Boards should be clear on how their organisation’s data and IT infrastructure is being protected against a ransomware attack.
The Sophos State of Ransomware 2021 report, an independent survey of 5,400 IT managers in mid-sized companies in 30 countries, has revealed that 37% of organisations have experienced a ransomware attack over the past 12 months, down from 51% in 2020. In addition, fewer businesses have suffered data encryption as the result of an attack, dropping from 73% in 2020, to 54% in 2021.
However, this positive reduction doesn’t tell the full story. The average financial impact of a ransomware attack over the same period has more than doubled, from $761,106 in 2020, to $1.85m in 2021. The most likely reason behind this is that attackers are launch
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UK prime minister Theresa May has criticised the decision to remove Uber's licence to trade in London for corporate responsibility reasons, while on the same day calling for the highest standards of governance.
The Financial Reporting Council survey reveals that audit is improving. But there remain key concerns over Big Four dominance of the market and the ability of smaller firms to keep up with the pace of technological change.
The UK’s Financial Reporting Council has published proposals for a streamlined governance code, while research from Mazars, in association with ecoDa, finds compliance with the existing framework to be variable.
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