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May 28, 2010

nCircle: Security Audit Costs on a Rise



A recent nCircle study reveals that 47 percent of IT security professionals believe that security audit costs will increase in 2010. These findings are based on an online survey of over 250 security professionals that was conducted between February 4 and March 12, 2010, and covered a range of security topics including smartphones, healthcare, cloud computing and social media.

The survey reveals that 45 percent of respondents anticipate no change in 2010 security audit costs and an equal percentage experienced increased security audit costs. A very small percentage i.e. 8 percent of security professionals expect a decrease in security audit costs in 2010. Again, only 6 percent of respondents saw a decrease in security audit costs from 2008 to 2009. A whopping 83 percent of respondents said they are effectively identifying security and compliance issues prior to an audit.

“The increasing complexity of regulatory requirements continues to be a key cost driver for many companies’ compliance initiatives,” said Elizabeth Ireland, Vice President of Strategy for nCircle. “It is interesting to note that, while a significant percentage of companies believe they are identifying security and compliance issues prior to beginning an audit, organizations are not yet realizing the cost savings that can come from process maturity.”

Added Ireland: “Unless companies have a strategy that automates the continuous monitoring required for various regulations and can report on it to suit the requirements of a specific audit, the process remains very resource intensive and costly. There is definitely an opportunity for cost reduction here for the majority of organizations.”

San Francisco, CA (News - Alert) based nCircle provides automated security and compliance auditing solutions to 4,500 enterprises, government agencies and service providers around the world. These solutions allow clients to manage and reduce security risk and achieve compliance on their networks. In another article, TMCnet reported nCircle has enhanced its Self-Service Security and Compliance Portal.


Divya Narain is a contributing editor for TMCnet. To read more of Divya’s articles, please visit her columnist page.

Edited by Patrick Barnard
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