BDO USA Survey: 79% of Public Company Directors Say Boards More Involved in Cybersecurity; Gregory Garrett Comments

Gregory Garrett

A new BDO USA survey has found that 79 percent of board members at public companies say their boards have become more involved in cybersecurity efforts than they were in the past year.

The company said Tuesday its corporate government practice polled 140 public company directors in August for the 2017 BDO Survey on Cyber Governance.

The survey found that 78 percent of respondents said their organizations have increased investments in cyber defense efforts in the past 12 months and that only 25 percent of directors said their companies share cyber threat data with external entities.

“Sharing information gleaned from cyber-attacks is a key to defeating hackers, yet just one-quarter of directors say their company is sharing information externally,” said Gregory Garrett, head of international cybersecurity at BDO USA.

“This behavior needs to change,” Garrett added.

Sixty-one percent of company directors said their organizations have incident response plans in place in the event of a cyber attack, while 60 percent of respondents said their companies have initiated measures to address ransomware-related threats.

The survey also showed that only 40 percent of corporate directors are aware of the American Institute of Certified Public Accountants’ Cybersecurity Risk Management Framework that seeks to guide companies on how to design a risk management program.

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