Information Technology (IT) is becoming increasingly important to the business strategy and operations The increasing use of technology throughout the business environment can lead to significant efficiency and can enhance the overall ability of an organisation to achieve its strategic aims and objectives. However, there are substantial challenges involved in the development, implementation and maintenance of technology and significant risks and increasing security threats in its operation, which includes:

  • Lack of Technology Governance framework in place to identify and manage the fundamental technology risks facing the business
  • Persistence Cyber Security threat facing your business without a clear and sufficient strategies and assurances in place to manage the risks?
  • Data protection and privacy management
  • Complex IT projects risks and infrastructure changes through transformation and innovation
  • General and specific IT environments, emerging technology e.g . Business applications, virtualization, cloud and mobile computing
  • Vendor, third-party and outsourcing risks

In addition, the regulatory environment is constantly changing. Regulatory obligations are also providing a growing challenge to any computerized organisation and any audit committee seeking assurance on internal controls over financial reporting and information technology with assurance requirements becoming more and more embedded in many compliance frameworks designed to improve investor protection and confidence (e.g. SOX, PCI DSS, COSO, etc).

With technology increasing in sophistication and complexity, it is essential that the Board and Senior Management have access to leading edge Information Technology Audit and Assurance skills that will bring value and insight to their business. The Technology Assurance function has a role to understand how these IT challenges impact the organization and how the IT function is mitigating the company’s exposure.

 

How we can help client managed risk, improve efficiency and drive disciplined performance

At CrystalCoast Consulting, We recognize that the complex technology challenges that many organisations face, require a specialist and supportive response. Our focus is to help you concentrate on fundamental business issues,  understand and manage the impact of technology risks on your business and achieve your corporate objectives. We can help you:

  • Assess the impact of technology risks on your business and strategic objectives
  • Carry out In-depth analysis and reviews of information security governance, including benchmarking of the maturity of the information security management practices across a firm.
  • Develop robust IT Governance and Risk Management framework to meet your compliance responsibilities.
  • Protect and secure your information assets through Threat and Vulnerability Assessment services.
  • Project Assurance Services.

 

To understand more about our IT Audit services or a wider range of our consulting services, please contact:

 

Lanre Omidire

Consultant, Technology Audit Services

T  +234 806 236 2049

lanre.omidire@crystalcoast.com.ng