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Aug 17, 2017 10:00:00 AM

Cyber SOC:  What Middle Market Board Members Should Know

The AICPA has issued a much-anticipated standard on cyber security. The new guidance, referred to as the “Cyber SOC,” creates a process that CPA’s can use to review and report on a company’s cyber security. In the past, organizations relied on various consultants, internal resources, and sometimes just plain luck, to identify and mitigate cyber risks. The Cyber SOC fundamentally changes how cyber threats are evaluated and managed. It allows for an independent, objective look at an organization’s processes, policies and controls around cyber risks. 

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Topics: Data Breach, Cyber Security

Mar 9, 2017 11:00:00 AM

Protecting the Organization From Growing Cyber Threats

As we continue in our series, Top Middle Market CFO Challenges for 2017, the growing threat of cybercrime is becoming top of mind for today’s CFOs. Cyberattacks are on the rise. In 2016, the number of US data breaches increased 40%—an all-time record high according to the Identity Theft Resource Center.

It may be easy to assume that the responsibility for addressing cyber risks rests with your IT department, because after all, these appear to be mostly IT-related risks. However, what may be less obvious are the very significant financial risks involved with a cyber breach. This should be keeping most CFOs up at night. 

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Topics: Data Breach, CFO, Cyber Security

Dec 8, 2016 10:00:00 AM

Building Your Cybersecurity Strategy for 2017

Developing a cybersecurity strategy can give your organization the foundation and mandate to develop good policies and procedures for improving resilience. As 2016 comes to an end and we begin looking into 2017, I want to reflect and provide a few observations of strategic cybersecurity mistakes we have seen this year resulting in major losses for many organizations.

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Topics: Strategy, Cyberattack, Cyber Security

Feb 4, 2016 10:30:00 AM

3 Issues Your Board Should Monitor in 2016

If the recent financial crisis taught us anything, it taught us the value of a high-functioning board of directors. An educated, involved board can help steer an organization away from needless risk and into a balanced governance structure – the board handles oversight while management handles day-to-day operations.

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Topics: Board Members, Governance, succession planning, Cyber Security

Oct 29, 2015 11:00:00 AM

Don’t Get Spooked by Your Vendor’s Cybersecurity

It’s Halloween, and tiny goblins will be out for trick or treat on Saturday night. In this week’s blog, I thought I’d give you a few tips so you won’t be tricked by your vendor’s cybersecurity.

If you outsource any of your services or business functions, your vendor’s security becomes your security. Outsourced service providers include payroll processing companies, vendors pulling data to perform analytics, or anyone else who has access to your organization’s networks, applications or data. You might have the systems under your direct control locked down, but you may still be vulnerable to weaknesses in your business associate’s security. 

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Topics: Cyber Security

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