CFOs Start To Focus on Cybersecurity

CFOs and Audit Committees to Collaborate on Cybersecurity

CFOs, especially in the healthcare industry, are now shifting their focus towards cybersecurity in light of covid-19 and fully remote workers. KPMG recently conducted a survey that found that there is some conflict between the focus of CFOs and audit committees who both serve an important role when identifying the risks and managing the threats of cyberattacks. This past year has been extremely stressful for these teams as they have had to manage cloud migrations and digital corporate transformations. These changes have placed a greater emphasis on cybersecurity and IT experts have now been joining these committees to mitigate the risks. While CFOs and other committees have collaborated on cybersecurity, outside of that they have very different goals and focuses. Although both roles can seem very different, they can use these differences as a strength by identifying and managing all of the gaps in their system. If CFOs and audit committees focus on filling certain gaps and communicating how to carry out their plans, their cybersecurity strategies will be more successful. 

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