Managing Cyber Risk: Are Companies Safeguarding Their Assets?
In the last few years, companies both in the United States and abroad have witnessed the steady growth of cyberattacks and corporate espionage. The financial losses and, worse, often irreparable reputational harm such incidents wreak have served to place a target squarely on the backs of board members to ensure they are properly overseeing cyber risk.
To get a better grasp on how U.S. boards are handling cybersecurity roles and responsibilities, NYSE Governance Services, Corporate Board Member and RSA, in association with EY, surveyed more than 200 audit committee members this spring on a variety of issues regarding their cyber risk oversight program. This paper will outline the top-line issues surrounding cyber risk oversight and highlight the findings of our study on directors’ opinions related to their role in cyber risk oversight.
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