Cyber Risk Assessment – Prioritize Assets for Protection

Field: Auditing | Delivery Method: Self Study | CPE Hours: 1.5

Cyber risk is one of the top business risks today. Information technology continues to evolve ad cyber risk continues to escalate. It is important that all individuals understand the basics of cyber risk and threats. In addition, organizations must learn to develop effective cyber risk programs and appropriately measure cyber risk. This course is complimentary the other Cyber Risk courses this presenter has prepared.

As discussed in the segment on cyber risk management frameworks, multiple risk management frameworks exist and can be effectively utilized by organizations to establish their cyber programs. These learning segments utilize the NIST Framework (National Institute of Standards and Technology (NIST) established by executive order in February 2013) as a template for assisting in understanding the various components that should be assessed related to cyber risk. Separate segments delved into the specifics around performing a Cyber Risk Assessment (RA) and the “identify” function. This function assists organizations in knowing what assets may be at risk for a cyber-attack/cyber breach. Once assets are identified, the NIST framework suggests organizations then protect those assets.

In order to right-size your cyber security efforts, organizations must develop a process to properly prioritize their assets and apply cost balanced mitigation controls. This segment will evaluate various methods to assign priorities to identified assets.
Lesson objectives:
  • Explore how identification of assets ties to prioritization.
  • Examine high level methods to prioritize risks.
  • Explore how to prioritize using the criticality concept.
  • Explore the use of impacts in assigning priorities.
  • Explore the use of likelihood applied to assigned impact in assigning priority.
  • Explore using criticality components combined with impact and likelihood to assess residual risk

Field: Auditing
CPE: 1.5
Delivery Method: Self-Study
Format: Video

Your Instructor

Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive

Business Consultant, Trainer, Author

Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.

As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.

Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma

Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.

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