Cybersecurity and the Potential Need for Cyber Chairs

The true cost of cybercrime is not easy to tabulate. While many companies have experienced its wrath first hand, even more have suffered from cybercrime unknowingly through higher cost, operational issues, brand erosion and lower-quality products. Moreover, consider the lost benefit from products that never even made it to the market as a result of intellectual property theft.

As a result, boards of directors have a responsibility to take a more active role—in fact they have a duty—to ensure that management protects and maximizes the value of their digital assets both within and outside the company walls; and to position the organization for the opportunities and disruptions that arise through digital technology. These risks and opportunities may even warrant board-level leadership: a Cyber Chair.

 

Learn more in this video with Eric Openshaw, vice chairman and U.S. Technology,  Media & Telecommunications leader, Deloitte LLP, and Irfan Saif, principal, Security and Privacy, Deloitte & Touche LLP.

November 21, 2013, 12:01am

Questions? Write to Deloitte Risk Journal Editor

This publication contains general information only and Deloitte LLP and its subsidiaries (“Deloitte”) are not, by means of this publication, rendering accounting, business, financial, investment, legal, tax or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. Copyright © 2014 Deloitte Development LLC.

Read more:

http://deloitte.wsj.com/riskandcompliance/2013/11/21/cyber-in-the-boardroom/?mod=wsjrc_hp_deloitte

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