CIMA launched an updated version of a resource designed to help finance professionals tackle the growing threat of cyberattacks.
The CGMA Cybersecurity Tool guides users to successful outcomes through robust risk management, response, and remediation strategies.
“Cybersecurity is a key conversation in the world’s boardrooms — it’s about building resilience, ensuring that businesses can stand up to the challenges and meet the opportunities of a digital-first world,” Andrew Harding, FCMA, CGMA, chief executive–Management Accounting at the Association of International Certified Professional Accountants, said in a news release. “Finance professionals have a deep understanding of risk, compliance and reporting, and financial planning. They’re uniquely positioned to help their organisations build resilience against cyber threats. This latest edition of the tool equips them with insight and strategies to manage risks and respond effectively to incidents.”
According to the news release, the tool features steps to assess and respond to cybersecurity risk, providing finance professionals with guidance on:
- How to protect sensitive data.
- Influencing software investment decisions to prevent, detect, and neutralise cyber threats.
- Risk management and governance structures.
- Incident response and recovery.
- Evaluating cyber security insurance.
A recent IBM report estimated that the average data breach costs $4.44 million.
— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.