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Cyber security audits explained

Cybercrime is one of the biggest threats to businesses across all industries, and more than 600,000 businesses experienced a breach or attack in the last 12 months.

5.01.26

By Alan Boswell Group

Cyber security

But, while cyber insurance can minimise the impact of cybercrime, a comprehensive cyber security audit can help you identify weaknesses and lower the risk of an attack happening in the first place. 

What is a cyber security audit? 

It’s a detailed review of your business’s cyber security and focuses on the security infrastructure you already have in place. This includes any cyber security policies and procedures you have for identifying and managing a cyber attack, such as a cyber incident response plan.  

The goal is to check that everything is working as intended, while also highlighting any vulnerabilities and risks to your business. At the end of a cyber security audit, you should have a complete overview of your current security position and any changes you need to make. 

 

What’s the difference between an IT and cyber security audit? 

An IT audit is a broader review of the IT systems within your business. It also looks at policies, procedures, and infrastructure, but with the main aim of ensuring they support your business activities. IT audits also verify that your organisation complies with any relevant regulatory requirements, such as data protection. 

In contrast, cyber security audits specifically focus on your cyber security arrangements, helping you identify issues that put your business at risk of cybercrime.  

 

Who should conduct a cyber security audit? 

Cyber security audits should be carried out by an independent, qualified third-party. Using a third-party (rather than someone employed by the business) helps ensure objectivity. If you have a cyber insurance policy, your insurer will have partnered with independent specialists who can help you with this.   

 

How often should cyber security audits be carried out? 

What’s right for your organisation will depend on what your business does and the type of data you hold or process. In general, you should aim to carry out cyber security audits at least once every year.   

For example, if your business is involved in a regulated industry or deals with personal or sensitive information such as healthcare or financial data, you may want to consider conducting an audit every quarter. This helps ensure that systems and procedures are working effectively and minimises vulnerabilities and the risk of an attack taking place.  

It’s also a good idea to carry out a cyber security audit if you’ve installed a new IT system, made any other changes to your security package, or changed your IT service provider.  

 

How long does a cyber security audit take? 

Audits vary in length depending on a number of factors, including the nature of your business, its size, the systems and IT security in place, and how detailed the audit is.  

What’s included in a cyber audit?  

Cyber security audits will review your existing infrastructure along with supporting documents, such as policies. Your audit will also evaluate:  

  • Data security – including network access, use of encryption, and data security during storage and transmission. 

  • Operational security – reviewing your current procedures, policies, and controls and how they compare to the latest standards and guidelines. 

  • Network security – this covers your antivirus setup and online monitoring capabilities. 

  • Systems security – this involves a full overview of your current systems, patching processes, user access, and privileged accounts. 

  • Physical security – including password strength, biometric data, and multi-factor authentication. 

  • Employee training. Statistics show that 95% of all cyber incidents arise from human error, be this: 

  • Theft 

  • Ransom 

  • Data breach 

  • Breach of confidentiality  

  • Liability 

  • Regulatory 

 

What are the different types of cyber security audits? 

Cyber security audits can vary in scope, for example: 

  • One-time assessments are ad-hoc reviews that are suitable if you’re introducing new software.  

  • Portfolio assessments are regular audits that take place every year or as often as your business needs. These focus on current processes and systems, identify weaknesses, and provide you with actions to improve security. 

  • Tollgate assessments are slightly different and, rather than identifying risks, they’re used to help your business make decisions about new processes and procedures.  

What’s covered within the cyber security audit will depend on the aspects being assessed, but it could include: 

  • Compliance audits, which ensure your business meets any regulatory commitments or standards, such as payment protocols. 

  • Vulnerability assessments highlight weaknesses within your infrastructure or network that could be used by criminals to access information or systems.   

  • Penetration testing takes vulnerability assessments a step further and actively tries to gain unauthorised access to your systems (sometimes known as ethical hacking). This provides more realistic scenarios that criminals may use. 

  • Employee training. 

 

Why is a cyber security audit important? 

Cyber security audits can help minimise the risk of your business becoming a victim of cybercrime, protecting it from the financial and reputational damage that can follow.  

The benefits are universal for businesses of all sizes, including:  

  • Highlighting areas of weakness. 

  • Identifying any gaps in your cyber security. 

  • Ensuring compliance with regulations such as GDPR, data protection, and payment system standards (PCI DSS). 

  • Testing your controls and processes. 

  • Staying ahead of new cyber crime tactics. 

  • Providing assurance for clients and suppliers. 

  • Potentially increasing your overall business performance by minimising downtime caused by cybercrime. 

 

How can your business prepare for a cyber security audit? 

Preparation is key to a successful cyber security audit, and you can help the process go smoothly by:  

  • informing all your teams and partners; 

  • detailing all your technology assets and inventory, both hardware and software; 

  • gathering all your documentation and keeping it in a central location; 

  • providing a log of all current security procedures; 

  • listing all the current safeguards and controls that are in place. 

Need help with your insurance?

Cyber security audits can go a long way to preventing cybercrime. But if your business is unfortunate enough to experience an attack or breach, cyber insurance can help minimise the impact. Policies can help with data recovery, business interruption costs, and crisis management, as well as security assessments and training. For more information or a quote, speak to a member of the team.

Speak to us:  01603 218000

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