Governance Attention for Digital Assets Lacking Suggests Carnegie Mellon Study

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Carnegie Mellon CyLab has released a summary of its third survey regarding corporate governance of the privacy and security of digital assets.  CyLab is a centre for cyber security research. The 2012 study was sponsored by RSA, the security division of the information infrastructure company EMC. A summary of the study is available on the RSA website.

The authors of the 2012 study state that less than one-third of Global Forbes 2000 companies who responded to the survey are undertaking basic responsibilities for cyber governance.  Among the key findings were that:

  • 94% of respondents stated that they had a formal enterprise risk management program; however, half of the respondents reported that they do not have personnel in key privacy and security roles;
  • at the board level, audit committee responsibility for technology risks has decreased in favour of risk committees;
  • however, only one-third (approximately) of the respondents reported that their board of directors are focused on activities that would help protect against reputational or financial losses resulting from breaches of data security and the theft of confidential and proprietary information; and
  • more than half of the respondents reported that their boards do not review insurance policies for protection against cyber risks.

Categories: E-Commerce, Privacy, Records Retention