Assessment of audit readiness

This year, data breaches cost companies an average of $4.88 million, representing a 10% increase compared to the previous year. You certainly don’t want your company to appear on this list, so it’s crucial to prepare for defense and protection against cyber threats. But how can you ensure reliable cybersecurity? By adhering to international or national security standards and conducting an audit that confirms its effectiveness. With the fuentis Suite 4, you can easily implement standards like the international ISO 27001, national IT Grundschutz protection , or NIS2.

Why internal audits?

Before contacting auditors, however, you should conduct an internal audit to ensure your readiness and avoid last-minute changes. We understand that even an internal audit can be challenging and that the complex process may seem overwhelming, but this does not lessen its importance.

The path to an audit requires significant effort and planning, such as involving the right experts and using the right technology. Nonetheless, full readiness for certification reduces the time and effort associated with the audit, meaning you’ll have more time for your business-critical tasks.

Let’s explore this further…

What is an audit readiness assessment?

An audit readiness assessment is a process conducted prior to the actual audit that leads to certification. Typically, this is done several months in advance and aims to address any identified weaknesses. The assessment can be conducted in various ways. You may have the audit readiness assessment performed by the auditing firm responsible for your upcoming audit. Alternatively, you can engage a specialized audit readiness provider. It is also possible to carry out the assessment internally through your own internal audit team. However, for a valid and unbiased assessment, it is essential to ensure that your internal team has the experience needed to adequately evaluate your security controls and business processes.

Why do you need to carry out an audit readiness check?

You need to conduct an audit readiness assessment to determine how prepared your organization is for a successful audit of frameworks like ISO 27001,  IT-Grunschutz, NIS2, or SOC2. The main advantage is that you can identify potential gaps in your key controls and develop a plan to address these gaps.

Here are some reasons why you should conduct an audit readiness assessment:

• Hier sind einige Gründe, warum Sie eine Bewertung der Prüfungsbereitschaft durchführen sollten: External audits ensure that a company fulfils regulatory and legal requirements, as non-compliance can lead to penalties and fines.
• Verification of information security: Audits verify that the security of your information system is accurate, reliable and fairly presented.
• Fraud prevention: Proper audit readiness helps to detect and prevent fraud. Strong internal controls, processes and policies reduce the risk of security breaches and fraudulent activities.
• Increased efficiency: Audit readiness increases operational efficiency by identifying and addressing issues early on before they become complex problems. This saves time and resources.
• Stakeholder trust: Stakeholders rely on accurate financial reports and audit reports. A history of reliable financial reporting can increase stakeholder confidence and attract potential investors.

 

How do you prepare for an audit?

The audit often causes anxiety, but the reality is that with the right preparation it is manageable. In this guide, we will outline some steps to help you prepare:

1. determination of compliance with industry regulations

The first phase involves identifying the specific laws and regulations that apply to your organisation. Identifying the legal requirements that your organisation must comply with depends on a number of factors. These factors include:

• Your industry
• The geographical location of your organisation
• The countries in which your organisation operates
• The type of products and services you offerThe
• clientele you interact with

For example, if your company operates in the healthcare sector in Germany, it is essential to have an IT-Grundschutz-compliant ISMS The fuentis Suite 4 helps you to set up an IT-Grundschutz-compliant ISMS.

2. Create a Network Diagram

When preparing for an audit, you should create a network diagram that illustrates your network resources. The goal of the audit is to uncover potentially unknown resources, but providing a network diagram to your auditor can save a lot of time.

What is a Network Diagram?

A network diagram is a visual representation of your network’s structure, showing resources, connections, and existing security measures. This diagram simplifies the assessment process for the auditor and gives you a clearer overview.

3. Coordinate with the Auditor’s Needs

Before the audit begins, the auditor will likely need information from subject matter experts within your organization to understand your cybersecurity policies and architecture.

To facilitate this, schedule a call with the auditor and ask about the key stakeholders they will need to contact during the audit process. Additionally, ensure that enough time is allocated for these stakeholders to participate in the meetings.

4. review your information security policy

Jede Organisation sollte bereits über eine solide Informationssicherheitsrichtlinie verfügen. Diese Richtlinie bietet klare Anweisungen zum Umgang mit sensiblen Daten. Doch was enthält sie? Diese Richtlinie dient dem Schutz von Daten. Sie beschreibt die ergriffenen Sicherheitsmaßnahmen und definiert die spezifischen Verantwortlichkeiten der Personen innerhalb Ihrer Organisation im Datenmanagement. Idealerweise sollte diese Richtlinie allen Mitgliedern Ihres Teams zugänglich sein. Die Richtlinie ist kein geheimes internes Dokument, sondern ein Leitfaden für den ethischen und rechtlichen Umgang mit Daten, den jeder Mitarbeiter verstehen sollte.

An information security guideline focuses on three central aspects of data management:

• Confidentiality: It defines the limits of who can access data and may even identify the data that should never be published.
• Integrity: It ensures that your data remains complete, intact and original.
• Verfügbarkeit: This aspect defines when and how the data can be accessed.

5. Vendor Assessment

When running a business, you work with your own team and collaborate with a network of third-party vendors who provide goods and services to keep your core processes running. This is where Vendor Risk Management (VRM) comes into play. VRM optimizes the entire process—from onboarding vendors to assessing, identifying, and mitigating risks, and ongoing monitoring.

It’s not just about ticking boxes. Good vendor risk management pays off. It means you are better prepared for the future. You can easily distinguish between low-, medium-, and high-risk vendors, allowing you to focus your risk management efforts where they matter most.

6. Conducting an Internal Risk Assessment

The next step is to conduct an internal risk assessment. Identify risks associated with factors such as company growth, geographic location, and best practices in information security. Document these risks thoroughly. Now it’s time to get specific. Define the scope of these risks by examining their threats and vulnerabilities. For each identified risk, assign a probability and measure its potential impact. Your next step is to implement measures or controls to effectively mitigate these risks.

To point you in the right direction, here are some questions to think about:

• Have you identified all potential threats to your organisation?
• Can you clearly name your critical systems based on these identified risks?
• Have you thoroughly assessed the severity of each risk in relation to these threats?
• What is your plan to mitigate these risks?

Remember that any gaps or omissions in this phase of risk assessment can reveal your vulnerabilities and could be flagged as warning signs by the auditor.

7. Conducting a GAP Analysis

Now that you have an overview, it’s time to roll up your sleeves and conduct a GAP analysis. This process involves refining your procedures and practices to align them with best practices for audit readiness.

How to proceed:

• Take a close look at your existing procedures and practices. Carefully compare them with compliance requirements. This step helps you identify what you’re already doing well and where the gaps lie.
• Once you’ve identified the gaps, you may need to adjust workflows, introduce new training modules for employees, or create new control documentation. Your assigned risk assessments will help you prioritize which gaps should be addressed first.

8. Assessing Employee Threats and Compliance

Did you know that insider threats are one of the greatest risks to your business? Whether intentional or accidental, these threats can cause significant damage. A 2019 Global Data Exposure Report found that employees often take greater risks in handling data than their employers realize, making organizations vulnerable to insider threats.

Steps to increase insider threat prevention include:

• Conduct insider threat awareness training.
• Implement programmes to prevent data loss.
• Take data protection measures into account during employee induction and departure.
• Launch cross-functional programmes to combat insider threats.
• Introduce the Zero Trust concept

It is possible to conduct these training sessions individually. However, if you choose a compliance automation platform, employees will be trained in basic measures to protect sensitive data. Focus especially on training employees who handle highly sensitive data and enter it, for example, into an Information Security Management System (ISMS)

9. Conducting an Internal Audit

As a final step, conduct an internal audit as a trial run before the actual auditor arrives. This includes a review involving manual checks of policies, processes, and controls, as well as automated assessments of key infrastructure and security systems.

Audit-Ready with the fuentis Suite 4

fuentis not only supports you in implementing an ISO 27001 and IT-Grundschutz-compliant ISMS, but also enables you to maintain an overview at all times through custom dashboards and automated processes. Additionally, we can support you through our extensive network of expert partners.