Cy­ber risk re­mains a key fo­cus for di­rec­tors

NZ Business - - INBOX -

Di­rec­tors per­ceive cy­ber-at­tacks to be the big­gest threat to New Zealand busi­nesses in 2017, with 79 per­cent of those sur­veyed rat­ing the im­pact on their or­gan­i­sa­tions strate­gic growth, op­er­a­tional ef­fi­ciency and le­gal/ con­trac­tual com­pli­ance as medium or high.

Some 65 per­cent of re­spon­dents be­lieve the risk en­vi­ron­ment will in­crease dur­ing 2017, in the pub­lic sec­tor that per­cep­tion is shared by 83 per­cent of di­rec­tors.

The third Di­rec­tors’ Risk Sur­vey by Marsh of In­sti­tute of Di­rec­tors’ (IoD) mem­bers, de­signed to gauge di­rec­tor views on a wide range of risk is­sues, says cy­ber-at­tacks, tech­no­log­i­cal dis­rup­tion, rep­u­ta­tional risk, and the time spent on risk over­sight re­main a key fo­cus for di­rec­tors.

Tech­nol­ogy-re­lated risks top this year’s lists for both ex­ter­nal (cy­ber­at­tack) and in­ter­nal (ma­jor IT in­ci­dent) risks con­sid­ered to have the greatest po­ten­tial im­pact to busi­nesses. Sev­enty five per­cent of di­rec­tors sur­veyed con­sid­ered an IT dis­rup­tion to be a high or medium in­ter­nal risk.

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