Cybersecurity continues to emerge as a key risk that is attracting the attention of regulators and boards of directors. Companies take different approaches regarding how the board…
Click on the following link for the discussion: www.jdsupra.com
Click on the link, which contains a short JD Supra update from Wilmer Hale discussing KPMG’s 2015 Global Audit Committee Survey. The survey is long and contains useful information (over 80 pages). I am making this post because of the discussion about audit committees being given responsibility for cybersecurity oversight. That’s fine, but I suggest that the overall board still must be actively involved in this oversight, you need to be sure that the audit committee members are qualified and have the time to take on this area of oversight, and the audit committee members and other stakeholders should have a good understanding about just what the oversight involves and how the committee should go about that oversight.
As we all know, cybersecurity is an important area of oversight that can significantly effect all businesses. Enjoy.
Dave Tate, Esq. (San Francisco/California)
My other blog: trust, estate, conservatorship and elder abuse litigation, http://californiaestatetrust.com