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September 19, 2011updated 29 Apr 2022 12:32pm

PwC urges CEOs to be ‘cyber savvy’

A PwC white paper has urged chief executives to take a more proactive role in tackling cyber security threats given an increased risk environment worldwide.

The report, The Cyber Savvy CEO – Delusions of safety?, said private and public sector leaders need to spearhead efforts to protect their organisations.

PwC UK information security practice director William Beer told International Accounting Bulletin cyber attacks are traditionally pigeon-holed as an IT problem but urges business leaders to challenge their information security teams to provide them with more cover.

In collaboration with the report, PwC published The Global State of Security Survey, which polled 9,600 respondents from 138 countries.

Almost three quarters of Asian respondents (74%), more than two-thirds (69%) of European respondents and just under half of North American respondents (45%) said the increased risk environment has boosted the importance of their company’s security function. Despite this, only 35% of UK respondents said they plan to spend more on information security over the next year, compared to the global figure of 51%.

“Confidence in the cyber environment can be misleading and many organisations have delusions of safety. Operating securely in the cyber environment is among the most urgent issues facing organisations today and the time has now come for them to get involved,” Beer said.

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