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Security: CFOs Finally Begin to Team up with CIOs to Battle Cyber Security

By Dick Weisinger

A survey by Raytheon/Ponemon in late December 2014 found that there was a steep disconnect between CIOs and their non-CIO C-level executive counterparts.  Chief Information Security Officers portrayed their companies as ill-equipped to combat cyberattacks and lacking the resources to improve cyber defenses.  But two-thirds of the non-CIO C-level executives didn’t think that cybersecurity should be a high priority.

Larry Ponemon, chairman and founder of Ponemon Institute, explained that “high-profile cyber security breaches are closing the gap between CISOs and CEOs by forcing meaningful security discussions into corner offices and boardrooms.  In the meantime, … there is still a large delta between resources and needs, as security leaders lack both funding and manpower to adequately protect assets and infrastructure.”

But a newer study by BDO USA LLP found that many CFOs have been convinced that cybersecurity is something that they will need to get behind.  That study found that two-thirds of CFO’s are increasing budgets for security in 2015.  Money is going into creating response plans, buying new software security tools, and bringing in both new employees and consultants to help bolster security efforts.

Aftab Jamil, partner and leader of the technology and life sciences practice at BDO, said that “in any organization where you have those types of functionalities, it will be very difficult for the CFO to not have an active role.”

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