Four in 10 executives surveyed by The Economist Intelligence Unit say the board of directors should oversee cybersecurity policies, while 24% back creation of a specialized cyber committee.
The survey found little consensus among boards and executives on cyber resiliency planning, including deployment of strategies across the organization, where to allocate funds, and which areas of the organization are most at risk. The split in cyber preparedness was also apparent across geographies, as North American companies contrast strongly with their peers in Asia and, to some extent, the EU, on issues such as expectations for frequency and impact of cyber-attacks, and confidence in their ability to recover from a breach.
According to the findings, the average corporate cyber resilience spend was about 1.7 percent of revenue, and 96 percent of board members believe that isn’t enough. North America spent the most on cyber-resilience as a percent