IT Risk Matrix
IT Risk Matrix
The Securance Risk Matrix is a process of estimating a risk score for each auditable technology. Assessing risk is typically undertaken to focus attention on significant audit areas, to allocate scarce audit resources to the most important audit areas, and to help with key audit prioritizing decisions such as frequency, intensity and timing.

Our methodology offers several critical categories an Organization may want to use when assigning risk scores to a particular auditable technology; including:
  • Corporate reliance on a technology
  • Any recent major changes to the system
  • Prior audits of a technology
  • Number of system users
  • Internal customer impact if unavailable
  • Technology complexity
  • External customer impact if unavailable
  • Future life of technology
  • Financial exposure related to loss of data
  • Frequency of user turnover
  • Potential security threats
  • Compliance requirement
  • Commercial system vs. internally developed
  • Adequacy of IT staff managing the technology
  • Level of Admin tasks required for a system
  • Vanilla install or heavily customized
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This points out that the riskiness of a specific auditable technology is based on multiple factors. Audit frequency, intensity, timing, and resources are also key components that we consider when developing your Information Technology Risk Matrix. 

Typical auditable technologies include:
  • Applications (financial and operational)
  • Database technologies (i.e. Oracle, MS SQL, DB2)
  • Platform technologies (i.e.MS Windows, UNIX, Linux)
  • Perimeter: Firewalls, IDS, IPS, Routers
  • IT Processes and Infrastructure Systems:
    • System Development Life Cycle Management
    • User Authentication
    • Change Patch Management
    • Email and Messaging Systems
    • Data Center Controls
    • Disaster Recovery Plans

To learn more about our approach or to have Securance develop an IT Risk Matrix of your organization's auditable technologies, please contact us. 
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