Deloitte Cyber Threat Risk Management Point of View Helps Corporate Boards Tackle the Question: "Could This Happen To Us?"

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Feb 15, 2012, 11:00 ET

NEW YORK, Feb. 15, 2012 /PRNewswire/ --

What: Deloitte's new point of view: "Risk Intelligent governance in the age of cyber threats: What you don't know could hurt you"

Who: Henry Ristuccia, partner, Deloitte & Touche LLP, governance and risk management services co-leader
Rich Baich, principal, Deloitte & Touche LLP, cyber threat and vulnerability management services leader

When: Available immediately online

Where: www.deloitte.com/us/cyberthreatrisk

Details: Continuing reports of cyberattacks on high-profile businesses – as well as recent SEC guidance urging companies to consider disclosing cybersecurity incidents – are prompting boards of directors to start exploring cyber threat risk with their executive teams and ask the question – Could it happen to us?

Unfortunately, at most companies, the short answer may well be that it’s already happening. However, at many companies, boards may experience unexpected challenges at the very first step: understanding the company’s current exposure to cyber threat risk and its effectiveness in managing it.

And the end result could be devastating. From vandalizing an organization’s website to shutting down networks, perpetrating fraud and stealing intellectual property, cyber attacks and espionage can deal a serious blow to a company’s brand and reputation. Moreover, concerns about data security could also prompt current and prospective future customers to take their business elsewhere, and negative reactions among investors may even drive losses in market value.

Compounding the situation is the reality that many organizations may not be as effective at managing cyber threat risk as they are at managing risk in other areas, because cyber threats are both a relatively new and constantly evolving source of risk.

“Risk Intelligent governance in the age of cyber threats: What you don’t know could hurt you,” is a new point of view from Deloitte’s governance and risk management services and security and privacy services practices that is designed to provide organizations with an understanding of their capabilities for managing and mitigating the ever-present risk that cyber threats pose today. The Deloitte report advises companies to evaluate how their organization may transition its cyber threat risk management practice towards a more proactive, preemptive and mature approach.

As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.