In today’s world, where digital threats seem to multiply every day, corporate boards are feeling the heat to step up their cybersecurity game. With the SEC now requiring public companies to disclose how they handle cybersecurity oversight, it’s clear that cyber-risk is a major part of the corporate governance conversation. Boards need to sort out their governance structures, work closely with cybersecurity leaders, and fold cyber-resilience into their overall business strategies.
Key Points
- Public companies must now disclose cybersecurity oversight practices in annual filings as mandated by the SEC.
- Boards should designate a committee for cybersecurity oversight, commonly the risk or audit committee.
- A regular schedule for discussing cyber risks with the CISO is essential, ideally at least quarterly.
- Cybersecurity should be integrated into enterprise risk management to address risks holistically.
- Establish clear communication protocols for reporting cybersecurity incidents to the board.
- Regular training and updates on emerging threats are crucial for board members to stay informed.
Why should I read this?
If you’re involved in corporate governance or just interested in how organisations handle digital threats, this article is a must-read! It’s packed with practical tips to help boards keep up with the ever-evolving cybersecurity landscape. You’ll get the lowdown on best practices that could safeguard not only your company’s assets but also its reputation and stakeholder trust. We’ve done the heavy lifting of summarising these critical points, so dive in and stay ahead of the curve!