Are businesses leaving themselves hugely exposed by having weak risk management systems and in some cases none in place at all?
According to a CareersinAudit.com survey, nine in ten SMEs are vulnerable to cyber attacks and other IT threats. Data leakage, which includes loss of customer and business data, data access and harm to data, is the greatest IT risk for SMEs (38%), followed by cyber attacks (21%) and not being compliant to regulation (17%). The 304 IT and financial auditors surveyed said the main reason why SMEs are at such risk is because business owners do not put IT investment as a top priority. The report added that business owners' lack of understanding about the risks and technical knowledge of protection mechanisms is fuelling the situation.