Risk management ‘vital’ for threatening world

Businesses need to ensure that they have appropriate security and processes in place to remain safe and sustainable, according to one accounting firm.

RSM Bird Cameron has emphasised the importance of risk management, in light of the GFC and recent cybercrime activity.

“[The] events demonstrate that it is vital for organisations to identify threats early and respond appropriately,” RSM Bird Cameron director, Michael Shatter said.

“The key is to balance risk and control, to enhance the value that organisations can deliver to stakeholders.”

Mr Shatter said that it’s vital for organisations to stay at the cutting edge of technology risk management, since risks are constantly evolving.

“Support and guidance can make the challenges manageable,” he noted.

One thing organisations should do to improve IT security risk management is to perform an IT audit to identify and understand the risks, according to RSM Bird Cameron.

Another recommendation is for organisations to secure their network to ensure security risks are mitigated.

RSM Bird Cameron also recommends that organisations have a comprehensive disaster recovery plan in place to deal with possible security events.

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