Potential for undetected breaches is CFOs’ biggest cybersecurity concern

Posted 7.28.14 by

Ever wonder what your company’s CFO is most worried about when it comes to cybersecurity? We may have your answer.

Dig deep down through Grant Thornton LLP’s bi-annual survey of CFOs and other senior financial executives for a pretty good hint. Right there on page 23 of the 28-page report:

What are your business’s top cybersecurity and data privacy concerns?

59% — Potential for undetected breaches
54% — Customer/client data privacy
50% — Unknown and identified risks
42% — Employee and workplace data privacy
32% — Compliance with data security laws

(Respondents were able to select more than one answer.)

More from the report: “Forty-two percent of chief audit executives listed data security/privacy as a risk area that has the potential to impact growth, and 70% include this risk in their internal audit plan. More than 40% of in-house counsel claim that the risk of a cybersecurity/data privacy breach has increased in the past year, but 17% are unsure what was being done to deal with these risks in their organization.”

(Oh, and here’s some good news from that same report: Sixty-eight percent of CFOs expect an increase in the average per-employee salary over the next year!)

Grant Thornton Spring 2014 CFO Survey


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