With the ever-increasing dependence on technology and increased complexity in global supply chains, cyber threats are becoming more sophisticated, frequent and impactful.
As cybersecurity incidents have increased sharply across the globe – now more than ever - companies and governments are aware of the need of robust cybersecurity risk management programs.
The value of Third Party Assurance (TPA)
The cyber threat landscape poses significant risks for organisations today, and the consequences of a breach can be severe. From a good governance perspective and to mitigate these risks, organisations must take proactive steps to protect against these cyber threats by developing a comprehensive cybersecurity strategy and communicate on these efforts to relevant parties.
These parties can be any stakeholder internally and externally – Board of Directors, management, investors, business partners, customers, regulators and others – who would benefit from these insights to make informed decisions. This is exactly where Third Party Assurance reports can be uniquely positioned – providing independent assurance on a subject matter such as a cybersecurity risk management program.
In the report below, our BDO experts in risk, cybersecurity and reporting dive deeper into:
- The different global cyber regulations
- The SOC (System and Organisation Controls) for Cyber
- The importance of Third Party Assurance (TPA) reporting and how BDO can help you
How can BDO Help?
In today's complex and threat-prone digital landscape, organisations must prioritise robust cybersecurity risk management programs. BDO Malta can assist your organisation in the following ways:
- Assessing your current cybersecurity risk management program
- Conducting a gap analysis and recommend remeditiation strategies
- Providing Third Party Attestation Reporting (e.g. SOC for Cyber) on the organisation's cybersecurity risk management program and effectiveness of the related processes and controls in place
Don't hesitate to contact our technology team for any questions you might have.