In many firms, the equation between Governance, Risk and Compliance around cyber security is becoming heavily weighted towards the G, and GRC functions must adjust as a result, both in terms of internal structures and in terms of interactions with other stakeholders.
Category: Role of the CIO
Over time, unenforced regulations simply get ignored and become useless. It is likely that things won’t change until the regulators make them change, and they will have to go sooner or later through a harder enforcement line.
Cyber security is becoming a matter of good corporate governance, good ethics, and quite simply – good business.
As every enterprise is becoming more and more data-driven, it is key for the Board to realize that cyber security is becoming a central tenet both of its core business and of its social impact and governance strategies.
It is now becoming crystal clear that cybersecurity – beyond good practice and good ethics – is quite simply good business. As a recent Cisco study made clear, cybersecurity will help fuel (and protect) an estimated $5.3trillion in private sector digital Value at Stake in the next 10 years. This is the kind of numbers boards cannot afford to overlook.