HA NOI — The Institute of Chartered Accountants in England & Wales (ICAEW) has emphasised the need for businesses and organisations to improve their understanding of cybersecurity.
This should help businesses take better advantage of the opportunities brought by global IT trends while effectively managing their associated risks. The topic was raised at the ICAEW Thought Leadership Roadshow, which brought together IBM Vietnam, Ernst & Young (E&Y) Vietnam and the State of Audit.
Enabled by the enormous growth in computing power and storage in recent years, the world is now producing enormous amounts of data, characterised by high velocity and complexity. These days, the capability of businesses to capture and process entire data sets and even handle unstructured data has improved greatly. As more and more areas of business operations move online, many high-profile security breaches have occurred as a result of vulnerabilities in supply chains, opening up access to the systems of larger businesses. This can cause serious damage to their reputation, heavy costs for breaches and loss of their competitive edge.
“In this challenging environment, there is growing pressure for companies to better articulate their management of cyber risks, provide greater transparency on mitigating actions and strengthen lines of accountability,” said Kirstin Gillon, a technical manager with the ICAEW IT faculty at the roadshow in Ha Noi and HCM City this week. For the full article click here
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