Call us now:
Are corporate cyber-risk management practices upto the task of protecting shareholder value? Do boards understand the very simple fact that cyber is an enterprise wide risk, that touches all aspects of an organisations financial statements, cashflow, balance sheet and income?
The regulatory environment in which companies operate is tightening in the US. Driving towards increased regulation, with the subsequent penalties which failure to comply brings. The US treasury recently updated guidance on ransomware payments, this weeks FISMA draft and commentary identifies tighter incident reporting requirements for Federal agencies, their contractors and subcontractors. With acknowledgement that a regulatory fines regime should be adopted to ‘incentivise’ compliance. The SEC is working on cyber-risk governance regulation which one would assume will focus on cyber risk oversight, assurance and reporting.
We once talked about the need for cyber regulation, tighter board governance and cyber compliance. It looks as though it is arriving enforce. Now is the time for boards to focus in on cyber-risk governance and regulatory compliance given its impact on the operational, financial, legal and regulatory risk to which it is tied.
View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6852965149456769024