Report Reveals Cybersecurity Training Gap Among Businesses

January 19, 2024by TNTMAX

A recent report by Accenture has shed light on a troubling reality: CEOs lack confidence in their organizations’ ability to protect against cyber threats, despite acknowledging the paramount importance of cybersecurity for business growth. 

This concern extends to the boardroom, where a staggering 60% of board members have not received sufficient cyber resilience training in the past year, according to research conducted by Bob Semple, Board Intelligence, and The Corporate Governance Institute. The study reveals a critical gap in cybersecurity knowledge at the highest levels of decision-making. 

David W Duffy, CEO of the Corporate Governance Institute, emphasizes the growing significance of cyber resilience in all sectors and the potential consequences of inadequate training. In an article published by Technology Magazine, he points out that cybercrime can have severe consequences, including financial instability, damage to brand identity, and legal repercussions.

“Considering the extensive repercussions, it is evident that each board must tackle cyber risks; this subject is an essential aspect of effective corporate governance,” he said. “According to our survey, the significance of cyber resilience is growing considerably in all sectors, but it is worrying that 60% of board members have not received sufficient cyber resilience training in the past year.”

The research findings also highlighted a concerning trend in the adoption of technology within boardrooms. While technology usage has accelerated post-COVID, 82% of directors believe they could be making better use of technology to enhance board performance. Notably, almost 40% of boards are yet to implement a secure board portal, and a quarter of directors express dissatisfaction with their board’s utilization of audio and video communication technologies. To address these challenges, Duffy advocates for proactive measures to safeguard systems. 

“All boards must take necessary precautions to safeguard their systems,” he said. “Regular training and awareness programs should be conducted to educate board members about potential risks and ensure proper policies and procedures are in place in case of a breach. These policies and procedures should be reviewed and updated regularly. Ultimately, board members must be responsible and answerable for any security breaches.”

At TNTMAX, we know just how important cybersecurity awareness is at every level of an organization. We train our employees, subcontractors, and our clients to develop cybersecurity awareness intelligence so they can be the best defense against cybercrime. 

We offer comprehensive cybersecurity awareness training for management and employees. Call us at (201) 891-8686 or email [email protected] to learn more or to set up a presentation!