Cyber security was rated amongst the top three risks by the corporates surveyed. Regulatory risk and technology disruption were the two other risks identified by the survey’s respondents.
“The new data privacy laws place the onus on companies to prevent any leaks. This makes cyber security even more relevant”, Deloitte’s president of risk advisory, Rohit Mahajan said.
The survey also noted that involvement of board level executives in risk management was on the rise.
“Board members are actively investing time to monitor risk management as the companies act places more accountability on them by making them personally liable for any mishaps”, Mahajan told ET.
61 per cent of the respondents to the survey, that includes Nifty 50 companies, had executives in a chief risk officer role who in many cases reported to the company’s boards, Deloitte found.
The survey…
