Call us now:
A report worth reading. Boards are facing increased corporate risk, risk that is slowly putting the breaks on the organisations ability to transform and reduces the flexibility boards and their organisations have to grow and develop.
Geopolitical, economic, regulatory, AI, digital and cyber risk are presenting challenges to board. Digital, security and Ai are all highly ranked in the enclosed report by boards as requiring attention.
To quote a medical term these risk are co-morbid. They occur within the same organisation, they can be initiated internally and externally and in the case of regulatory risk (and legal risk) place governance, oversight and assurance at the feet of board members to demonstrate they can manage risks such as cyber or AI.
For example, as was stated clearly this week the Australian Securities and Investment Commission tend to pursue boards of directors over their management of cybersecurity. That requires boards to have the skills and knowledge to demonstrate that they can mitigate risks and the necessary information to demonstrate governance.
There is a light at the end of the proverbial tunnel however. As is pointed out in the report ”The better the region is regulated, the easier it is for international investors to enter the market, and for regional conglomerates to grow as they can point to the relevant frameworks and rely on the regulations.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Rachel V. Rose, JD, MBA
Veritas GRC Senebria
#cybersecurity #cyberriskmanagement
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