What is Security Assessment? Types & Steps to Get Started

Meeba Gracy

Meeba Gracy

Oct 04, 2024

Security assessment

Hackers today are constantly upgrading and using advanced techniques. As a CISO or founder, it is your responsibility to proactively develop countermeasures and protect your organization. The agility to respond however, comes with the understanding of your deficiencies. And that’s where security assessments come in. 

Security audits provide a quick snapshot of all the loopholes the intruders can exploit allowing you to create a tactical mitigation plan. Several compliance requirements also mandate maintaining the security and privacy of data, requiring regular security assessments and penalize you for failing at it.

This blog talks about security assessments, their types and how to conduct one. Read on to learn if there’s a simpler approach to carry out these time-taking assessments.

TL;DR
  • Goal: Understand how security assessments are crucial to protect against threats and attacks
  • Reach: Learn about the different types of security assessments include pen tests, security scans, risk assessments, security audits, and more
  • Results: Conduct security assessments and initiate remediation measures that will strengthen your defenses

What is a security assessment?

A security assessment is a systematic evaluation of the effectiveness of an organization’s security controls to protect its systems, hardware, applications, and data from threats and attacks. It aims to pinpoint the loopholes in the implementation of cybersecurity measures that affect the desired outcomes.

Once these vulnerabilities are identified, they are assigned a risk score based on the impact it could have on your business, and then the assessment ranks the associated risks in importance. The depth and complexity of this risk assessment can vary depending on factors like the organization’s size, growth rate, available resources, and the scope of its asset portfolio etc.

Why do you need to perform a security assessment?

Performing a security assessment is a must because it enables your IT team to strengthen its cybersecurity defenses. Also, these assessments identify areas for potential improvement.

Here are a few reasons you need to perform a security assessment: 

  • It helps identify and tackle potential threats, mitigating security incidents in the long run and saving you money
  • The security assessment establishes a template for ongoing evaluations. This helps in continuous improvement based on the initial benchmark
  • Knowing your vulnerabilities guide investment decisions for better protection
  • Objective, data-driven ratings make monitoring and evaluating short- and long-term performance easier
  • Each assessment report gives you an overview of security status, findings, and improvement suggestions
  • Immensely contributes to compliance efforts and provides a solid baseline for security posture and recommendations for improvement

You can use automation-powered tools like Sprinto to assess your current security and compliance status, scope out gaps and build a pipeline of controls.

The platform integrates with your cloud stack through APIs and enable granular-level monitoring to contain and remediate any security misses.

Security Assessment testimonial

Types of security assessments

It is crucial to choose the right IT security assessment and understand what threats it can defend against. Let’s break down the 4 types of IT security assessments:

types of security assessment

1. IT Risk assessment

This assessment evaluates acceptable and actual risk levels, considering risks’ likelihood and impact. It provides a list of prioritized risks and recommended actions to mitigate them.

IT risk assessments are relevant at any time to identify potential risks to your assets and define protection strategies.

When should you go for an IT risk assessment?

An IT risk assessment is useful in various situations. It’s about understanding and managing potential risks to your company’s assets and deciding how you want to protect them. That’s why it’s relevant at almost any time.

2. IT Audit

An IT audit checks if your current configuration aligns with compliance standards, technically and in terms of documentation. It doesn’t test network security but demonstrates compliance and security definitions within the company.

When should you go for an IT audit?

Audits are mainly about showing that you’re following the rules and proving how good your network security is. Usually, when a company is already compliant with regulations, they tend to be extra cautious about safety.

3. Penetration testing

Penetration tests target your business environment to breach your secure systems via vulnerabilities or security weaknesses. They confirm the security efficiency of software configurations, version management, and local code. Typically, they are best suited for organizations with strong security practices.

When is it the right time for a penetration test?

These tests ensure your software, version control, and local code are secure or identify weaknesses when found. They’re not really for companies with low or medium security levels.

If you’re not already in a good security place, a penetration test might tell you basic things like “patch everything” or “figure out where your sensitive data is.”

So, don’t spend money on a penetration test unless you’ve already done a bunch of vulnerability assessments and fixed what was wrong.

Good Read: 12 Best Penetration Testing Tools in 2024

4. Security Scanning

A security scan aims to identify vulnerabilities in your networks and systems. It is performed using various automated tools to pinpoint misconfigurations or any potential threats that malicious actors could exploit. Different types of security scans include port scanning, network scanning, application scans etc.

When should you perform security scans?

There must be scheduled scans regularly to align with business needs. Security scans must also be performed whenever there are significant changes in infrastructure such as software updates.

5. Posture Assessment

Security posture assessment is an evaluation of an organization’s policies, processes, tech, and defenses to protect against attacks. The assessments help identify the strengths and control weaknesses and enable prioritizing of initiatives accordingly.

Posture assessment reviews incident preparedness, security policies, training completion rates, control assessments etc. It must be performed when an organization wants to understand their current state and aim to move towards a desired state ie robust security posture.

6. Mobile Application testing

Mobile application testing is required if your business mobile application collects, stores, or processes sensitive information. The applications are tested for vulnerabilities or security risks such as malware and smooth functionality.

When do you need mobile application testing?

Mobile application testing is required throughout the development stage to ensure secure app development. You can also perform post-development security testing to ensure it meets the expectations.

7. Application testing

Application testing is also known as software testing, and it scans the software for any vulnerabilities that can lead to a breach or an attack. The testing is done by running scripts or using automated tools to detect any errors in the software’s security, functionality, and user-friendliness. It is performed throughout the software development lifecycle from the requirement gathering stage to the design, development, and post-deployment stage.

8. Ethical hacking

Ethical hacking or white-hat hacking is a type of security assessment where professional hackers enter the system like the attackers would, but with the aim of testing the defenses rather than causing harm. Access to systems is gained after permission and the ethical hackers then report any vulnerabilities and recommendations.

When should you go for ethical hacking?

If you need an unbiased and professional opinion on the effectiveness of your cybersecurity measures, you must go for ethical hacking.

9. Vulnerability assessment

This test aims to find vulnerabilities within your IT environment and assess an attack’s potential severity. It provides a priority list of issues that need attention. This is best used when your security maturity is low and medium, and you must prioritize fixing vulnerabilities efficiently.

Grey-box assessments can be confusing because they’re between a Penetration Test and a vulnerability assessment.

Move towards airtight security with Sprinto

How to conduct a security assessment?

Nowadays, information security threats are constantly evolving. Hence, you need a flexible approach that evolves with time and adapts to the current threat scenarios. Best practices, frameworks, standards, and laws emphasize regular risk assessments. 

Here’s a simple 9-step guide to help safeguard your IT assets:

1. Create a core assessment team

To kickstart your assessment process, assemble a task force within your organization. This group should ideally comprise key figures such as the owner/CEO, the IT manager, and relevant department heads.

This core assessment team will lead the assessment, compile the report, and propose recommendations for improvement.

2. Determine the scope of the security assessment (internal)

The first step in the security assessment process is to determine its scope. This scope could span as broad as your entire organization or focus on specific parts like business units, locations, or processes like payment processing.

Sprinto helps you with the scoping exercise by guiding you on understanding and aligning with cybersecurity compliance frameworks that apply to your business. Learn more here

Once you’ve defined the scope, call out all relevant stakeholders, especially those whose activities fall within this scope. Their input is vital for identifying processes, assets, and potential risks and establishing acceptable risk levels.

security risk assessment

However, before that, it’s important to hold knowledge sessions within the org to demystify the key terminology related to risk assessments. This common understanding helps you communicate with your stakeholders.

If you’d like to eliminate the complicated tech jargon from the equation, try using straightforward risk libraries and visual heatmaps from Sprinto. The library has mostly all risks faced by tech and cloud companies covered and makes it easier to understand their impact.

Security assessment with sprinto

Also, you can refer to frameworks like NIST SP 800-37 or ISO 27001 for guidance and clarity on implementing effective security controls.

Within this step, establish a risk scale that combines the likelihood and impact of security incidents. Remember that risk assessments can be either qualitative or quantitative.

A company’s risk appetite results from analyzing these risks and determining how to respond to them. Some events that are highly unlikely to occur or are unlikely to disrupt the organization significantly may be deemed tolerable by management.

3. Conduct a vendor risk assessment

Now that you know the scope of the risk assessment, conduct a vendor risk assessment. Vendor relationships can bring benefits but also risks related to your organization, cybersecurity, and business continuity.

Perform a vendor risk assessment to get a handle on these potential issues. It involves developing a data-driven predictive analysis of what could go wrong, assessing the likelihood and impact of uncertain events, and prioritizing them.

These risks could encompass data accuracy, operational efficiency, security breaches, and compliance with laws and regulations.

Continuously monitor these relationships to reduce the chances of unexpected problems and build a strong foundation for productive partnerships.

 Monitoring these manually is a hassle; leveraging compliance automation platforms is advised.

Sprinto Advantage

Sprinto helps you continuously monitor your assets 24/7. It can conduct over 100 million checks in a month, alert you of any anomalies, and recommend a risk-based remediation plan to address them.

Prioritize security and compliance risks unique to your business – Book a free demo

4. Conduct an asset inventory

Start by conducting an asset inventory of critical assets essential for your business operations. This inventory includes not just hardware but also applications, users, and data storage, as these all contribute to your potential vulnerability list to external attacks.

Once you’ve identified these critical assets, give each one a value. Simultaneously, map out how data flows within your company, including your interactions with third-party services. This step is vital for ensuring compliance for your critical assets and their integrations. 

Also, build data flow diagrams and pinpoint any weak points or vulnerabilities in your network.

5. Identify security threats & potential weaknesses

After mapping your asset inventory, the next step is identifying potential security threats and vulnerabilities for each asset. 

Also, conducting a security gap analysis is monumental here. These analyses compare your security posture to standards like CMMC or PCI DSS. They help you pinpoint administrative and configuration risks that may need attention.

How does Sprinto help in identifying security threats and vulnerabilities?

With a continuous monitoring feature, Sprinto closely monitors your IT system to detect security weaknesses and alert you of anomalies. It gathers evidence about potential vulnerabilities and threats. You can also upload screenshots manually.

Moreover, Sprinto suggests fixing these security issues, and helping you patch those holes. Also, to keep up with security gaps, regular tests are conducted on third-party solutions to ensure their security.

6. Analyze risks and determine potential impact (to prioritize impact and risk-based gaps).

To prioritize and address risks effectively, you’ve got to analyze and assess their potential impact. So, start by estimating the potential impact of these risks.

For example, consider the consequences of a credit card data breach on your business. This impact can take form in various ways, like financial losses, client attrition, or damage to your brand’s reputation and credibility.

This is why you can categorize the impact of a cyberattack into three levels: “high,” “medium,” or “low,” based on the severity of the impact and its estimated cost.

7. Document the results clearly and concisely in a report

The next step is to document the results clearly and concisely. So, here’s how it goes: a good risk assessment report presents the findings of threat and vulnerability assessments in a way that helps prioritize your remediation plan.

You can use a risk analysis template (risk matrix) for this. A risk matrix compares the likelihood of exploitation against the severity of potential damage from a successful attack.

8. Implement remediation measures

Now that you have a detailed report, here’s how to implement remediation measures:

  • Antivirus software

The era when antivirus software alone provided complete protection is gone. While antivirus remains a big part of cybersecurity, it’s no longer a silver bullet. Modern antivirus software can automatically initiate remediation processes or prompt the user to take action when threats are detected.

  • Automated remediation solutions

Automated remediation tools are gaining prominence due to the complexity of modern networks. This is because these tools can swiftly identify and address security issues, reducing the time it takes to mitigate threats. Moreover, it also minimizes the potential for human errors in the remediation process.

Among all the remediation solutions, Sprinto comes out on top to help you put in remediation measures. 

For example, tools like Sprinto can continuously monitor your security controls. As the control health dashboard updates you on control statuses, you can decide the right course of action when a control fails.

Also, we understand that not all controls are created equal, and some vulnerabilities pose a higher risk to your organization than others. Sprinto’s system employs risk assessment algorithms to prioritize controls, ensuring that you first address the most critical issues with escalation management.

security controls

This could involve additional training for an employee or uploading evidence under change management. Unlike manual remediation, automated tools are event-triggered and will address deviations swiftly.

  • Training

Training your employees and IT team members across all departments regularly is key. A company culture where employees are empowered to respond to threats is essential for an overall security plan.

That’s why conducting bi-annual or annual training sessions is recommended to ensure that your staff is up-to-date with the latest security practices. The benefit of incorporating employee training into your security strategy enhances their awareness of potential threats and what to avoid.

9. Evaluate effectiveness & repeat

Once you’ve put your security remediation measures in place, it’s critical to gauge their delivery/performance efficiency. This assessment ensures that your chosen solutions effectively address your identified vulnerabilities and threats.

Regularly scrutinize the outcome of your remediation plans to see if they are delivering the intended results. If persistent issues or new risks come up, be ready to adapt and enhance your strategy.

The evaluation of effectiveness should be an ongoing process to uphold the security of your systems and not just a one-time process.

Benefits of security assessment

The advantages of conducting a security assessment for an organization and its Chief Information Security Officer (CISO) are significant. After reading the implementation steps, you might feel it is very important. Hence, to drive home the point, here are some of the benefits:

Security awareness

A security assessment ensures you are aware of the security risks in your environment. This fundamental awareness is crucial because you can’t address a problem if you don’t even know it exists.

Provides a snapshot of any vulnerabilities

For a newly appointed CISO, an initial assessment provides a snapshot of any vulnerabilities inherited when assuming the role. This is valuable because it allows you to document and track security issues resolved during your tenure, demonstrating your impact on improving security. 

Documents security progress

Security assessments also document the progress made in safeguarding the company’s assets. CISOs often face the challenge of quantifying the value they bring to the organization, especially when preventing breaches that never occurred.

Hence, when you track the remediation achievements since the last assessment, you can showcase the tangible value of your security efforts.

A security risk assessment is a tool to check if your company aligns with industry-related compliances. Many governments and international bodies mandate various compliance standards. Failing to meet these standards can result in substantial fines and unfavorable consequences.

Schedule a professional security risk assessment

Investing in a professional security risk assessment gives you insights, tools, and expert guidance to strengthen your physical and cyber security. No doubt, it also helps you develop safety solutions and creates effective protocols.

Sprinto is a leading compliance automation platform favored by businesses for risk assessments and remediation plans. Our team of compliance experts stands ready to offer the guidance you need.

FAQs

What is a security assessment report?

A security assessment report (SAR) is an official document that provides an overview of the findings of security assessment as well as recommendations for improvement. It broadly includes an executive summary, methods and tools used for the assessments, details on weaknesses identified and a list of recommendations.

What is the use of security assessment?

The security assessment process involves testing and evaluating security controls to ensure you implement them correctly, function as intended, and achieve the outcomes in meeting the security requirements of an information system or organization.

How long does a security assessment take?

Typically, assessing your environment thoroughly takes about 2 to 3 weeks. During this time, your security advisor will meticulously examine your network to identify risks and vulnerabilities.

What is a security impact assessment?

Security impact assessment is an analysis carried out by a responsible person within an organization. This analysis helps determine how changes made to the information system have impacted its overall security.

Meeba Gracy

Meeba Gracy

Meeba, an ISC2-certified cybersecurity specialist, passionately decodes and delivers impactful content on compliance and complex digital security matters. Adept at transforming intricate concepts into accessible insights, she’s committed to enlightening readers. Off the clock, she can be found with her nose in the latest thriller novel or exploring new haunts in the city.

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