The exciting E-talk on the topic “Technology Risk and Audit” was organized on 20th March 31, 2021, and the speaker for the lecture was Ms. Nidhi Shetty, a Senior Manager at Morgan Stanley. The motive of the lecture was to elevate the knowledge of Technology Risk and Audit among students, also to give corporate exposure through scenarios related to Risk and Audit.
Speaker began the session with certain objectives i.e. explain about Audit, what do we expect from individuals for those who want to pursue a career in Audit, and explain the fundamentals through examples. She covered (a) basics of technology risk (b) drivers in today’s age for technology risk (c) what exactly is technology audit (d) what is the value add of technology audit in an organization.
She started the inquisitive session by interacting with students by asking valuable questions, like what is Technology Risk? Then she explained its importance and where and why it plays a vital role in organizations. She also explained security incident happened at various organizations and how deeply free services provided by other vendors are vulnerable. She also talked about GDPR and its security-related aspect where she explained how limited information is required and how it is related to technology risk.
In between the session she also enjoyed answering the questions from the students, all questions has been answered insightfully. She continued explaining the objective of the Audit and the actual workaround of the CIA triad. Later she explained the reporting related to technology risk and audit, and how information and cybersecurity are interrelated. She also explained vendor and third-party management involvement in Technology Risk and Audit. With individual explanation through different scenarios about technology risk and audit the speaker, she elevated the session. The role of audit is the crux of security: auditing multiple applications, screen each data processing and transactions and evaluates control design and effectiveness, also how compliance has its effect on technology audit following regulations.
She also explained how to plan well the implementation of controls for enhancing security because spending inaccurate could cause huge loss to any organization. While ending the session she intermingles enjoyed the Q&A session.