Executive Briefings

Risks Can Multiply When Execs Hack IT Security Budgets

With cyber risks looming ever larger, CFOs must avoid "starving" information technology security budgets, the author of a recently released survey concerning cybersecurity and corporate governance warns.

Risks Can Multiply When Execs Hack IT Security Budgets

"When you start looking at why [a] company had a weak security program, it usually comes down to allocation of resources," says Jody Westby, the chief executive officer of Global Cyber Risk, a consulting firm. "The CFO should be very concerned, because often it’s the security programs that have been starved for cash."

Nevertheless, complaints about malfunctioning computer security departments seldom rise to the level of the finance chief because IT safety employees often report to chief information officers, who in turn report to CFOs, according to Westby.

Problems with CIOs reporting to CFOs arise when cost-obsessed finance chiefs are prone to automatically nix every project.

Read Full Article

"When you start looking at why [a] company had a weak security program, it usually comes down to allocation of resources," says Jody Westby, the chief executive officer of Global Cyber Risk, a consulting firm. "The CFO should be very concerned, because often it’s the security programs that have been starved for cash."

Nevertheless, complaints about malfunctioning computer security departments seldom rise to the level of the finance chief because IT safety employees often report to chief information officers, who in turn report to CFOs, according to Westby.

Problems with CIOs reporting to CFOs arise when cost-obsessed finance chiefs are prone to automatically nix every project.

Read Full Article

Risks Can Multiply When Execs Hack IT Security Budgets