Baker Tilly Kuwait Introduces Cybersecurity Audits for the Kuwaiti Banking Sector as One of Their Authoritative Provided Services
Kuwait City, Kuwait, May 22, 2021 --(PR.com)-- The cybersecurity audit service is based on the Cybersecurity Framework for Kuwaiti Banking Sector issued by Central Bank of Kuwait (CBK). It is now a requirement for all local banks to engage an independent third-party firm to audit the cybersecurity controls to ensure their compliance with the Framework.
As per CBK Circular dated 1 February 2021, the deadline is 1 August 2021 for local banks to regularize their status and fully comply with the cybersecurity baselines as set out in the Cybersecurity Framework for Kuwaiti Banking Sector.
In this regard, Baker Tilly in Kuwait highlighted that CBK defined the permitted term of engagement of the independent third-party auditor to provide Cybersecurity Audit services to the same bank, which is set at two years.
The cybersecurity audit report should be prepared and submitted to a bank’s Board of Directors on a quarterly basis.
Given the crucial importance of cybersecurity, cybersecurity audits should be performed by an independent third-party firm to include the examination of security controls in place in the CBK-regulated entities to ensure availability, integrity and privacy of information.
It is worth mentioning that Baker Tilly is a registered firm with CBK for providing this service, meeting all requirements of the independent third-party firm, as it has an academically and professionally qualified team with previous experience in the field of cybersecurity audits.
About Baker Tilly Kuwait
Baker Tilly in Kuwait is an international accounting and auditing firm that provides independent professional services in assurance, tax, consulting and training, serving different business sectors and industries.
At Baker Tilly, we influence and are influenced by all the elements surrounding us within the State of Kuwait as well as the global arena.
Baker Tilly has well established local experience under an umbrella of a global network comprising more than 250 cybersecurity experts.
As per CBK Circular dated 1 February 2021, the deadline is 1 August 2021 for local banks to regularize their status and fully comply with the cybersecurity baselines as set out in the Cybersecurity Framework for Kuwaiti Banking Sector.
In this regard, Baker Tilly in Kuwait highlighted that CBK defined the permitted term of engagement of the independent third-party auditor to provide Cybersecurity Audit services to the same bank, which is set at two years.
The cybersecurity audit report should be prepared and submitted to a bank’s Board of Directors on a quarterly basis.
Given the crucial importance of cybersecurity, cybersecurity audits should be performed by an independent third-party firm to include the examination of security controls in place in the CBK-regulated entities to ensure availability, integrity and privacy of information.
It is worth mentioning that Baker Tilly is a registered firm with CBK for providing this service, meeting all requirements of the independent third-party firm, as it has an academically and professionally qualified team with previous experience in the field of cybersecurity audits.
About Baker Tilly Kuwait
Baker Tilly in Kuwait is an international accounting and auditing firm that provides independent professional services in assurance, tax, consulting and training, serving different business sectors and industries.
At Baker Tilly, we influence and are influenced by all the elements surrounding us within the State of Kuwait as well as the global arena.
Baker Tilly has well established local experience under an umbrella of a global network comprising more than 250 cybersecurity experts.
Contact
Baker Tilly Kuwait
Hisham Sorour
+9651887799
https://www.bakertilly.com.kw
Hisham Sorour
+9651887799
https://www.bakertilly.com.kw
Contact
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