As cyber threats become increasingly common, it is crucial for companies in Australia to have a robust plan in place to respond to cyber incidents. Conducting regular cyber incident tabletop exercises is an essential part of risk management and can have numerous benefits for an organization.
The frequency of tabletop exercises should be determined based on the size and complexity of the company, as well as the specific risks it faces. It is generally recommended to conduct these exercises at least once a year, or even more frequently.
The key benefits of regular tabletop exercises include improved readiness for real-life incidents, enhanced communication and coordination among departments and partners, identification of weaknesses in current plans, and a boost in confidence among management.
By simulating a cyber incident, companies can test and refine their response plans, ensuring that they are prepared for any eventuality. Tabletop exercises also provide a platform for management to practice communication and coordination with other departments and external partners, such as law enforcement and cybersecurity firms.
Identifying any weaknesses in current plans can help companies take proactive steps to address them, ensuring that they are better prepared for a real-life incident. Furthermore, participating in tabletop exercises can help management become more confident in their ability to respond to a cyber incident, which can reduce stress and panic if an incident occurs.
In conclusion, conducting regular cyber incident tabletop exercises is a critical aspect of risk management for Australian companies. By improving readiness, enhancing communication, identifying weaknesses, and building confidence, tabletop exercises can help companies be better prepared for the inevitable threat of a cyber incident.
Lynden Group Advisors can help Australian companies by providing expert guidance and support in the implementation of digitised tabletop simulations for cyber incident response. Our advisors have extensive experience in the field of cybersecurity and can assist in the creation of realistic, effective, and efficient scenarios for these exercises. With our support, companies can identify areas for improvement, ensure their incident response plans are robust, and better protect themselves against cyber threats.