Prioritizing and planning remediation efforts
As an IT auditor, prioritizing audit findings enables you to focus on the most significant risks and ensure that the organization’s resources are allocated effectively. A risk-based approach to prioritization involves assessing each finding based on its potential impact and likelihood of occurrence. Your first step should always be to check with the organization you are auditing to see whether they have an established or preferred prioritization process.
We could dedicate an entire book to determining the likelihood and impact of findings that present a specific risk to an organization. A good place to start for an in-depth understanding of measuring cybersecurity risk quantification is the FAIR Institute https://www.fairinstitute.org/. Let’s briefly look at some ways you can review a finding for risk prioritization.
To determine the impact of a finding, consider the following:
- Financial impact: Assess the potential...
