Newspaper article The Journal (Newcastle, England)

Cyber Security: It's Time to Take It Seriously

Newspaper article The Journal (Newcastle, England)

Cyber Security: It's Time to Take It Seriously

Article excerpt

THE PwC 20th Annual Global CEO Survey has found that UK CEOs rate cyber security as their second biggest business threat. And 97% of CEOs stated that their organisations were currently addressing cyber breaches.

Many businesses and boards recognise that cyber security is a risk that requires their specific attention.

However, most struggle to define a comprehensive approach to cyber security that genuinely manages risk rather than implementing "standard" control frameworks in the hope they are sufficient. As a result, the question remains as to whether their response to cyber security threats is adequate.

From our engagements with businesses across numerous sectors of all sizes and across various regions it is apparent that there is a need for a pragmatic, recognised approach to governing cyber security risk that is grounded in practical experience.

There are many frameworks for the management of cyber security focusing on the definition and build of security controls.

But there is little real practical guidance as to what businesses should consider in the governance of their organisations with regard to cyber security.

All organisations are different and each needs to set its own direction and tone for cyber security.

Given the nature of cyber security, this will impact all aspects of a business including strategy, development, supply chain, staff and customer experience.

In coming years, managing cyber security risk will potentially require radical change to businesses and their operations - to make themselves more able to be secure, as well as building security controls.

For this reason, a rigid standard would not be appropriate for governing cyber security, but a principles-based approach allows each business to establish and review its own direction within a recognised framework.

We have developed a concise and comprehensive set of principles for governance of cyber risk. …

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