As a board member in today’s digital economy, what should you be thinking about? Cyber security, for sure.
Cyber risks are evolving and can impact every area of an your operations. These risks change almost daily and can relate to complicated technology issues. When it comes to managing risk, the rapid rate at which technology is changing and the growing cyber risks leave board members in a difficult position.
Here are a few suggestions to help you mitigate cyber risk and achieve greater transparency into your cyber operations:
Seek Assurance of Cyber Controls
In the past, organizations relied on various consultants, internal resources, and sometimes just plain luck to identify and mitigate cyber risks. To guide you, the AICPA just recently issued its much awaited standard on cyber security. The “Cyber SOC” allows CPA’s to audit a company’s cyber security. This fundamentally changes how cyber threats are evaluated and managed, enabling an independent, objective look at an organization’s processes, policies and controls around cyber risks.