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Commentary

Cyber preparedness in the boardroom

Directors in 2020 should approach cyber risk from a governance and duty of oversight perspective.

By Nick Goldin and Karen Hsu Kelley | March 12, 2020 at 05:30 AM
Drawing on the governing standards, case law, and regulatory guidance, however, set forth below are 10 universal questions that directors might ask as part of their oversight of a company’s cybersecurity program. (Credit: Rawpixel.com/Shutterstock) As others have noted, there is no “one size fits all” approach when it comes to cybersecurity given that different sectors present different cyber risk profiles. Drawing on the governing standards, case law, and regulatory guidance, however, set forth below are 10 universal questions that directors might ask as part of their oversight of a company’s cybersecurity program. (Credit: Rawpixel.com/Shutterstock)

As companies of all sizes continue to face growing cyber risks, more corporate directors than ever appear to appreciate that their role as fiduciaries requires them to maintain a sustained focus on data privacy and cybersecurity just as much as they oversee more traditional elements of enterprise risk management.

But even as boards increasingly expand their oversight of cybersecurity programs, there is a growing likelihood that their oversight will be challenged in the courts and second-guessed by regulators. The continued growth in the scope and number of cyber incidents will lead to more scrutiny of a board’s oversight of a company’s preparedness, mitigation, response and resiliency programs.

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