Effectiveness of cybersecurity audit

Sergeja Slapničar, Tina Vuko, Marko Čular and Matej Drašček

International Journal of Accounting Information Systems, 2022, vol. 44, issue C

Abstract: The aim of this paper is to analyze the effectiveness of internal audit of cybersecurity. We developed a Cybersecurity Audit Index composed of three dimensions – planning, performing and reporting – to address this question. We hypothesize that cybersecurity audit effectiveness is positively related to cyber risk management maturity and negatively to the probability of a successful cyber attack. We tested our hypotheses in a survey with auditors and Chief Audit Executives from various countries and industries. We found that Cybersecurity Audit Index scores significantly vary, with a mean of 58 on a scale from 0 to 100. While the planning and performing phases are strongly and positively correlated, they are less strongly related to reporting about cyber risk management effectiveness to the Board of Directors. As predicted, the Cybersecurity Audit Index is positively associated with maturity, but contrary to expectations, it is not related to the probability of a successful cyber attack. This is the first paper that comprehensively measures the effectiveness of cybersecurity audit and its effects on cyber risk management.

Keywords: Cybersecurity; Internal audit; Assurance; Index; Maturity (search for similar items in EconPapers)
JEL-codes: M15 M42 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ijoais:v:44:y:2022:i:c:s1467089521000506

DOI: 10.1016/j.accinf.2021.100548

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