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Cybersecurity Risk Assessments: An Overview – Tech Tip For June 6, 2023

Whether your business is seeking cyber risk insurance, working with a larger company or government agency, or working towards complying with industry standards such as NIST, you will eventually be faced with completing a cybersecurity assessment or even an external audit. Even a self-assessment requires a significant amount of information, making the process time-consuming if your organization is not prepared.

In this month’s Tech Tips, we will explore how to prepare for a cybersecurity risk assessment.

What is a cybersecurity assessment?

A cybersecurity assessment reviews the policies, procedures, and controls your organization uses to reduce cybersecurity risks. Cybersecurity assessments can also be an opportunity to review your IT systems, find weaknesses, and implement remediation measures to strengthen your cybersecurity.

When and how often will my organization need to perform a cybersecurity assessment?

Organizations of any size may need to complete a yearly review for cyber or general business insurance. Businesses that work for other companies may also be asked to complete an assessment yearly or upon award of a contract. Some businesses are finding that they are asked to complete assessments 3 or 4 times a year.

  • What will cybersecurity assessment cover?
  • Here are some areas that a cybersecurity assessment might cover:
  • Overall data security – including managing access
  • Compliance with legal and industry regulations
  • Adequacy of existing policies and training
  • Whether your software is up-to-date and how updates and patches are managed
  • Where data is stored
  • If a business continuity plan is in place, including how systems and data are backed up and recovered
  • Whether cybersecurity roles are adequately staffed, either internally or by third parties
  • What technologies are in place to prevent cyberattacks
  • Is there a documented process to address a cyber attack?

Our upcoming Tech Tips will look at ways to prepare for cybersecurity assessments and the importance of a System Security Plan (SSP) document.

If you have questions about cybersecurity or preparing for an upcoming assessment, please contact TechWise Group today.

Important Microsoft Announcements:

  • Maximize your organization’s Security with Secure Score and MFA:
    • Get to know your Secure Score—your essential tool for proactive threat management.
    • Enabling Multi-Factor Authentication (MFA) is the best way to prevent cyberthreats.
  • Give your business a productivity boost with Microsoft Copilot:
    • Take advantage of a 15% discount on Copilot licensing now through Dec 31, 2024 (terms and conditions apply).
    • Get started with Copilot consulting services to organize and secure your data, while also training you and your team.
  • Keep your infrastructure up to date:
    • SQL Server 2014 reaches End of Support (EOS) on July 9, 2024.
    • Windows 10 reaches End of Support (EOS) on October 14, 2025.
    • Windows 11 feature update 23H2 is now available (September 2024).
    • Windows 11 version 22H2 Home and Pro editions will reach end of service (October 8, 2024) and will be required to upgrade to version 23H2 to continue receiving security updates.
    • Windows 11 Enterprise and Education editions with 22H2 will continue to be supported after October 8, 2024.
  • Contact TechWise Group to get started or to put a plan in place.