Assessing the Level of Internal Audit Readiness in Mitigating Cyberattack Risks and Ensuring Information Security: (A Field Study on North Africa Bank – Sabratha Branch)
DOI:
https://doi.org/10.65422/sajfas.v2i2.487Keywords:
Internal Audit, Internal Audit Readiness, Risk Management, Governance Role, Value Addition, Cyberattacks, Information Security, Libyan Commercial BanksAbstract
This study aimed to evaluate the level of internal audit readiness, based on its modern dimensions (risk management, governance role, and value addition), in mitigating cyberattack risks and enhancing information security through a field study conducted at Bank of North Africa – Surman Branch. The study adopted the descriptive-analytical approach and used a questionnaire as the primary data collection instrument. A total of 40 questionnaires were distributed to internal auditors, information technology staff, department managers, section heads, and bank employees. Of these, 36 valid questionnaires were retrieved and analyzed using the Statistical Package for the Social Sciences (SPSS).
The findings revealed a good level of internal audit readiness in mitigating cyberattack risks and enhancing information security. The readiness level reached 82.65% for the risk management dimension, 83.33% for the governance role dimension, and 82.10% for the value addition dimension, while the overall internal audit readiness level reached 82.69%, indicating a good level of readiness. Furthermore, the results of the One-Sample T-Test and Pearson Correlation Coefficient demonstrated statistically significant evidence supporting the acceptance of both the main hypothesis and the sub-hypotheses. These findings confirm the effectiveness of the modern dimensions of internal audit in mitigating cyberattack risks and strengthening information security within the bank,The study recommends continuously enhancing the competencies of internal auditors in the field of cybersecurity, expanding specialized training programs, strengthening coordination between the Internal Audit Department and the Information Technology Department, and periodically updating risk management plans to address evolving cyber threats. It also recommends reinforcing governance practices and improving security controls to enhance internal audit readiness and strengthen information security in Libyan commercial banks.
