Making the Case for a Security Committee of the Board

[Editor's note: the following excerpt appears in the Directors & Boards Annual Report 2015.]

The daily announcements of cybersecurity breaches, increasing concern about terrorism on critical infrastructures, the rising reputational risks that social media brings, the rapidly changing technology marketplace, and the complexity of managing increasing risks all put pressure on boards to stay up to speed and to be proactive rather than reactive. Traditionally, oversight of operational and technology risks have been the responsibility of the audit committee of the board, as well as the board at large, but that is changing.

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