Page 8 - IIA MAGAZINE_March 2017_English

Knowledge Update
BY VISHAL THAKKAR
The Security Intelligence Center
Next Steps: Beyond Response to Anticipation
In a recent poll conducted by The Institute 1) How organizations can move beyond
of Internal Auditor’s Audit Executive
Center provide an insight on an emerging
trend among organizations, as part of
their cyber-security strategy viz. the use
of Security Operations Centers (SOC’s).
A defensive perspective to tackle cyber-
security could be costly and ineffective.
To gather another perspective at cyber-
security, a research was carried out to
explore how an offensive approach might
appear and work against a cyber attack.This By addressing and answering these
report provides and insight on the topic
and provides a groundwork of terminology,
frameworks, metrics and tools and
culminates with a view of the current state whether they are first establishing a SOC,
of SOC’s and the use of intelligence tools. or advancing further and establishing a
Apart from offering a summary of that
research, this report helps cyber-security
professionals, Chief Audit Executives
(CAEs) and other stakeholders to explore
broader issues and to answer following two
questions:
8 INTERNAL AUDITOR - MIDDLE EAST
merely being reactive and responsive to
cyber-security incidents and instead being
proactive and start to identify, anticipate, risks which will affect their organizations
and actively defend against known and
emerging threats?
2) Role of CAEs in encouraging and
facilitating this shift from a reactive to a 2017 based on the feedback provided
proactive stance
questions, organizations can take the
important first step by advancing their
cyber-security initiatives irrespective of
fully functioning Security Intelligence
Center (SIC).
http://contentz.mkt5790.com/
lp/2842/219329/Foundation%20IA%20
Cyber%20Research%20Report%20Feb%20
2017.pdf
Executive
Perspectives on
Top Risks for 2017
This report contains results from the
fifth annual risk survey of directors and
executives to obtain their views on likely
in 2017. This survey provides insights
across various sizes of companies and
across different industry groups specifying
the key risks that are expected to be in
by executives and board members that
participated in the survey. Some of the
risk drivers mentioned by the participants
were Brexit, turmoil in the Middle East
and the resulting surge in immigration,
changes in national political leadership,
depressed oil prices, monetary policies
and concerns about inflation and
inflated asset prices in China, global
terrorism, escalating healthcare costs,
rapidly developing innovations from the
digital technology revolution, expanding
regulation and oversight, a strong US
dollar. These and many other significant
risk drivers are contributing to the risk
related conversations in boardrooms and
executive suites. Key findings for the year
were as follows:
• Overall global business context is
perceived to be markedly more risky in
2017
• Concerns about economic conditions
top the list of risk issues for 2017
which was followed closely by
regulatory changes and scrutiny
• Cyber-threats, information security
and privacy also remain critical issues
for organizations to address
Accordingly, the top risks consists the
following:
• Economic conditions in domestic and
international markets
• Regulatory change and increased
regulatory scrutiny
• Cyber-threats management
• Speed of disruptive innovation
• Privacy and protection of identity
• Increased magnitude and severity of
risks expected in 2017
• CEOs and CFOs see a riskier
environment
https://www.knowledgeleader.com/Knowl-
edgeLeader/Content.nsf/Web+Content/
ecutivePerspectivesonTopRisksfor2017
MARCH 2017