How CISOs and Corporate Audit Teams Can Drive Cybersecurity Success
A CISO partnering with the audit team can drive executive support for cybersecurity programs, secure funding, and strengthen organisational risk management.
One of the most critical partnerships a Chief Information Security Officer (CISO) can cultivate within an organization is with the corporate audit team. This collaboration can significantly influence cybersecurity’s visibility and the success of securing executive buy-in and funding for the cybersecurity program. At the same time, the audit team benefits from the partnership by staying ahead in understanding and mitigating cybersecurity risks, avoiding being outmatched by system owners and smart engineers.
The Power of Collaboration
The corporate audit team and cybersecurity team share a common goal: protecting the organization from financial, operational, and compliance risks. By actively partnering with the audit team, a CISO can better align cybersecurity goals with broader risk management and compliance objectives, allowing both functions to complement each other effectively.
For instance, one way a CISO can push their message across to senior executives and the board is by participating in the annual audit-planning process. When cybersecurity is integrated into the audit planning, it creates opportunities for risk areas to be identified early, allowing for more proactive mitigation efforts. By having the audit team focus on cybersecurity risks, it becomes easier to present cybersecurity not just as a technical issue but as a critical business risk that deserves executive attention and investment.
Influence Through Data and Reporting
The audit team has a direct line of communication with the board, especially concerning regulatory compliance and risk management. A partnership with the CISO allows for cybersecurity risk data to be included in audit reports, making it more likely to capture the attention of senior leadership. When the audit team highlights cybersecurity risks as part of its findings, it validates the CISO's message, lending credibility and urgency to funding requests and program expansions.
Take the case of a financial services firm that was initially struggling to secure funding for an enhanced cybersecurity program. The CISO collaborated with the audit team to include a detailed analysis of cyber risks in the annual audit report. When this data was presented to the board alongside financial compliance risks, the executives were more receptive to the cybersecurity budget increase, as they could clearly see the connection between cyber risks and overall business impact.
Trust Is the Foundation
For this partnership to work, trust between the CISO and the audit team is crucial. Both teams need to rely on each other for accurate, timely information and the sharing of insights. The audit team must trust the CISO’s technical assessments of risk, while the CISO needs to rely on the audit team to present a clear and business-aligned view of these risks to the board.
Building this trust takes time and consistent effort. A CISO can start by being transparent about cybersecurity challenges and working collaboratively on risk assessments. Similarly, the audit team can support the cybersecurity function by emphasising the importance of cybersecurity in their audit findings. This mutual support improves the ability to secure necessary resources and board approval for cybersecurity initiatives.
Conclusion
The partnership between the CISO and corporate audit team is a powerful way to strengthen an organization’s cybersecurity posture. By aligning objectives, sharing data, and building trust, both teams can better influence the board and executives, driving necessary changes and securing funding for critical cybersecurity initiatives.
In what ways can the audit team in your organization benefit from closer collaboration with the cybersecurity team? Join the discussion on Discord or WhatsApp (Yaksas Cybersecurity Infoshare).