88% of board of directors find cybersecurity as a biz risk

88% of board of directors find cybersecurity as a biz risk

AgenciesUpdated: Sunday, November 21, 2021, 06:13 PM IST
article-image
Even as business leaders are aware of the need to secure the enterprise against new and evolving threats, responsibility for security mostly lies with IT leadership / Representational Image |

Nearly 88 per cent of boards of directors view cybersecurity as a business risk as opposed to a technology risk. However, only 12 per cent of them have a dedicated board-level cybersecurity committee, according to a new report.

Even as business leaders are aware of the need to secure the enterprise against new and evolving threats, responsibility for security mostly lies with IT leadership, says global market research firm Gartner.

Gartner found that in 85 per cent of organisations, the CIO, CISO or their equivalent was the top person held accountable for cybersecurity and just 10 per cent of organisations held non-IT senior managers accountable.

"It's time for executives outside of IT to take responsibility for securing the enterprise," said Paul Proctor, distinguished research vice president at Gartner.

"The influx of ransomware and supply chain attacks seen throughout 2021, many of which targeted operation- and mission-critical environments, should be a wake-up call that security is a business issue, and not just another problem for IT to solve," he added.

IT and security leaders are often considered the ultimate authorities for protecting the enterprise from threats. "Yet, business leaders make decisions every day, without consulting the CIO or CISO, that impact the organisation's security," Proctor stressed.

CIOs and CISOs must rebalance accountability for cybersecurity so that it is shared with business and enterprise leaders, the report mentioned.

Gartner recommended that IT and security leaders work with executives and board of directors to establish governance that shares responsibility for business decisions that affect enterprise security.

"After years of such heavy investment in security, Boards are now pushing back and asking what their dollars have achieved," said Proctor.

(With inputs from IANS)

RECENT STORIES

What The Union Budget Means For India’s Youth
What The Union Budget Means For India’s Youth
93% Of Travellers Link In-Flight Comfort To Post-Landing Well-being, 60% Flyers Willing To Pay Extra...
93% Of Travellers Link In-Flight Comfort To Post-Landing Well-being, 60% Flyers Willing To Pay Extra...
PFC–REC Merger Likely To Boost Renewable Financing, Strengthen Grid Funding And Expand...
PFC–REC Merger Likely To Boost Renewable Financing, Strengthen Grid Funding And Expand...
Godrej Consumer Q3 Profit Surges 62% QoQ To ₹529 Crore, Revenue Grows 5% YoY To ₹3,694 Crore
Godrej Consumer Q3 Profit Surges 62% QoQ To ₹529 Crore, Revenue Grows 5% YoY To ₹3,694 Crore
Will Raising STT Actually Stop Speculation?
Will Raising STT Actually Stop Speculation?