Call us now:
Here lies the problem Boards and CAEs face, as Cyber Regulation starts to bite into the boardroom. The 10 red flags expose boards to legal risk, as cyber regulations require boards to demonstrate oversight and assurance of cyber risk, and potential civil and criminal penalties.
EU Cyber regulation sets out roles and responsibilities for internal audit to assure cyber risk. A risk that many audit professionals are not skilled or experienced enough to assure. More worrying is that cyber is a Top 5 board risk that requires the 3rd line to evaluate. If auditors cannot do this, then the board relies on 1st and 2nd lines, with no independent assurance.
Boards will be left exposed unless they and audit cannot work together, and board and management committee members will be carrying the legal risk.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Richard Chambers
Veritas GRC
#cyberregulation #audit
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