Understanding the world of the board

In this information age where most organizations are connected to the internet and dependent on information technology and information systems, a cyberattack could easily result in an organization suffering irreparable damage to its reputation, trust, and brand. Cyberattacks disrupt business operations and have a real financial cost. Put simply, a successful cyberattack is highly likely to cause complete disruption to the business and has the potential to put it out of business.

Nonetheless, many firms fail to prioritize cyber risks in the boardroom, resulting in concerning gaps in their cyber-risk evaluation and mitigation. As public and investor awareness of cybersecurity concerns grows, boards increasingly are compelled to commit more time and resources to manage their cyber risk. By adopting a more proactive stance at the board level, firms may embrace the opportunity to enhance their cyber-risk management, expand their access to capital...