New research from Proofpoint suggests that Australian board-level buy-in to prioritising cybersecurity lags well behind global counterparts. The Cybersecurity: The 2022 Board Perspective report was published in conjunction with Cybersecurity at RMIT Sloan and explores company directors’ perceptions of key challenges and risks and surveyed 600 board members from 12 countries.
Key Australian findings include:
Only 58% of Australian board members see cybersecurity as a top priority — the lowest score out of all 12 countries surveyed (global average 77%).
Just 54% of Australian board members are confident in their board’s understanding of systemic risks from cyber threats — the second lowest at 11th place of all countries surveyed (global average 75%) — and 72% feel that they’ve made adequate investments in cybersecurity.
Half of Australian boards agree that organisations should be required to report a material cyber attack to regulators within a reasonable time frame — the lowest of all 12 countries surveyed (global average 80%), whilst 34% disagree (highest of all countries).
Just over half (56%) of Australian boards discuss cybersecurity at least monthly — compared with 76% of boards globally.
Two-thirds (66%) of Australian boards expect an increase in their cybersecurity budget in the next 12 months, the lowest of any market surveyed (global average 87%). In addition, 22% expected budgets to go down, compared to the global average of 5%.
The report explores three key areas: the cyber threats and risks boards face, their level of preparedness to combat those threats and alignment with CISOs based on sentiments uncovered in a previous Proofpoint report (2022 Voice of the CISO). The study found a disconnect between the two sides in cyber risks, consequences and threats.
“It is encouraging to see that cybersecurity is finally a focus of conversations ac ..
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