As part of the ongoing evolution of the role of finance professionals, they are now seen as trusted advisers that can influence senior teams on the importance of addressing the growing cyber threat landscape.
Organisations anywhere in the world are not spared from the risks posed by cyber crimes, especially during this time when technological advancements such as artificial intelligence, machine learning, and automation thrive.
During ICAEW's annual cyber lecture, Irfan Hemani, deputy director of UK Cyber Security Policy at DSIT, points out that accountants can be vital in strengthening corporate defences against cybercrime.
He outlined three steps organisations must take to strengthen their defences:
Step One - Make cyber risk a board-level priority. Effective governance of cyber risk is fundamental to business resilience. Executive and non-executive directors must take ownership.
Step Two - Businesses and their clients must sign up for early warning system, such as that of the National Cyber Security Centre, as this free service informs of potential cyber attacks on your network.
Step Three - Follow Cyber Essentials (CE) throughout the entire supply chain.
As part of the team, finance professionals such as accountants must be able to fully comprehend the importance of cyber security for their respective organisations. As if done and executed correctly, they can ‘change the corporate dial’ on cyber amid threats.
