IT Security

IT Security Assessment Checklist (What Business Owners Need to Review Before a Cybersecurity Audit)

it security assessment
IT Security
April 16, 2025

When was the last time you looked under the hood of your business’s IT security?

Not talking about installing antivirus software or changing your passwords, but a real, thorough IT security assessment — the kind that shows where your business is most exposed to cyber threats, how effective your current security controls really are, and what would happen if something slipped through the cracks.

The truth is that most business owners feel like they’re walking a tightrope. You’re responsible for sensitive data, keeping your team productive, and managing costs. But then there’s this creeping fear — the one you shove to the back of your mind — that one day, a cyber attack will hit, and everything could go dark.

If that fear sounds familiar, this guide was written for you.

What you’ll find here is not a tech-heavy jargon dump. It’s a real-world, actionable checklist designed to help you prepare for a cybersecurity assessment, identify blind spots in your current security posture, and ultimately safeguard your entire organisation.

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MSP showing an IT security assessment checklist to a business owner.

What is an IT security assessment?

An IT security assessment is a structured process to identify weaknesses in a business’s technology infrastructure, policies, and security controls. It evaluates how well the current setup defends against cyber threats, and highlights any vulnerabilities that could be exploited by attackers.

Think of it as a full body check-up for an organisation’s digital environment. Just as early diagnosis can prevent health issues from spiralling, a well-executed assessment can prevent data breaches, ransomware incidents, and costly downtime.

A typical assessment process looks at everything from endpoint protection, firewall rules, user access levels, and encryption protocols to the strength of security policies and staff training. It’s not just about tech — it’s about understanding how people, systems, and processes work together to protect the business.

Whether performed internally or through trusted partners offering assessment services, the goal remains the same: uncover hidden risks, determine the impact and likelihood of a cyber attack, and strengthen the organisation’s security.

Why business owners should care about cybersecurity audits

A cybersecurity audit isn’t just a tick-box exercise. For many businesses, it's the only thing standing between day-to-day operations and a full-blown crisis.

These days, cyber crime is no longer just a risk for big corporations. Small to mid-sized businesses are increasingly targeted — not because they’re careless, but because attackers know they often lack the secure IT solutions and security frameworks that larger enterprises have in place.

A single vulnerability in your system could lead to leaked sensitive information, interrupted services, or even legal consequences due to non-compliance. These are not just tech problems — they’re business problems. Issues that could erode client trust, damage reputation, or halt growth altogether.

That’s why a proactive cybersecurity assessment is essential. It helps business owners:

  • Understand their current risk profile
  • Prioritise mitigation efforts using real-world data
  • Avoid unexpected costs from security breaches
  • Align with industry-specific security and compliance standards
  • Improve resilience by identifying gaps in existing defences

More importantly, it provides the clarity needed to make informed decisions about the right security investment, helping to safeguard business continuity, client data, and team productivity.

Team conducting cybersecurity audit with assessment tools

Key components of an IT security assessment checklist

A solid IT security assessment checklist goes beyond surface-level scans and looks at the full picture of an organisation’s digital health. Below are the critical areas every business should review before a cybersecurity audit.

Network security and infrastructure

Check firewall configurations, remote access points, Wi-Fi security, and internal segmentation. The aim is to ensure there are robust safeguards in place to stop unauthorised access before it starts.

Endpoint and device protection

Every laptop, desktop, and mobile device is a potential entry point. Confirm that all endpoints are secured with antivirus, endpoint detection and response (EDR), and up-to-date patches.

User access controls

Access to sensitive data should be based on role, not convenience. Review user permissions and multi-factor authentication settings to avoid unnecessary exposure.

Data protection and backups

Reliable data backups and disaster recovery plans are non-negotiable. Assess how frequently data is backed up, where it's stored, and how quickly it can be restored in case of a failure.

Email security and phishing prevention

Email remains one of the top entry points for cyber threats. Check for effective spam filters, email protection tools, and security awareness training programmes to reduce human error.

Policies and compliance documentation

Confirm that up-to-date security policies are in place. These should cover acceptable use, remote work, incident response, and compliance requirements relevant to your industry.

Incident response readiness

Assess whether the business has a clear, documented plan for responding to a cyber attack. Speed and clarity are critical when incidents occur — every second counts.

Third-party and vendor security

Any partner or vendor with system access could be a risk. Evaluate their security posture as carefully as your own, especially when outsourcing to external IT security companies.

The risk assessment process: Identifying your business’s weak points

A risk assessment helps uncover which parts of the business are most exposed to cyber threats — and what needs fixing first. Here’s how the assessment process typically works:

1. Identify critical assets

  • What data is most valuable or sensitive?
  • Think customer details, financial records, IP, or personal health information.
  • This step lays the foundation for the rest of the security assessment.

2. Map out how data flows through the business

  • How is data stored, accessed, and shared?
  • Which departments or tools handle sensitive information?
  • Any gaps here could become security vulnerabilities.

3. Identify potential threats and vulnerabilities

  • Internal risks: human error, weak passwords, outdated software.
  • External risks: cyber attacks, phishing, ransomware.
  • Use tools like penetration testing and vulnerability scans to spot red flags.

4. Assess the impact and likelihood

  • Not all risks are created equal.
  • Use quantitative risk analysis to determine the following:
    • How likely is this risk to occur?
    • What’s the potential business impact?

5. Prioritise based on risk profile

  • High-risk items that could cripple operations? Move them to the top of the action list.
  • This step helps manage time and resources more effectively.

6. Plan for mitigation

  • Identify what safeguards are already in place.
  • Recommend practical ways to mitigate or eliminate each risk.
  • This could include updating security policies, improving access control, or investing in better security solutions.

7. Track and measure

  • Every assessment provides a baseline to measure future improvements.
  • Use it to monitor progress and adapt the cybersecurity strategy as the business evolves.
Business owner reviewing cyber risk assessment results

Common red flags found during security assessments

Spotting issues early is what makes an IT security assessment so powerful. These are the red flags that come up time and time again — and often lead to the biggest headaches if left unchecked.

Outdated software and unpatched systems

  • Legacy systems are a goldmine for attackers.
  • Regular updates and patch management are often overlooked but critical.

Weak or inconsistent access controls

Lack of proper data backups

  • No automated or tested backup and disaster recovery plan.
  • Relying solely on local storage or consumer-grade cloud services.

Unsecured endpoints

  • Devices without antivirus or proper monitoring.
  • No mobile device management in place.
  • Weak or no encryption on company laptops.

Poorly trained staff

No incident response plan

  • No defined protocol for handling cyber attacks or breaches.
  • Teams don’t know who to contact or what steps to follow when something goes wrong.

Shadow IT and unsanctioned tools

  • Staff using personal tools or apps without IT approval.
  • Increases security risks and makes it harder to maintain compliance.

Inconsistent or missing security policies

  • Policies that aren’t documented, outdated, or not communicated.
  • Leaves the organisation open to both internal and external risks.

Tips to prepare for a smooth cybersecurity audit

A cybersecurity audit doesn’t have to be stressful. With the right preparation, it can actually feel empowering — a chance to showcase the progress made and take control of the next steps. Here’s how to make the process smoother and more successful:

Start with a pre-assessment

  • Conduct an internal security review using your own assessment checklist.
  • This helps identify obvious gaps before the official audit begins.

Organise your documentation

  • Gather all relevant security policies, access control lists, incident response plans, and compliance records.
  • Clear documentation speeds up the assessment process and shows auditors the business is serious about security and compliance.

Get leadership buy-in

  • Make sure business leaders understand the importance of the assessment.
  • Their support ensures resources and attention are allocated where needed.

Train your team

  • Brief employees on what the cybersecurity audit will involve.
  • Provide quick refreshers on best practices — especially around data handling and access controls.

Review third-party vendor access

  • Confirm what level of access external vendors have to your systems.
  • Make sure their security posture aligns with your own standards.

Test your backup and recovery systems

  • Show that your data backups actually work.
  • Demonstrating a functioning disaster recovery plan can go a long way in an audit.

Partner with subject matter experts

  • If internal capacity is limited, lean on assessment services or IT security companies with experience in your industry.
  • Their guidance ensures the business follows a proven security risk assessment model.

Final thoughts

No business is too small to be targeted — and no business is too large to be caught off guard. A well-timed IT security assessment isn’t just a nice-to-have; it’s a non-negotiable part of protecting your operations, people, and reputation.

Whether preparing for a formal cybersecurity audit or just trying to get ahead of the next cyber threat, a clear and structured assessment process provides the visibility needed to stay one step ahead.

For Christchurch business owners ready to prioritise security and partner with a team that understands both the tech and the pressure of running a business, OxygenIT offers tailored, enterprise-level support that doesn’t compromise on speed, clarity, or results.

Let us make it happen for you while you focus on growing your business.

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Frequently asked questions

What is a cybersecurity assessment, and why is it important?

A cybersecurity assessment is a structured review of an organisation’s current defences against security threats. It identifies security gaps, evaluates the strength of the existing security setup, and recommends actions to safeguard systems and data. This type of assessment is important because it helps businesses proactively identify risks before they turn into costly breaches.

How does a cyber risk assessment help manage risk?

A cyber risk assessment focuses on the likelihood and potential impact of threats that could compromise your information security. It helps organisations manage risk by providing clear data on what needs immediate attention, enabling better planning and prioritisation of risk mitigation strategies.

Which assessment tools are commonly used during a security risk assessment?

Popular assessment tools include vulnerability scanners, network mapping software, penetration testing platforms, and threat detection systems. These tools work together to uncover weaknesses in your organisation’s security, giving IT teams the insights needed to strengthen defences and improve your security posture.

What does a security risk assessment model typically include?

A solid security risk assessment model includes steps such as asset identification, threat evaluation, vulnerability analysis, and assessment results review. It also accounts for the business’s specific risk environment, allowing tailored recommendations that align with industry standards and the company’s long-term cybersecurity strategy.

Can a cybersecurity assessment support compliance efforts?

Yes. A security risk assessment plays a crucial role in meeting security and compliance requirements. It ensures your organisation follows best practices for information security risk assessment, often required by legal, industry, or contractual regulations.

How often should businesses perform cybersecurity assessments?

Ideally, a comprehensive cybersecurity check should be done at least annually — or more often if the business handles sensitive data, faces frequent infrastructure changes, or operates in a high-risk industry. Regular assessment services ensure any new security threats or weak points are identified and addressed quickly through timely remediation.

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