For financial institution leaders, risks to information technology are no longer limited to the tech team. IT risks can affect customer trust, vendor oversight, regulatory readiness, and daily decision-making.
According to the IMF’s Global Financial Stability Report, cyberattacks have almost doubled since the COVID-19 pandemic, and nearly one-fifth of reported cyber incidents affect financial firms.
The FDIC recently noted how operational risks remain critical as cybercrime changes and new technologies are adopted. Nearly 92 percent of community banks surveyed for the report identified cybersecurity as an extremely important or very important internal risk priority.
An IT audit for your institution should do more than confirm compliance. A strategic audit can show where risk is building, where processes are slowing your team down, and where stronger controls can support better operations.
An IS Assurance and Advisory perspective can make the audit even more useful. Instead of viewing technology risk as a standalone IT issue, your institution can evaluate systems, controls, third-party relationships, and operational processes in the context of broader risk management. Taking a broader view helps translate audit findings into insights your leadership team can use to strengthen compliance, improve efficiency, and support better decisions.
