Cyber Experts Admit to Feeling Overwhelmed by Demands of the Digital World According to ISACA Study
The Information Systems Audit and Control Association (ISACA) has released its 2024 State of Cybersecurity Survey report, providing insights into the current state of cybersecurity in Australia and globally.
According to the report, more than 1,800 cybersecurity professionals from around the world, including a significant number from Australia, participated in the survey. Jo Stewart-Rattray, ISACA's Oceania Ambassador, stated that while there are less reported cybersecurity incidents in Australia than the global average, organisations must maintain vigilance.
One of the key findings of the survey is that cybersecurity budgets in Australia are underfunded, with only 33% expecting an increase in the next year. This lack of funding is a concern for many, as more than half of respondents in Australia (53%) expect a cyberattack on their organisation in the next year.
Another challenge facing Australian organisations is the lack of knowledge about cyber insurance. 57% of organisations in Australia don't know what kind of cyber insurance, if any, their organisation carries.
Retaining qualified cybersecurity candidates is another issue, with more than half of survey respondents in Australia having difficulties retaining qualified personnel. High work stress levels, poor financial incentives, and recruitment by other companies are the main reasons for leaving.
Jon Brandt, ISACA Director of Professional Practices and Innovation, suggests that employers should address the occupational stress their digital defenders are facing to prevent burnout and attrition. He also emphasised that employees in the cybersecurity field want to feel valued.
The main skills gap reported in cybersecurity professionals in Australia are soft skills, especially in communications, critical thinking, and problem-solving, and cloud computing.
Australian cybersecurity professionals are feeling stress at slightly higher rates than their global peers for reasons including a complex threat landscape, low budget, worsening hiring/retention challenges, and lack of prioritisation of cybersecurity risks.
The report also highlighted that 29% of organisations in Australia are experiencing increased cybersecurity attacks, with social engineering, third-party attacks, security misconfiguration, sensitive data exposure, and unpatched systems being the top attack types.
Employers in Australia prioritize prior hands-on experience and credentials held when hiring for open cybersecurity roles. However, 44% of organizations in Australia have no open cybersecurity positions, while 42% have non-entry level positions open, and 14% have entry-level positions open.
The survey results do not contain information about which organisation in Australia has the most open cybersecurity positions according to the ISACA 2024 survey.
Globally, cybersecurity professionals are feeling the strain of insufficiently trained staff at a higher rate than in Australia (45% vs 37%). Stewart-Rattray stated that each cyberattack in Australia is increasing in complexity.
In conclusion, the ISACA 2024 State of Cybersecurity Survey report provides valuable insights into the challenges facing the cybersecurity industry in Australia. Organisations must address the issues of underfunding, lack of knowledge about cyber insurance, retention challenges, and skills gaps to ensure they are well-equipped to handle the increasing complexity of cyber threats.
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