Information security is one of the fundamental aspects of business risk, according to Mike Maddison, partner at Deloitte.
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Maddison said it was no longer true that business boards do not understand cyber threats as a business risk. “The board does now ‘get it’ in our experience,” he said.
This is evidenced by the number of times information security cropped up as a topic of discussion at the 2013 World Economic Forum summit in Davos Switzerland, he said.
According to Maddison, there is a growing understanding that there are two types of organisation when it comes to cyber security: those that know they have been breached, and those that do not.
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The challenge now, he said, is for the information security industry to advise businesses on how best to respond to that risk and adapt to constantly evolving cyber threats.