The nature of today’s business structures is slowing the ability of businesses to protect themselves, while cyber attackers are becoming increasingly agile, resulting in businesses falling “further behind” attackers and increasing the risk of attack.
A new report, launched today by ICAEW at the Parliament and Internet Conference has collated views of the six largest audit firms on how businesses are dealing with cyber threats.
It concluded that the nature of supply chains, increasing use of digital channels, and storage of data across disparate servers, clouds and mobile devices, mean there are many points of access for attackers to exploit.
Richard Anning, head of ICAEW’s IT faculty said that though awareness of the issue is high, businesses must now take more decisive action.
He said, “Businesses must demonstrate that they are ready to deal with cyber attacks by having a plan of action in place. This is particularly important for businesses hoping to enter a major supply chain or considering IPO, a merger or acquisition. It could also provide a competitive advantage against others in the market.”Ellie Clayton