Cybersecurity is a complex risk. Not only is the risk a national security issue, but its a risk to corporate performance, and economic security.

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Cybersecurity is a complex risk. Not only is the risk a national security issue, but its a risk to corporate performance, and economic security.

The biggest challenge for organisations is that cyber is increasingly becoming a regulated risk, and for covered organisations the implications of governance, oversight and assurance are profound. Least of all the significant penalties organisations face for compliance failure. That can include civil and criminal penalties.

Audit is a word that is often thrown around with little regard to its meaning. The term ‘audit’ can have legal meaning, as it refers to a mandatory, independent examination of a company’s financial records to ensure compliance with regulations. To conduct audits you have to be qualified, and it helps if you are a member of a Professional body.

The growing number of Compliance as a Service firms such as Delve, providing ISO or SoC assessments, face a problem. They are invariably not auditors and the output of their work will get increasing attention from cyber regulators. As covered boards are increasingly being required to demonstrate cyber risk management regulator compliance.

Unfortunately for those regulated companies required to demonstrate compliance it will require more than a certificate. The consequences of which will be tested over time in courts across the US, EU and APAC. Covered companies will need to be prepared.

At best companies such as Delve assure compliance.

Liz Sandwith CFIIA Faisal Khan Michael G. Jacobides Georgios Alevras

@Parava Security Solutions

#cybersecurity #cyberassurance

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