While cybersecurity budgets and involvement are rising, information sharing is still low.
According to BDO Technology Advisory Services’ 2016 Board Survey, a heartening 80% of directors say they have increased company investments in cybersecurity over the last year, with an average budget expansion of 22%.
And, 74% of public company directors report that their board is more involved with cybersecurity than it was 12 months ago.
This is the third consecutive year that board members have reported increases in time and dollars spent on cybersecurity; and, the survey identified improvements in the number of boards with cyber-breach response plans in place (from 45% to 63%).
"Over the past three years, the BDO Board Survey has documented the ascension of cybersecurity up the boardroom agenda,” said Shahryar Shaghaghi, BDO Technology Advisory Services national leader and head of International BDO Cybersecurity. “Corporate directors are being briefed more often and are responding with increased budgets to address this critical area.”