Australian Boards Lag in Cybersecurity Awareness and Preparedness
Proofpoint and Cybersecurity at MIT Sloan (CAMS) have published the 'Cybersecurity: The 2022 Board Perspective' report, shedding light on Australian board members' views on cyber threats and preparedness.
The report reveals a significant gap between board members' and CISOs' perceptions of cyber risks. While 68% of CISOs believe their organisation is at risk of a material cyberattack in the next year, only 52% of board members share this concern. This disparity highlights a potential lack of alignment between board members and cybersecurity teams in understanding and addressing threats.
Board members' confidence in their understanding of systemic risks from cyber threats is also lower than the global average. Only 54% of Australian board members feel confident, compared to the global average of 75%. This suggests a knowledge gap that could hinder effective decision-making and strategy development.
The frequency of cybersecurity discussions among Australian boards is also lower than the global average. Only 56% of Australian boards discuss cybersecurity at least monthly, compared to 76% globally. This could indicate a lack of prioritisation or insufficient awareness of the importance of regular cybersecurity discussions.
The report underscores several areas where Australian boards could improve their cybersecurity posture. These include enhancing board members' understanding of systemic cyber risks, increasing the frequency of cybersecurity discussions, and aligning board members' and CISOs' perceptions of cyber threats. By addressing these areas, Australian boards can better protect their organisations from cyberattacks and ensure they are prepared for potential threats.
