Call us now:
So I’m looking for someone to take a bet and its not the 3:10 at Haydock. Although as a metaphor the horse has left the starting gate, with US market regulators and the EU forging ahead with ESG reporting requirements for publicly traded firms.
One expects there to be a flurry of activity focusing on Environmental, Social and Governance and their material balance sheet impact for public firms. But recent statements from the SEC chairman and commissionaires are clear that the direction of travel is the oversight of material risk reporting, and cyber risk governance is being regulated for by the SEC.
Placing my board advisory hat on, cyber is one of the biggest non-financial risks sitting at the board table for of most public firms. It’s one of the most expensive to manage, the COE of BoA stating this week that they spend $1Billion a year to manage cyber security. So with ESG out of the starting gate and with the regulatory authority of the SEC. How will public firms manage material ESG and cyber risk oversight and assurance as they will no doubt be expected to do?
Ted Dziekanowski Jason Spezzano Brian McCarthy
#cybersecurity‚Â #SupplyChainRiskManagement‚Â #CyberRiskManagement‚Â #riskmanagement‚Â #compliance‚Â #insurance‚Â #cyberinsurance‚Â #insurance‚Â #regulatorycompliance‚Â #regulatoryoversight‚Â #esgrisk‚Â #cyberregulation
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