Forbes: Boards Should Elevate Cybersecurity To Major Governance Issue

Forbes suggests the time has come for companies to create Board-level committees to focus exclusively on the issue of cybersecurity. “[W]hen every major breach shares the same telltale strategy, it is a sign that there is something more fundamentally broken in enterprise security that must be addressed,” Betsy Atkins writes for the magazine. With some estimating that up to $21 trillion in global assets are at risk from breaches step one for every board “is to understand that it is supposed to be offering oversight on these risks as part of its fiduciary duty,” she writes. It’s also a must to require that management outline a strategy for technology security and for responding to an incident, including making requisite disclosures in SEC filings. This level of attention to detail may mean recruiting new members with computer security backgrounds.