24 February 2019

Cloud technology poses risk to internal data, expert says

Cloud computing and mobile technology are the top risks companies face in their internal audit because sensitive data may get exposed, Richard Chambers, president and chief executive of the Institute of Internal Auditors, said.

Internal auditors should take precautions regarding how and where their companies store data given the proliferation of technology.

A growing number of companies are storing data in third-party servers through cloud technology and employees are putting company data on mobile devices, he told a media briefing Monday. 

However, Chambers said companies are showing greater recognition of the risks such practices pose and are mindful of the work of internal auditors after the financial crisis of 2008.

One of the challenges the institute faces is the need to continuously improve international audit standards, he said.

– Contact HKEJ at [email protected]


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