Baker Tilly recently co-hosted a webinar with the Association of College and University Auditors (ACUA) for audit, internal audit, cybersecurity and risk management professionals:
Cyber and IT risks are an inherent part of any higher education institution and can impact a college or university’s ability to conduct operations in support of its mission and student success. These risks require continuous identification, assessment and monitoring. Every institution must manage cyber risks, handle cybersecurity incidents and inevitably maneuver through a data loss or breach event. Per the 2019 “Cost of a Data Breach Report” study conducted by the Ponemon Institute, the average total cost of a data breach in the education industry is $4.77 million. Could your higher education institution afford this?
The cyber-criminal threats influencing academia come from financially motivated adversaries. College and university auditors must engage before, during and after cybersecurity incidents and/or breaches to help the business get back up and running and effectively assess what happened, why it happened and how to detect and prevent events in the future.
Managing cybersecurity risks and assessing your institution’s IT risk is a critical component of institutional operations. Our specialized higher education cybersecurity team is here to help your college or university prevent and detect future cyber incidents.
Contact us today for more information about how we can help.
In the meantime, check out our cybersecurity and internal audit resources for higher education.
