11.2.2 Cybersecurity

Cybersecurity

Cybersecurity has emerged as a critical issue in corporate governance, as cyber threats become increasingly sophisticated and frequent. Data breaches, ransomware attacks, and other cyber incidents can have severe consequences for companies, including financial losses, reputational damage, and legal liabilities.

Boards of directors have a crucial role in overseeing cybersecurity risks and ensuring that the company has adequate measures in place to protect its digital assets. This includes investing in cybersecurity infrastructure, conducting regular security audits, and developing incident response plans. Directors must also stay informed about emerging cyber threats and regulatory requirements related to data protection.

Cybersecurity governance requires a holistic approach that involves not only technical measures but also employee training and awareness. Companies must foster a culture of cybersecurity awareness, where employees understand the importance of protecting sensitive information and adhering to security protocols.




Last modified: Monday, 21 October 2024, 10:49 AM