Key risks to consider by Internal Audit in 2024

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Resilience and cybersecurity

Resilience and cybersecurity are important components of an organization when dealing with external, imminent and hard-to-predicting threats. Resilience addresses the level of readiness and flexibility for potential disruptions caused by internal or external incidents, while cybersecurity protects against digital threats that can affect the organization’s entire IT infrastructure (i.e., production and industry systems, ERP-systems, intellectual property and innovation etc.). The effective and efficient setup, alignment, and execution of these programs ensures that the business can withstand and recover from actual incidents, maintain operational continuity and minimize damage. IA can support the effectiveness of a resilient organization by assessing how the dynamic nature of cybersecurity risks is being dealt with by the IT organization on a recurring basis, reviewing and testing measures and response plans to protect the organization’s assets (i.e., annual testing of the resilience organization, continuous improvement process) and benchmarking the internal setup against best practices.

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