Most businesses should run a cyber risk assessment at least annually, with an additional review after any significant change (new systems, new staff processes, or a notable incident) since risk profiles shift as the business and its technology evolve.
Annual, as a baseline
Most businesses should run a cyber risk assessment at least annually, with an additional review triggered by any significant change, new systems, new staff processes, or a notable incident, near-miss or otherwise. Risk profiles shift as the business and its technology evolve, so a fixed annual date alone isn’t quite enough on its own to stay current.
Is annual really enough on its own?
For most small businesses, yes, provided additional off-cycle reviews happen after significant changes rather than everything simply waiting for the next scheduled date to come around. The annual review is the floor, not the entire strategy.
Does industry affect how often this should happen?
Yes. Businesses in higher-risk or more heavily regulated industries, such as those handling significant volumes of sensitive customer data, often warrant more frequent review than the general annual baseline suggests is sufficient elsewhere.
What typically triggers an off-cycle review?
New systems or software, new third-party integrations connecting to your data, an actual security incident, or a notable change in staff handling sensitive information or systems access are the most common and sensible triggers for reviewing risk outside the normal annual cycle.
Also worth knowing
- Annual assessment is a reasonable baseline for most small businesses.
- Additional reviews are warranted after major system or process changes.
- A business that’s never assessed its risk has no real basis for its current security decisions.