Organizations’ data and systems can be compromised by seemingly benign entities—third-party contractors, vendors, and outsourced service providers—when those entities are seemingly innocent. External entities that perform these tasks must have access to sensitive data and systems. However, improper management of these access rights often results in data breaches and other security incidents when they are not properly managed.
According to a Security Scorecard study (via Security magazine) published in February 2024, third parties pose a continuing security risk to organizations. According to the report, 98% of all companies have been compromised by a third party, and 29% of all breaches have been attributed to third-party attacks.
Consequently, organizations should consider implementing efficient and effective third-party risk management strategies to safeguard their assets from the threat of external threats.
Keeping an organization’s security, compliance, and operational concerns in mind is essential when it comes to auditing the access rights of external vendors and contractors. In addition to protecting data integrity, confidentiality, and availability, it also serves multiple other important functions within an organization.
Security Posture Enhanced by Auditor: Audits ensure that only authorized third parties can access sensitive systems, and as a result, security incidents can be prevented by monitoring activity for abnormal behaviour. Data Access Control over data access is
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