Understanding IT Security Audits: A Guide to Protecting Your Organization

Estimates indicate that cybercrime will likely cost organizations worldwide around $19.7 trillion annually by 2030. IT security is critical, and with cybercrime continually on the rise, organizations need to prioritize protecting their companies. If a hacker launches a successful attack, your customer data and business could be at risk.  

No organization is entirely immune to IT security threats. After all, every company relies on data in one way or another. There are different measures to maintain a suitable level of security, such as an IT security audit.  

Key Takeaways 

• Cybercrime is a significant and growing threat, making IT security audits crucial for assessing and improving a company's cybersecurity measures. 
• IT security audits provide a comprehensive evaluation of an organization's IT infrastructure, including physical components, software, network vulnerabilities, and human element considerations, to maintain compliance with industry standards and identify areas for enhancement.
• There are various types of security audits, including NIST and CIS Controls 18 audits, providing proactive security measures and tactics for ongoing compliance and process improvement.  

What Is a Security Audit, and Why Does It Matter? 

A security audit examines your organization’s IT infrastructure, assessing its ability to protect against potential threats. Typically, using an audit checklist allows one to understand how existing security measures compare to best practices, federal regulations, and industry- accepted cybersecurity hygiene standards.  

A third-party security audit is important if you have either outsourced your IT or have an in-house IT department. Having an independent IT assessor will give a non-biased opinion of security standards. The auditor will assess security in relation to: 

1. Physical components and the environment that houses your information systems.
2. Software and applications that are currently part of your system.
3. Internal and external network vulnerabilities.
4. Human elements (i.e., how employees collect, store, and share sensitive information).
5. Written information security policies and procedures. 

The Growing Importance of IT Security Audits

A cyberattack happens every 39 seconds, so implementing security that can handle potential threats protects your organization and customers. When a third-party vendor completes a security audit, organizations feel prepared for the future, knowing they received a comprehensive overview of their security services from an independent organization. IT departments and leaders can utilize the gathered information to develop risk assessment plans and mitigation strategies. If your organization handles sensitive data, it is critical to promote best practices and implement robust IT security protocols.

Why IT Security Audits Are Crucial for Protecting Your Business 

An IT security audit provides an independent assessment of an organization’s security posture by evaluating internal controls, technical safeguards, and compliance with both internal policies and external regulatory standards. These audits help verify the effectiveness of security measures and ensure alignment with frameworks such as HIPAA and ISO. By benchmarking current practices against nationally and internationally recognized standards, organizations can identify vulnerabilities, enhance their security posture, and prioritize areas for improvement.

What Does a Security Audit Consist Of?

A security audit examines various elements of your IT infrastructure. This can vary depending on what systems you use, but some common assessment components are: 

• Operating systems  
• Applications  
• Servers  
• Network Infrastructure  
• Cloud Security configurations 
• Cloud business applications  
• Data management and retention policies  
• Incident response and disaster recovery  
• Written information policies and procedures  

Key Benefits of an IT Audit 

There are many compliance and cybersecurity benefits that stem from an IT audit. By performing an IT audit your team can: 

Maintain Regulatory Compliance 

IT audits play a key role in helping organizations meet regulatory standards such as HIPAA, GDPR, and PCI-DSS. By evaluating existing security controls and identifying gaps, audits ensure that systems and processes align with legal and industry requirements. This proactive approach helps organizations stay ahead of compliance obligations and maintain secure, well-governed IT environments. 

Train Employees to Minimize Risk  

Employees can potentially be one of your more significant vulnerabilities. About 94% of organizations have suffered insider data breaches. Human error can lead to significant issues, so it is vital to know which employees have access to sensitive data. For example, phishing tests are commonly used to assess staff training. To mitigate cyber threats, all employees should frequently attend compliance and cybersecurity risk management training.  

Enhance Identity Access Management for Stronger Protection  

It’s vital to keep track of network activity and event logs, which helps monitor networking systems, making sure that only authorized personnel have access to restricted data. A review of identity access can greatly mitigate attacks such as ransomware attacks.  

Identify and Address System Vulnerabilities  

A security audit should highlight any major security vulnerabilities, such as outdated security patches or employee login details that haven't changed over the last year. After identifying vulnerabilities, internal and external vulnerability scanning can be done to identify potential gaps in the cybersecurity wall protecting data system assets. This helps validate internal policies and procedures by implementing strategic remediation solutions. It’s important to remember that this should not be a one-time fix, but an ever-evolving process to confirm that controls are effectively working to prevent fraud and other IT security issues in the short- and long-term.  

Two Types of Security Audits  

There are several types of security audits, and depending on your organization and type of data store, one might be more suitable than the other. 

NIST Security Audit

The National Institute of Standards and Technology (NIST) is a government organization that provides solutions that ensure quality assurance, measurement traceability, and documentation standards. This involves criteria, practices, and guidelines related to its cybersecurity framework (CSF). An NIST audit covers five core areas: 

• Identify 
• Protect 
• Detect 
• Respond 
• Recover 

CIS Controls 18 Security Audit

The Critical Security Controls (CIS) audit, formally known as SANS Critical Security Controls (SANS Top 20) is composed of 18 safeguards that serve as a framework for cybersecurity best practices. One impactful element of CIS is penetration testing to expose weaknesses and areas for improvement. This is conducted through:  

• Stimulating attacks. 
• Identifying weakness.  
• Assessing resiliency.  
• Improving defenses.  

Your Organization’s IT Systems

Understanding the importance of cybersecurity is the first step in protecting your organization. To learn more about cybersecurity and why an audit is right for you, contact an EisnerAmper professional below.