Cybersecurity & the CFO: Monetizing Risk

Addressing cybersecurity risk is a higher priority now more than ever before.  Since cybersecurity is an entity-wide issue impacting many areas within an organization, it is important that it is “owned” by a person or group with the appropriate line-of-sight, authority, and access to the board.  Both C-suite executives and board members are more and more finding themselves in a cybersecurity risk oversight role, and as such, are increasing their involvement in management’s development, implementation, and monitoring of comprehensive, enterprise-wide cybersecurity risk management programs.
Given that cybersecurity is an entity-wide endeavor, and that a breach occurring in operations will cause an organization financial loss—potentially a significant one, the CFO, in particular, must find a better way to more accurately monetize the cyber risks in the enterprise. 
Please download our insight to learn more about how SOC for Cybersecurity, a cybersecurity risk management examination introduced by the AICPA, can help organizations meet the growing challenge of communicating to interested parties, both internally and externally, the design and effectiveness of their cybersecurity risk management programs.

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