IT Risk Assessment
The IT Risk Assessment will cut across all significant areas of the IT environment and will include a full Internal Procedures Review.
Cyber attacks can be highly damaging, not just in terms of monetary loss but also with respect to an organisation’s reputation – its most valuable asset.
Compromised cyber security has a long-term reputational effect on a business. The causes of a breach are varied and range from weak IT setups to compliance failure, identity theft, and untrained personnel.
While in the past businesses often felt that cyber attacks were something that would not happen to them, the increasing number of data breaches over these last years has made cyber security and data privacy a concern in every board room practicing effective governance. Consequently, there is a growing awareness that board members and senior members of management need to recognise cyber security risk as part of their remit when reviewing processes, business continuity planning, and the disclosure of material risks. Businesses handle significant amounts of sensitive information, including clients’ personal and commercial data, bank account details, employee personal data including health-related information. Companies have a duty of care to ensure that all of this data is appropriately protected.
Business owners may mistakenly believe that having certain defense mechanisms such as antivirus software and firewalls is the solution to manage cyber security risks. The misconfiguration and mismanagement of these defense mechanisms may actually expose the business to a higher level of cyber security risk. Businesses must approach cyber security holistically, in the same way, they would handle the financial health of the organisation. It is the collective responsibility of everyone in the organisation to protect it from cyber-attacks. Organisations, led by the board of directors and senior management, should take all necessary precautions to avoid being the next news headline.
The following are five basic steps to start addressing cyber security risks:
Mazars Malta has extensive expertise in the performance of vulnerability assessments, penetration testing, and cyber security training. We can help you and your organisation implement the appropriate security measures to protect against cybersecurity threats and potential damage to your reputation.
Some of these cookies are necessary, while others help us analyse our traffic, serve advertising and deliver customised experiences for you.
This website cannot function properly without these cookies.
Analytical cookies help us enhance our website by collecting information on its usage.
We use marketing cookies to increase the relevancy of our advertising campaigns.