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Latest insights - 4 items
As businesses increasingly shift towards digitisation, cybersecurity management has become a top priority for senior management and cybersecurity teams.
To defend against cybersecurity threats and risks, companies can turn to established IT standards and frameworks such as:
- Cybersecurity Framework – NIST Cybersecurity Framework, ISO:27001 / 27002
- Controls Framework – Control Objectives for Information and Related Technologies (“COBIT”), Information Technology Infrastructure Library (“ITIL”)
- Regulatory Standards - Singapore Cybersecurity Act Cybersecurity Code of Practice for Critical Information Infrastructure (“CSA CCoP”), MAS Technology Risk Management Guidelines, MAS Cyber Hygiene Guidelines, Singapore Personal Data Protection Act (“PDPA”)
These standards can help companies develop and implement effective security measures, enhancing their overall cybersecurity risk management. For example, the NIST Cybersecurity Framework outlines 5 core functions - Identify, Protect, Detect, Respond and Recover - which provide a comprehensive view of the cybersecurity risk management lifecycle. Companies can also use the framework's implementation tiers (ranging from Partial - Tier 1 to Adaptive - Tier 4) to evaluate and improve their current cybersecurity risk management processes. PwC’s Digital Trust Insights 2023 survey revealed that respondents recognised the need to further advance the five basic cyber capabilities outlined in the NIST Cybersecurity Framework.
How we can help you
At PwC, we possess extensive expertise in evaluating technology controls using frameworks. We can help you determine if your cybersecurity and IT practices are aligned with the standards, providing stakeholders with a comprehensive understanding of your cybersecurity risk management posture.
- Gap analysis and maturity assessment
- Audit compliance
Gap analysis and maturity assessment
We can assess your company’s current information security state against established IT standards and frameworks. Beyond the initial assessment, we can help you develop a roadmap towards achieving the target state of information security management. In addition, we can assist with the development of policies and processes based on the standards or regulatory requirements.
Audit compliance
The potential monetary and non-monetary consequences of cyber non-compliance are becoming more costly. Failure to adhere to established frameworks and standards may put organisations at greater risk of cyber incidents, which could lead to significant penalty fines from regulators, reputational damage, and more.
We can help you review your IT systems and processes against established IT frameworks and standards or your own information security framework, to identify non-compliant practices.
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