Are information security professionals equipped to navigate today’s rapidly evolving digital risk environment? IBM reported that the average cost of a data breach reached a record high of 4.35 million in 2022, a 12.7% jump from 2020.

Yet, existing methods for managing information security are lagging: An AuditBoard flash poll of InfoSec professionals in April and May 2022 found that traditional approaches have become fragmented, labor-intensive, and largely insulated from the business. Without intervention, existing risk management methods can lead to gaps in digital risk coverage and ineffective assurance efforts.

Authored by John Wheeler, Senior Advisor, Risk and Technology at AuditBoard and former Gartner analyst, the 2022 Security Risk Trends: InfoSec Must Transform to Keep Pace With Digital Business report outlines key issues, including:

• Digital risk is lurking in “shadow IT” — new devices, software, and services outside the control of the IT organization.
• A lack of understanding of their organization’s network of third parties.
• Misalignment between business areas experiencing the most digital transformation and those that InfoSec teams collaborate with most.

Download the full report to explore how InfoSec professionals can adapt their approach to better meet the challenges of this changing landscape.

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