Friday, January 9, 2015

Time for a Board-Level Cybersecurity Committee?

A three-time CEO and board member of several major corporations, Betsy Atkins says the time has come for corporate boards to establish cybersecurity technology committees.

In light of the massive breaches of the last year, her article in Forbes reminds boards of their fiduciary responsibilities regarding digital data security. Atkins outlines steps boards can take to ensure stronger oversight of organizations' data protection.

"I think the time has come for boards to create a dedicated cybersecurity technology committee.."
- Betsy Atkins, three-time CEO and director at Darden, HD Supply and Schneider Electric
Atkins says, "it is crucial that the board require management to present their policies on cyber security" as well receive updates from the security committee if a breach occurs. Boards might be surprised to find out that a court considers failure to disclose a cyber-attack as a “material omission,” according to some interpretations of new SEC guidance on disclosure.

What do you think? Is it time for a board-level cybersecurity committee?

Learn how to proactively detect identity theft and unauthorized breaches of data privacy, even by authorized users - with no hardware and no on-site software.
Sources:
(a) Why It's Time For A Board-Level Cybersecurity Committee - www.Forbes.com, 12/27/2014

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