The Institute Of Internal Auditors (IIA) report “OnRisk 2022: A Guide to Understanding, Aligning, and Optimizing Risk” exposes emerging risks brought about by the prolonged pandemic and expanding reliance on technology and a remote workforce.
Key highlight in the report is the poignant indication that Cyber Risk continues to be a major and prevalent risk to all organisations. As the report quotes “Cybersecurity continues to exasperate organisations large and small, public and private, for-profit and non-profit. This ubiquitous and dynamic risk was rated as the most relevant by respondents, along with Talent Management. Yet, on average, organisational capability lagged significantly.”
According to the IIA report, there is a concerning disparity between organisational capability or preparedness to address the risk and its recognition of it as major potential disabler or impediment to business operations. The adjacent graph highlights the key areas of risk identified in the report and the respective capability disparity.
Organisations should constantly be challenging themselves with questions around cybersecurity posture and conduct honest and objective self-awareness around their cyber choke points. Are you concerned about cyber risk? When was the last time you took an objective assessment to gauge your cyber maturity and posture? Do you need help? Perhaps start by considering the question presented in the adjacent window.
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