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This the feature article from our Issue #3, 2017 FIRMA FORUM Newsletter. Members can view the entire issue, and past issues, in our archive

Board Oversight of Cyber Risk

By Dolores Atallo 

A top five risk for many organizations across most industries, cyber risk presents a moving target as organizations undergo major IT transformations, accelerate cloud computing adoption, increase digitali- zation investments, advance data and analytics sophistication, and expand mobile device use to leverage exponential increases in computing power for competitive advantage. As these innovative IT transforma- tion initiatives keep expanding the digital footprint, they outpace the security protections companies have in place. This dilemma presents a sobering reality: security and privacy internal control structures that are effective in reducing risk to an acceptable level today will inevitably become inadequate in the future and even sooner than many may realize. In fact, organizations already may be breached and not know it. Board of directors need to ensure that the organizations they serve are improving their cybersecurity capabilities continuously in the face of ever-changing cyber threats.

Download the 2017 #3 FIRMA FORUM