Corporate Information Technology Governance Under Fire

Abstract

It has become apparent that newly-disclosed attacks on Information Technology infrastructure have reached crisis proportions. Therefore, a focus on IT governance must be a major priority of management and every corporate board. Issues involving Information Technology are uniquely complex and involve engineering skills that quickly become obsolete in this era of rapid technological change. Here, suggestions are offered about the value of a Chief Information Security Officer and recommendations are made for improving cybersecurity. An examination of recent threats will hopefully assist in bringing a greater understanding of their nature and increased focus on IT governance to the agenda in every boardroom.

Keywords: Accounting, Audit Committee, Board Structure, Corporate Governance, Cyberattack, Cyberwar, Data Breach, Directors, Information Technology, Internal Audit, Internal Controls, International law, Litigation, National Security, Organizational Behavior, Risk Management, Sarbanes-Oxley, SEC, Strategy

JEL Classification: C88, G18, G34, G38, H56, K22, K33, K42, L21, L86, L98, M10, N40, O30, O31, O32, O33, O34, O38