In today’s highly complex business landscape, enterprises are ever more aware of the need for robust governance, risk management, and compliance (GRC) capabilities. Hence the demand for effective GRC platforms has never been higher. These platforms not only assure that organizations stay on the right side of regulations. They also secure your business against a plethora of cyber threats and streamline governance processes.

In July 2023, the SEC adopted a new rule requiring disclosure of “material” cybersecurity incidents and detailed information on cybersecurity risk management, strategy and governance by public companies. With the new rule taking effect in December and annual reports due for public release and consumption in the first few months 2024, companies are scrambling to closely review and hone their cyber programs to address these new reporting requirements.

Cybersecurity has become a critical part of corporate governance, with board members increasingly held accountable for the digital safety of their organizations. Amid rising breach costs, new cybersecurity regulations like those from the U.S. Securities and Exchange Commission (SEC), and new studies finding widespread cybersecurity failures, the impact of board-level cyber governance decisions is significant.

In the rapidly evolving landscape of artificial intelligence (AI), governance, risk, and compliance (GRC) professionals somehow need to navigate the increasingly complex challenges of trustworthy development, deployment, and monitoring of AI systems.

When it comes to cybersecurity governance, 2023 stood out as one of the most eventful in a very long time. With everything from the enactment of stronger new cybersecurity regulations around incident disclosure from the Securities and Exchange Commission (SEC) to significant changes afoot for financial and cloud services providers operating within the European Union, many companies worldwide will be called to adjust to a new normal in 2024.

Public sector organizations are responsible for maintaining trust and storing sensitive data. Unfortunately, they have become a popular target for cyber threats, ranging from data breaches to advanced nation-state attacks. To address this evolving cyber risk landscape, it is essential to take a proactive approach to cybersecurity. This will help safeguard critical infrastructure and protect the privacy of citizen data.

As the importance of data continues to grow, and the amount of data being processed by organizations grows further, many organizations are beginning to feel the constraints and demands of compliance. Therefore this makes data governance paramount to guarantee the security, accuracy, availability, and usability of your data. Data governance encapsulates the approach to managing data during its lifecycle, from acquisition, to use, to disposal.

In today’s rapidly evolving business landscape, organizations face an ever-increasing array of risks and compliance challenges. As businesses strive to adapt to the digital age, it has become imperative to enhance their Governance, Risk Management, and compliance (GRC) strategies. Fortunately, the fusion of artificial intelligence (AI) and GRC practices presents a transformative opportunity.

Last week, I had the opportunity to moderate a panel at the NACD Summit, where I was joined by: Deven Sharma, Former President at S&P; John Katko, Former Member of U.S. House of Representatives; and Aaron Hughes, CISO at Albertsons. The National Association of Corporate Directors (NACD) holds its summit annually to empower directors and transform boards to be future ready. Our panel discussion focused on how board members can strategically oversee their organizations’ cybersecurity resilience.

In the first part of this blog series, we explored the foundational steps required to kickstart a robust security program for any organization’s low-code/no-code development environment within Microsoft Power Platform. We discussed the importance of differentiating between sensitive and non-sensitive data, identifying the makers and builders, and implementing the principle of least privilege access.