Steve W. Klemash is Americas Leader at the EY Center for Board Matters, Pete Cordero is Managing Director-Cybersecurity and Chuck Seets is Americas Assurance Cybersecurity Leader, both at EY. This post is based on their EY memorandum.
In this Transformative Age, technology can make the impossible possible, but it also opens the door to exponentially increased cybersecurity risk.
A company’s board plays an important oversight role and is well-positioned to guide management in the development of an effective cybersecurity risk program.
In spring 2019, the EY Center for Board Matters hosted a series of private dinners as well as its second annual day- long Cybersecurity Board Summit. These gatherings brought together board members for discussions on the latest challenges and leading practices in overseeing cybersecurity risk. Their conversations centered on cyber threats, the processes and controls that can detect and mitigate such threats, the importance of planning and preparing for cyber incidents, and the board’s oversight role.
Read on to learn what we heard in person from over 100 directors who collectively represent in excess of 200 public companies.