Internal Audit’s Top Priorities Include Social Media

Protiviti’s 2014 Internal Audit Capabilities and Needs Survey Report queried more than 600 internal audit professionals about the social media risks that threaten their businesses.  The five largest are:

  1. Financial loss
  2. Interrupted business continuity
  3. Loss of intellectual property
  4. Loss of employee productivity
  5. Viruses and malware

However, despite this awareness of the risks, many companies are still not adequately addressing them.  While executive management is becoming more aware of the risks and more organization are formalizing social media processes, “Significant improvements remain necessary, particularly related to the inclusion of social media evaluations in audit plans as well as the integration of social media into incident response activities.”

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