Posted on June 29th, 2010 No comments
Corporate boards of directors and senior management aren’t adequately involved in the privacy and security of their computer systems and data, according to a report issued Tuesday by Carnegie Mellon University’s CyLab.
The report found that while company boards are taking risk management seriously, there remains a gap in understanding the relationship between information technology, or IT, and risk management. The report is based on the results from 66 respondents to its survey at the board or senior executive level from Fortune 1000 companies. It builds on CyLab’s first survey, conducted in 2008.
“The survey results indicate that boards and senior executives need to be more actively involved in the governance of the privacy and security of their computer systems and data, but this year’s study shows some important areas of improvement,” said Jody Westby, a distinguished fellow in CMU’s CyLab, and CEO of Global Cyber Risk LLC, in a statement.
The report found that a majority of companies don’t have full-time privacy, security and risk executives responsible for those issues. Respondents indicated that corporate boards reviewing privacy and security issues weren’t focusing on activities that would help protect the organization from high-risk situations, such as reputational or financial losses due to breaches of personal identity information or theft of confidential or proprietary information.
Posted on July 7th, 2009 No comments
The financial crisis has put risk-management practices under the microscope, but public company disclosures related to the subject apparently still have a long way to go. That’s according to governance research and rating firm GovernanceMetrics International, which found that standardized disclosure of company-wide risk management is lacking.
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Report: Disclosures on ERM Lacking