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Cybersecurity is being regulated whether organisations like it or not. Cyber is well documented to present such a significant threat to organisations and society there are few alternatives. That is not to say that regulations will be so descriptive or set such a high bar, compliance will not be possible. Regulators invariably develop prescriptive regulations, where those that have to comply have the flexibility to demonstrate their compliance.
What we must not forget is that SEC registrants are obliged to report material risks that include cyber security to the markets today. One could say that the regulations put in place a framework so organisations can demonstrate the work they do to assess and mitigate material risks. Driving cybersecurity compliance ‘left of bang’.
The role of the three lines of defence is critical for compliance. With an annual audit of compliance by the third line being an important component of attestation of compliance by the board room.
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #goverance #compliance #cyberregulation #internalaudit #leftofbang #theaugustagroup
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