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Cybersecurity identified as a top business risk

by accountingcpd

The Chartered Institute of Internal Auditors have recently published the results of a survey where 520 chief internal auditors across Europe were asked to assess the risks they felt their business was facing. The Risk in Focus 2020 report outlines the findings of the survey. The top three risks that were identified were cybersecurity, regulatory change and digitalisation. As an outcome, the report recommends some key ways that businesses can protect themselves against cyber risk:

  • Assess how their customer service chatbots are protected against breaches
  • Recruit internal/external cybersecurity experts to minimise corporate risks
  • Review the security of cloud services; including ensuring systems and processes are in place to prevent misconfigurations

Dr Ian Peters MBE, Chief Executive of the Chartered Institute of Internal Auditors, said "For the second year running, cybersecurity has been identified as the number one business risk faced by organisations in Europe. Cybersecurity is a problem we regularly see on the news from the theft of 500 million Marriott hotel guests’ personal information, to the security breach which exposed 50 million Facebook user identities."

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