Principles for Board Governance of Cyber Risk Insight Report 2021
Published: March 2021
Format: PDF (19 pages)
Attributed author(s): yesAttributed research partner: PwC
Overview/preface: yes (Peter Gleason CEO, National Association of Corporate Directors; Larry Clinton President, Internet Security Alliance; Sean Joyce Global & US Cybersecurity, Privacy & Forensics Leader, PwC; Daniel Dobrygowski Head of Governance & Trust, Centre for Cybersecurity, World Economic Forum)
Controlled access: yes
Access:https://www.weforum.org/reports/principles-for-board-governance-of-cyber-risk
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The Principles for Board Governance of Cyber Risk Insight Report 2021 is published by the World Economic Forum, the National Association of Corporate Directors, the Internet Security Alliance and PwC. The report argues that boards of directors need to play a more active role in protecting their organisations from cyber risks.
The report puts forward its guidance in the form of six principles that apply to a wider audience of boards and management teams. These principles aims to show how directors can increase their understanding of cyber risks and to incorprate cyber-risk planning into overall company strategy ‘important’.
The Principles for Board Governance of Cyber Risk Insight Report 2021’s six principles state that cyber-risk-savvy directorial boards should:
Recognise that cyber-security is a strategic business enabler
Understand the economic drivers and impact of cyber risk
Align cyber-risk management with business needs
Ensure organisational design supports cyber-security
Incorporate cyber-security expertise into board governance
Encourage systemic resilience and collaboration
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