|By PR Newswire||
|November 5, 2012 01:00 PM EST||
MENLO PARK, Calif., Nov. 5, 2012 /PRNewswire/ -- Although companies continue to increase their investments in and dependency on IT resources, many aren't doing enough to protect themselves, according to a new survey from global consulting firm Protiviti (www.protiviti.com). The firm's 2012 IT Audit Benchmarking Survey (www.protiviti.com/ITauditsurvey) ‑ which also reveals the top 10 technology challenges businesses face ‑ finds that a significant number of organizations do not conduct any type of IT audit risk assessment, and a considerable number of companies that do conduct assessments have critical gaps in their IT audit capabilities.
Protiviti's second edition of the IT Audit Benchmarking Survey analyzes some of the underlying IT audit trends and gaps evident in organizations today. In addition to data and analysis, the survey report also includes key questions for audit professionals to consider as they evaluate their own IT audit functions and capabilities.
"There's no question that IT risks can affect the bottom line. To succeed in today's business environment, it's absolutely critical for organizations to understand and manage IT risks that emerge with the rapidly escalating use of technology, and the best way to do that is with well-planned IT audit strategies and activities," said Brian Christensen, Protiviti's executive vice president of global internal audit. "We hope our survey results drive organizations to cast a more critical eye on their own IT audit strategy ‑ whether that means establishing a function or cultivating their IT audit team's experience and capabilities."
The Top 10 Technology Challenges
The IT Audit Benchmarking Survey asked participants to weigh-in – through an open-ended question that required a write-in response – on the top technology challenges that organizations face today. The top issues from the perspective of IT audit, including information security, cloud computing, social media, and risk management and governance, are consistent with those commonly cited by C-level executives and IT organizations.
- Information security (including data privacy, storage, and management)
- Cloud computing
- Social media
- Risk management and governance
- Regulatory compliance
- Technology integration and upgradation
- Resource management
- Infrastructure management
- Fraud monitoring
- Business continuity/disaster recovery
IT Audit Risk Assessments – Good and Bad News
While this year's survey shows some improvement in regard to the number of companies conducting IT audit risk assessments ‑ particularly among organizations with revenues of $100 million - $999.99 million, there is still much room for improvement. Most notably, more than 30 percent of organizations with less than $100 million in annual revenues do not conduct any type of IT audit risk assessment.
"Our findings also show that even when organizations do conduct IT audit risk assessments, they have some considerable gaps in their capabilities. Those gaps can be just as damaging as skipping an assessment," said David Brand, a Protiviti managing director and the firm's national IT audit leader. "For example, a majority of our respondents are understaffed, meaning less than 20 percent of their internal audit department is made up of IT audit staff."
Seventy-eight percent of survey respondents from companies with revenues greater than $1 billion see those gaps and have concerns that they may lack the necessary resources and skills to sufficiently address all areas of their IT audit plans. Examples of common gaps cited in the survey include limited ability to provide training for the IT audit team; not using outside resources to provide or augment IT audit capabilities; and lack of qualified IT audit professionals.
Other research findings of note include:
- Sixty-five percent of organizations conduct their IT audit risk assessments on an annual basis, which may not be adequate to keep pace with the current rate of technology change and innovation.
- Evaluating and assessing the IT governance process, as called for under The Institute of Internal Auditors Standard 2110.A2, is not a priority for organizations, regardless of size or region. On average, less than 30 percent of companies have complied with this standard, and less than one in three plans to do so within the next year.
"Companies today face new IT-related risks and challenges every day," Brand said. "Internal auditors need to be more nimble than ever before and must constantly fine-tune their approach to the IT audit risk assessment to make a positive impact on their organizations."
Protiviti conducted its IT Audit Benchmarking Survey in the first and second quarters of 2012. Survey participants were comprised of more than 300 professionals worldwide, including chief audit executives, audit directors, and IT audit directors and managers. They responded to questions covering four categories: IT audit in relation to the internal audit department; assessing IT risk; IT audit in relation to the internal audit department; and skills and capabilities. To learn more about the 2012 IT Audit Benchmarking Survey and obtain a complimentary copy of the report, please visit: www.protiviti.com/ITauditsurvey.
Podcast Available with Additional Survey Insights
Protiviti has produced a podcast that offers David Brand's analysis and commentary about the findings in the survey. Please visit www.protiviti.com/podcasts to listen or download the complimentary podcast.
Protiviti (www.protiviti.com) is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit. Through its network of more than 70 offices in over 20 countries, the firm has served more than 35 percent of FORTUNE® 1000 and Global 500 companies. Protiviti also works with smaller, growing companies, including those looking to go public, as well as with government agencies.
Protiviti is a wholly owned subsidiary of Robert Half International (NYSE: RHI). Founded in 1948, Robert Half International is a member of the S&P 500 index.
Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Aug. 27, 2015 06:15 PM EDT Reads: 372
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Aug. 27, 2015 05:45 PM EDT
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Aug. 27, 2015 02:45 PM EDT Reads: 374
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Aug. 27, 2015 02:15 PM EDT
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Aug. 27, 2015 02:00 PM EDT Reads: 319
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Aug. 27, 2015 01:00 PM EDT Reads: 281
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Aug. 27, 2015 11:30 AM EDT
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
Aug. 27, 2015 10:45 AM EDT Reads: 308
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Aug. 27, 2015 10:00 AM EDT Reads: 117
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Aug. 27, 2015 06:15 AM EDT Reads: 500
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
Aug. 26, 2015 08:00 AM EDT Reads: 150
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
Aug. 26, 2015 07:00 AM EDT
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 3, 2015 06:45 PM EDT Reads: 772
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
Aug. 2, 2015 11:15 AM EDT Reads: 538
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Aug. 1, 2015 10:00 AM EDT Reads: 467
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
Jul. 30, 2015 07:30 PM EDT Reads: 1,555
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Jul. 30, 2015 02:30 PM EDT Reads: 267
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Jul. 30, 2015 12:00 PM EDT Reads: 2,213
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
Jul. 30, 2015 09:00 AM EDT Reads: 2,305
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Jul. 29, 2015 03:00 PM EDT Reads: 1,436