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Internal Audit’s Role in Navigating Cloud Concentration Risks
September 11 @ 1:00 pm – 2:00 pm EDT
Event description
The risk associated with cloud concentration and mismanagement looms large, with potentially devastating consequences for organizations. As cloud platforms become integral to business operations, companies are transitioning from viewing cloud security as a best practice to prioritizing resiliency. This shift aims to protect financial stability, ensure compliance, and safeguard reputation. In this critical landscape of evolving cloud risks and regulatory demands, the role of an independent Internal Audit takes center stage to ensure an organization becomes resilient to emerging risks.
Join us as we discuss how internal audit can assess and inform the audit committee and the board on the adequacy of your organization’s cloud resiliency processes and controls in alignment with the changing risk landscape.
The discussion will cover:
- Creating cloud audits which evaluate how your organization is adapting to evolving regulatory requirements and managing emerging risks.
- Examples of how cloud programs can be enhanced by combining technical cloud management techniques with risk-based control frameworks.
- Leading practices internal auditors can consider in their audit plans to evaluate their organization’s cloud exit strategy and resilience against cloud service disruptions.
- The cross-industry shift from program audits to cloud security tool effectiveness testing to improve resilience against cloud concentration risks.
- In the event of a cloud service disruption, what is internal audit’s role in the post incident analysis process and the evaluation of management’s corrective action plans.
Date and time
Wednesday, September 11, 2024
1:00 PM ET – 2:00 PM ET
Recommended CPE credits
1
Learning objectives
- Explain how to adapt and respond to evolving regulatory requirements and emerging risks
- Identify risk mitigation strategies to manage operational risks and build operational resiliency
- Define IA’s role with enhanced cloud audits focusing on governance and exit strategies
- Recognize industry audit trends in evaluating organization’s cloud exit strategy and resilience against cloud service disruptions
- Apply leading practices and considerations to improve resilience against cloud concentration risks.
