Cyber threats are a malicious act that seeks to damage data, steal data and disrupt digital life. Threats like computer viruses, data breaches and denial of service disrupts computer network and paralyze systems making data unavailable. Cyber threats attackers are always after financial gain, disruption and espionage, cyber threats are not static because millions are being created every year.
Cyber/threats are in five categories:
Physical/Digital attacks which is the loss of life or damage of infrastructure. Psychological attacks points to the individuals being left depressed, embarrassed or confused. Economically, there will be a fall in stock price, regulatory fines and reduction of profits. Reputationally, there’s a loss of key staff, damaged relationship with customers and intense media scrutiny. Socially, it stands the risk of disruption of daily life such as impact on key services and a negative perception of technology.
Internal auditors have a role to play in ensuring that advanced cyber threats stays in check to avoid damages. They will ensure the effectiveness of the response actions on IT risk, they will leverage relationships with the audit committee to heighten awareness and knowledge of cyber threats and ensure that they remain aware of the changing nature of cyber threats. Internal audit provides a holistic approach to where an organization may be vulnerable, it is crucial to provide assurance services for all areas of an organization.
Conclusively, internal audits may provide the most value by contributing insights from its extensive scope of work but preparedness assumes the survival of a cyber attack. It serves no purpose if the organization does not evolve and improve the strategies to be better prepared for any type of attack. Cyber threat increase should make organizations see the need to train their employees to know the implications of a security breach and give clear guidance on how to respond to one when it eventually comes since it is inevitable. In cyber intelligence, education is power therefore the need to be educated on the importance of staying free from cyber threats is the great job of IIA, Nigeria, we protect everything.