Cybersecurity considerations and trends for boards and audit committees

How boards of directors can help strengthen cybersecurity at their organizations

Dec 07, 2022

Key takeaways

The SEC has proposed cybersecurity rules that could require boards to address governance gaps.

Boards should examine management’s procedures for assessing materiality of a cyber incident.

Cyber insurance might not offer coverage options for internet-related risks.

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Cybersecurity has been a consistent concern for businesses and boards of directors, although the specific threats are constantly in flux. Organizations encounter a roller coaster of risks, from lingering threats related to the COVID-19 pandemic to geopolitical conflicts and economic uncertainty underscored by the war in Ukraine. As is often the case, bad actors in cyberspace could come from a variety of angles on any given day.

Breaches at large entities have grabbed many of the headlines over the past year. Those incidents continue to prove that no organization is immune to a breach, even larger enterprises that inherently have more resources to implement advanced controls and are generally now doing a better job in fortifying their environments.

How are cybersecurity measures evolving along with threats? What steps can boards of directors take to protect their organization?

RSM examines those questions and more with this collection of insights.


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