As cyber security efforts evolve to become an integral part of broader risk management, here are six issues for boards to consider.
Cyber security efforts continue to evolve from keeping out the “bad guys” to making cyber security an integral part of the company’s broader risk management effort.
“It’s time for a change in how we look at cyber risk,” said Charlie Jacco, principal, KPMG Cyber Security Services. Jacco joined Fred Rica, principal, KPMG Cyber Security Services, and Jose Rodriguez, leader of KPMG’s Audit Committee Institute, to discuss the top cyber security issues for boards during KPMG’s March Quarterly Audit Committee Webcast.
Several factors have propelled an increased focus on cyber security and information protection in recent years: rapid shifts in technology, the growing volume and sophistication of threats, the ongoing migration to automated and cloud-based services, the explosion of and focus on data, and more rigorous regulatory requirements. From a board perspective, there are six critical issues to consider, according to Jacco and Rica.