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IT risk assessment
Proactively identifying and focusing on your most pressing IT risks
With technology’s constant evolution—and countless high-profile data breach and security incidents—executive leadership and boards are under increased pressure to ensure that management is proactively evaluating and addressing IT risk. The internal audit function plays a large role in assuring proper audit plans are in place to address these IT risks.
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However, internal audit departments do not have limitless resources, and are constantly working to direct attention to confirmed high-risk areas. Understanding the risk profile of your technology infrastructure and determining your highest areas of risk can help you to design a thorough and more effective IT audit program.
RSM’s IT risk assessment helps you identify, quantify and prioritize the key risks affecting your current operating environment, as well as planned and future strategic initiatives. In addition, our risk assessment approach goes beyond general technology controls, involving security and privacy professionals to better identify opportunities to secure your environment.
Our proprietary process leverages multiple IT governance frameworks, including COBIT 2019, NIST, CSA, FFIEC, PCI DSS and others to provide a complete view of 17 IT risk domains and where your use of technology may warrant additional focus from the third line of defense. In addition, our assessment is aligned with the Capability Maturity Model Integration (CMMI), which assigns capability levels to all process activities, enabling clear definition of the processes and required activities for achieving the different capability levels.
During our process, RSM conducts two surveys to collect key information from management and executive leadership, utilizing that data to calculate your inherent IT risk by using our automated risk assessment tool.
The company survey evaluates your organization and risks to determine which risks present the most significant threat, rating each on a 1–5 scale.
The executive survey gauges what your leadership team believes are key risks to the organization along with how confident they are in the controls mitigating those risks.
Through the risk identification process, RSM evaluates a wide range of risk domains within four families:
- Emerging technology
- IT and security management
- Programs and data
- Strategy and governance
These indicate your ability to appropriately utilize IT to achieve your business objectives while reducing existing enterprise risk and avoiding the introduction of new risks.
Our reporting is scalable, depending on the needs of your organization. The results and insights help you quickly determine whether your risks align with the initiatives and direction of your business. Your specific results from 17 unique IT risk domains can be summarized through a single, streamlined report, or with a more extensive analysis and detailed observations from each domain.
Available reports within the IT risk assessment include:
- Risk scorecard: An illustration of 17 IT risk domains within your organization, demonstrating where controls are performing well and where vulnerabilities may exist.
- Top five risks report: Your leading IT risks ranked by residual risk, with detailed recommendations and initiatives to improve controls and processes.
- Risk domain reports: In-depth reviews of each risk domain, complete with insight into where risks appear within the business, as well as observations from specific design factors and the maturity of related controls.
By utilizing advisors with vast experience in each risk domain and a framework that utilizes a maturity model and the most up-to-date concepts in the industry, you can trust RSM’s IT risk assessment to help focus your energy on your most critical risk areas.