Business Roundtable Flags Cybersecurity as a Top Issue for Firms to Address

In its annual Principles of Corporate Governance publication, Business Roundtable on Thursday highlighted cybersecurity as one of the key challenges facing companies today.

The 2016 edition of the group’s flagship report says that to promote business resiliency, chief executives and management teams need to maintain a strong cybersecurity environment.

“As part of its risk oversight function, the board periodically reviews management’s plans to address business resiliency, including such items as business continuity, physical security, cybersecurity and crisis management,” the report said in describing best practices and principles for leadership. “Management identifies the company’s major business and operational risks, including those relating to natural disasters, leadership gaps, physical security, cybersecurity, regulatory changes and other matters.”

The report adds that the use of technology of all sorts, such as email, “should be accompanied by safeguards to protect the security of information and directors’ electronic devices and to comply with applicable document retention policies.”

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