The Financial Report Council (FRC) is the UK’s independent regulator responsible for promoting high standards of corporate governance, reporting…

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The Financial Report Council (FRC) is the UK’s independent regulator responsible for promoting high standards of corporate governance, reporting, audit, and actuarial work. In this podcast on Corporate Governance, published this week. Kate O’Neill, Maureen Beresford, and Wendy J Barnes discuss the role of corporate governance over cybersecurity risk.

Cybersecurity risk management is an increasingly regulated risk, and governance over cybersecurity risk is explicitly regulated for some companies in the US, the EU, GCC, and APAC. For example, Abu Dhabi Financial Services Regulator, the ADGM, recently published a cybersecurity risk management regulation, the EU regulates cyber under EU NIS 2, EU DORA, and EU CER. Cyber is a material risk that falls within the responsibilities of the board to govern, oversee, and assure. It is considered a material risk, and at a minimum, boards must address cyber risk as part of their fiduciary responsibilities.

The podcast is worth listening to to get a sense of the move by the UK to regulate cybersecurity risk management, governance, and requirements for UK boards to govern, oversight, and assure cyber risk.

@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Bryan Foss

Veritas GRC

#cybersecurity #cyberriskmanagement #cyberregulation #cybergovernance

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