Internal audits are required for Compliance and Certification of the ISO27001 standard. Most certification bodies will not allow you to proceed to certification without a full suite of internal audits.
Some companies wish to undertake the audits in house using their own staff, there are some risks with this including:
Non-compliance with the Standard: Internal audits conducted by an unqualified or inexperienced internal auditor may result in non-compliance with the ISO27001 standard. Poor knowledge of the Standard will not provide the assurance you need. This can lead to increased costs for re-auditing or failing the certification phase.
Inefficient use of resources: Inefficient internal audits lead to the misallocation of resources, both human and financial. This includes the time spent by employees on ineffective audits, potential rework to fix unidentified issues, and the lost opportunity of using those resources in other strategic initiatives.
Increased security risks: Undetected security vulnerabilities or weaknesses in your organisation’s information security practices. This increases the risk of data breaches, cyberattacks, and potential financial losses associated with data breaches, such as legal liabilities, customer compensation, and reputational damage.
Stress and anxiety: There may be extra stress related to in-house internal audits. There may be a conflict of interest for the member of staff undertaking the audits, they may not know how to undertake an effective audit and may not identify non-conformity’s and opportunities for Improvement.
Missed opportunities for growth: The inability to obtain ISO27001 certification or demonstrate robust information security practices may lead to missed business opportunities. Potential clients or partners who prioritise information security may choose competitors who have the certification, resulting in a loss of revenue and market share.