Friday, February 23, 2024

World-Renowned LSU Center for Internal Auditing to Add Cybersecurity and Environmental, Social and Governance Issues

by BIZ Magazine

BATON ROUGE – The LSU Center for Internal Auditing, the world’s first and premier university-based internal audit education program, is expanding to include a greater focus on cybersecurity risk and environmental, social & governance, or ESG, issues. In recognition of these changes, the program has been renamed the LSU Center for Internal Auditing & Cybersecurity Risk Management, or LSUCIA&CRM.

“Building on the success of the groundbreaking internal audit program, we are meeting critical business needs and ensuring that graduates will thrive in the careers of tomorrow,” said E. J. Ourso College of Business Dean Jared J. Llorens. “Cybersecurity, ESG reporting, and talent development have been identified as top risk factors for companies for the foreseeable future. LSUCIA&CRM addresses all three critical issues. Not only does this benefit employers, but it provides students from all backgrounds the opportunity to launch a lucrative and rewarding career in internal auditing.”

Cyber risk is a business issue impacting organizations of all sizes. The costs related to cybercrime and other breaches continue to grow. According to IBM statistics from 2022, the average data breach in the US costs $9.44 million; the same statistics show that a ransomware attack costs $4.54 million, while destructive attacks cost an average of $5.12 million. Curriculum enhancements will help students identify cybersecurity concerns when looking at an organization’s overall risk profile. Students who pursue additional cybersecurity courses will do so with a strong foundation in internal auditing principles.  

“Certifications are a hallmark of our program,” said Professor Glenn E. Sumners, director of the Center for Internal Auditing and Cybersecurity Risk Management. “We provide students with the background needed to pursue credentials, including the Certified Internal Auditor, or CIA, and the Certified Information Systems Auditor, or CISA, the standard of achievement for professionals who audit and assess an entity’s information technology.”

In addition to cybersecurity, students will receive instruction in ESG issues. Faced with new SEC regulations requiring ESG disclosures, many companies and financial services firms are moving ESG activities under risk and compliance teams. As a result, internal audit professionals must have a comprehensive understanding of ESG. To address this need, the internal auditing program first held a pilot course on ESG in fall 2022 and is on track to add the class to LSUCIA&CRM’s permanent offerings starting next academic year.

“Companies seek out our graduates because of their preparation and professionalism. By adding a focus on cybersecurity and ESG, we know that the demand will become even greater. The LSUCIA&CRM program will enhance job prospects for any LSU student, no matter their major,” Sumners said.

These curriculum enhancements support LSU’s Scholarship First Agenda—Defense Priority by producing leaders who are essential to protecting our economy, critical infrastructure, and vital resources.

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