IT audits have become essential for businesses as technology now plays a role in forming business strategies and making crucial business decisions. Moreover, as more people are switching to remote work, IT audits are necessary to support a secure IT environment.
An information technology audit examines and evaluates the risks an organisation’s IT department may face. It examines the IT systems and applications to ensure they are secure, reliable and effective for all employees to use.
IT audits are vital to assessing if the business is ready for new and upcoming technology in the market. This helps organisations strengthen their security by managing, addressing and mitigating information technology-related risks to ensure efficient business operations.
Read on to discover the risks of failing an IT audit and how a business can avoid an outdated IT audit.
4 Risks Of Failing An IT Audit
1. System Crashes
Digital transformation has brought about many changes to how businesses across multiple industries operate. IoT, Cloud, and AI are the modern enablers of this transformation.
Even traditional businesses are adapting to the new times. Almost every new business is using cloud technology, which reduces the risk of data loss by storing data in remote systems.
With these changes, customers expect uninterrupted and reliable access to data, files, and customer service. If your business’s system crashes, they will not hesitate to take their business elsewhere.
2. Decreased Productivity
Outdated technology takes longer to execute tasks and is time-consuming to maintain. They decrease your employee’s productivity, costing your business in terms of revenue and ROI.
You benefit more from productive employees than those who spend most of their day trying to get their tools to work properly. Not to mention the cost of satisfaction and retention for both employees and customers.
A great method to minimise the risk associated with hardware updates is Hardware-as-a-Service (HaaS). With HaaS, you minimise the risk of spending a lot of money on something that doesn’t last long and gain the ability to scale as your needs grow and change.
3. Security Holes
Businesses that use outdated technologies are exposed to cybersecurity threats. If your technology is not always up to date, your risk is constantly increasing at exponential rates.
The best way to ensure your business stays up to date is through consistent documentation and implementing guidelines for maintaining and updating your business’s IT systems.
4. Legal And Regulatory Compliance Risks
Outdated IT systems can make businesses a prime target for cyberattacks and potential data breaches, which can have catastrophic reputational and financial consequences.
Small-to-midsize businesses (SMBs) especially need to take more caution. This is because many cybercriminals consider SMBs, such as law firms and educational institutions, to have valuable personal identifying information about their clients.
SMBs also tend to be neglectful about updating their IT systems, dramatically increasing their vulnerability and attractiveness to cybercriminals.
How To Avoid An Outdated IT Audit
The following points serve as a guide for what your business should do to avoid an outdated IT audit:
1. No Outdated Policies
An IT audit report must not contain false information about your company’s policies. A hefty fee for wrong or fraudulent data awaits offenders, especially when a government agency performs its own audit.
2. No Authentication Features For Remote Access
As more employees switch to working from home, the risk of exposure to data breaches and other attacks also increases.
An IT audit would recommend the best type of authentication feature for your business, such as two-factor authentication, token devices and smart cards.
3. No Dedicated Staff Responsible For Security
For your IT network’s security, there should be at least one person or team dedicated to handling security tasks. Getting a third-party IT audit is another method you could do to strengthen your business’s network security.
4. No Disaster Recovery Plan
An IT audit becomes inefficient when you do not prepare for the aftermath of an attack. With an IT audit report, business owners not only obtain insights into their network security but are also provided with recommendations on how to prepare for an attack. It will help you test your disaster recovery plan and keep it updated.
5. No Vulnerability Scanning Or Penetration Testing
IT auditors must always assume that the system is vulnerable even with an updated system. No matter how resilient your network is, it will fail at a certain point, so make timely adjustments.
Having an effective IT audit system is essential for a business. It identifies, minimises and removes risks to your business’s IT systems and data so as not to fall victim to cyber-attacks.
Another reason you should conduct an IT audit for your business is that it can help you save money by identifying the services you need and which ones you can do without. Plus, you will have better visibility of how the technology in your business is used and any issues that need to be solved.
How Aegis Cloud Data Protection And Disaster Recovery Can Help
When utilised well, technology has the potential to increase your organisation’s success significantly. However, many businesses find adapting to these constant changes challenging.
In a constantly changing landscape, many internal audit teams have struggled to find people with IT audit expertise. Moreover, the rapid emergence of new technological developments, from AI to blockchain, adds to their security concerns.
With over a decade of Cloud experience, Aegis offers data protection and Cloud disaster recovery services that protect your data and systems. We keep businesses running during a disaster with standby DR servers that minimises downtime and disruption to your business operations. Moreover, Aegis’s dedicated Disaster Recovery Drill personnel guarantees successful Disaster Recovery drills, with unlimited DR testing in a yea