Five years ago, when the reality of the cyber security threat began reaching the boardroom and audit and risk committees, only 15 percent of directors felt “very confident” their board oversaw cyber risk adequately.
Today, cyber security preparedness and investments are front and center for directors. Increasingly, they are overseeing cyber security as a function of the audit committee with a top-level review headed by security experts. Seventy-two percent of board members in a recent survey by advisory firm BDO said their board is more involved with cyber security than a year ago.
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