In the era of digitization and GenAI, social engineering is another rapidly rising cybersecurity threat that capitalizes on human vulnerabilities. CISOs and cybersecurity leaders are always on the lookout for emerging sophistication. Threat actors apply unique methods to make their attacks look more benign and convincing. In this two-part blog, we will unwrap social engineering… Continue reading Rise of Social Engineering: Why Enterprises Should Worry about this in 2024? (Part1)
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Category: Internal Audit Management
Internal Audit and its Growing Role in Emerging Technologies – Part 2
In part 1 of this blog, we delved into the current business challenges and the role of internal audit in addressing them. Through doing so we highlighted improved practices we’ve observed, and identified critical areas where internal audit can proactively address cloud computing and smart devices. In part 2, we will focus on cyber security… Continue reading Internal Audit and its Growing Role in Emerging Technologies – Part 2
Internal Audit and its Growing Role in Emerging Technologies
The internal audit business function has steadily seen its role in Emerging Technologies grow exponentially. With data breaches frequently appearing in the news, executives are becoming increasingly anxious about data privacy and security matters. There has been an increase in the risk of IT security breaches, customer data misuse, and reputational harm. The increase can… Continue reading Internal Audit and its Growing Role in Emerging Technologies
The Benefits of Integrating Enterprise Risk Management (ERM) and Internal Audit Management for Credit Unions
An enterprise risk management strategy or ERM offers a host of benefits to companies in all industries and business sectors. But the advantages increase exponentially when you integrate enterprise risk management practices with internal audit management activities within your credit union or other financial institution. What is Enterprise Risk Management? And What Are the Benefits… Continue reading The Benefits of Integrating Enterprise Risk Management (ERM) and Internal Audit Management for Credit Unions
How to Measure the Effectiveness of Your Credit Union’s Internal Audit Process
Credit unions — like banks and other financial institutions — are subject to strict regulatory oversight which carries significant reporting and auditing requirements. These regulations are intended to maximize efficiency and improve accountability in an industry that was largely unregulated until the early 2000s when a number of major banks failed. Internal Audits can go… Continue reading How to Measure the Effectiveness of Your Credit Union’s Internal Audit Process
Agile internal audit management: Complying with industry’s dynamic regulations and beyond – A financial services perspective
The financial services sector undergoes constant changes, which include expanding organizational risk profiles, stricter regulations, and increasing stakeholder expectations. These factors create a demanding assurance landscape for internal audit teams. However, traditional internal audit processes and outdated technology hinder real-time visibility into risks and impede the flexibility to address these changes effectively. To tackle these… Continue reading Agile internal audit management: Complying with industry’s dynamic regulations and beyond – A financial services perspective