The latest enterprise risk management news from around the world

NAVEX Global has released key findings from a survey of IT security professionals in the US and UK on collaboration between IT and risk management functions.

The findings include:

  • Respondents state that IT and cyber security risks were broadly considered part of their organization’s overall risk profile and should be addressed holistically:
    - Fully 95 percent of respondents say their organizations include cyber security within their overall integrated risk management (IRM) approach.
    - 91 percent say cyber security is considered a top business risk within their organization.
  • 74 percent of respondents report increased collaboration between IT security and enterprise risk management over the past year. This suggests organizations recognize better coordination is required to mitigate serious cyber security failures.
  • 78 percent say their company’s investment in cyber security has increased in the past year.
  • 82 percent indicated that recent data breaches have either greatly or somewhat impacted the way their organization prioritizes cyber security.

Increased coordination

Respondents state that collaboration between IT/cyber security and the risk management functions increased last year. Among smaller organizations, those with 1,000–4,999 employees, 75 percent said there was an up-tick in coordination with their risk management counterparts. The number grows to 85 percent of respondents at companies with 5,000–9,999 employees. Finally, organizations with 10,000 or more employees also indicated increased coordination but the number drops to 61 percent. This is probably because larger companies already recognize the benefit of this type of coordination and cooperation says the report.

About the survey

Conducted by OnePoll on behalf of NAVEX Global in April and May 2021, the survey includes responses from 375 senior level IT security professionals in the US and UK, all of whom work at companies with 1,000 or more

www.navexglobal.com


Want news and features emailed to you?

Signup to our free newsletters and never miss a story.

A website you can trust

The entire Continuity Central website is scanned daily by Sucuri to ensure that no malware exists within the site. This means that you can browse with complete confidence.

Business continuity?

Business continuity can be defined as 'the processes, procedures, decisions and activities to ensure that an organization can continue to function through an operational interruption'. Read more about the basics of business continuity here.

Get the latest news and information sent to you by email

Continuity Central provides a number of free newsletters which are distributed by email. To subscribe click here.