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One cannot over emphasis the importance of internal audit(IA) in cybersecurity oversight, assurance and attestation. That will be required by covered regulated entities and their boards.
The role of IA across ESG is magnified when one considers the effects of cyberattacks on national, economic and societal security. Cyber is a national security problem, effects economic security (as Lloyds of London published the effects of a systemic cyber attack could be $3.5Trn). Cyber has the ability to significantly effect CNI, that in turn effects power, water, health care and transportation.
When one considers the need to adopt a 3 Line of Defense model for cybersecurity risk management. One has to consider the role Internal Audit plays in the oversight, assurance and attestation of cyber risks for boards of covered entities. Who else is qualified, experienced and professionally regulated to do this work? Regulators expect independent oversight and EU NIS 2, DORA and the SEC final rule place civil and criminal liability on boards for non compliance to cyber risk management.
A reason we wrote a governance program that includes Internal Audit. (https://lnkd.in/eGyNKvZc)
Ted Dziekanowski Brian D. McCarthy Bob Dix Rachel V. Rose, JD, MBA
#paravasecuritysolutions #cybersecurity #cyberriskmanagement #internalaudit
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