Are Corporate Boards Giving Greater Importance to Cybersecurity?
Definitely! EY's study indicates that CISOs from Fortune 100 companies are now working more closely with board of directors and senior executives.
How are corporate boards changing their approach to cybersecurity?
Recent findings indicate that corporate boards, particularly in Fortune 100 companies, are increasingly prioritizing cybersecurity oversight. A study by EY revealed that over 60% of these companies now recognize cybersecurity as an area of expertise needed on the board, a significant increase from just 20% in 2018. Additionally, 80% of companies reported how often management updates the board on cybersecurity matters.
What is the role of CISOs in board engagement?
The study shows that CISOs are becoming more involved with corporate boards, with 57% of Fortune 100 companies designating a specific individual, often a CISO or CIO, to report cybersecurity issues directly to the board. This marks a notable increase from 23% in 2018, reflecting a shift towards more structured communication regarding cybersecurity risks.
What are the new SEC rules regarding cybersecurity disclosures?
The new SEC rules mandate that companies disclose material cybersecurity incidents within four business days of determining their significance. Furthermore, companies are required to identify any board committee overseeing cybersecurity risk and to disclose the processes used to inform these committees, enhancing the accountability and transparency of cybersecurity governance.
Are Corporate Boards Giving Greater Importance to Cybersecurity?
published by Attracting Solutions
Attracting Solutions offers a full range of Information Technology (IT) products and services, for business, education, and public sector. We are partnered with industry leaders such as Microsoft, Lenovo, Juniper, Fortinet, Aruba, Xerox, Lexmark, Google, Amazon, and more. Attracting Solutions prides itself for providing quality solutions built around proven technologies and workflows.
We prioritize the needs of our customers with dedication to professionalism, honesty, and integrity. Our staff has over 30 years' experience delivering the products and services our customers rely on to be successful.
Attracting Solutions provides managed services for businesses delivering proven technology solutions at affordable prices. Our mission is to make IT secure and dependable, easy to use, understand and integrate into customer workflows.
Sign in with LinkedIn