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A great post Tanya Gass and indicative of the challenges board face today in addressing cybersecurity. The UK has fallen behind partner nations in addressing cybersecurity risk. While the EU and US have move ahead to make cybersecurity risk management a requirement for oversight and assurance by covered companies, the UK has remind behind the curve.
The Marks and Spencer, Co-op and Harrods cyber attacks and recent announcements by the National Cyber Security Centre demonstrate an urgency for boards to manage cybersecurity risk. Placing appropriate qualified advisors into the board room to advise on, oversight and assure cybersecurity risk is no longer a nice to have. The M&S cyber attack will cost the company conservatively £300 million. Thats less than the cost of its transformation program and appropriate qualified and experienced of Board Advisors.
Attacks on publicly traded US companies, is the reason the Security Exchange Commission regulated cybersecurity for market entities in 2023.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberattack
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