Technology has presented a slew of challenges for organisations, but none greater than those surrounding privacy.

While data breaches are always a cause for concern, obstacles are also presented in the form of privacy regulations that force businesses to adhere to numerous forms of red tape. Choosing not to do so could result in costly repercussions. The rise of social media has intensified these obstacles, especially since on average people have 5.54 social media accounts. There’s an inherent conflict between privacy and social media, and the modern-day IT auditor should be well aware of it, says Tony Redlinger, internal audit director at IHS Markit.

“There’s this inherent conflict and companies are dictated to protect information that people are just giving away for free,” Redlinger told Internal Audit Insights during a video interview shot at the IT Audit & Controls Conference. “Information is big business.” From an IT audit standpoint, it’s critical to be open-minded in order to tackle these challenges, he adds.

In the full video interview below, Redlinger provides further insight on the impact that social media has had on privacy—and more importantly—the obstacles it’s presenting for IT auditors today.

Click here to watch the video.