AuditBoard’s new report in collaboration with Ascend2, Decode the New SEC Cybersecurity Disclosure Ruling, reveals that 68% of survey respondents are overwhelmed by the new U.S. Securities and Exchange Commission (SEC) cybersecurity disclosure ruling established in October 2023.
In January 2024, Auditboard surveyed over 300 security professionals who are closest to the efforts their organizations are implementing to comply with this new ruling. These professionals largely represented enterprise companies in the U.S. with over $100M in annual revenue, spanning several industries, departments, and roles — including senior leadership and executives.
Many executives are still in the initial stages of conducting gap assessments, assigning responsibility for remediation, establishing standards for determining materiality, creating new disclosure processes, and implementing technology.
According to the data, IT risk and compliance leaders:
- Anticipate significant impact on their business as a result of the new SEC cybersecurity disclosure ruling and resulting process changes.
- Emphasize the importance of an underlying strategic approach built on a foundation of tools to help standardize and capture processes across teams.
- Prioritize the right technology to increase confidence in their ability to comply with the new ruling.
Decode the New Cybersecurity Disclosure Ruling provides all the steps to empower your organization to conduct gap assessments, create a compliance strategy, identify the impact of cybersecurity incidents, demystify and define materiality, integrate disclosure processes, and transform your technology with the right tools.
