More cyberattacks aimed at financial and accounting data are being expected by 49% of more than 1,100 C-suite executives in the next 12 months, with 34% of the respondents noting that such data has been targeted by one or more cyberattacks during the past year, TechRepublic reports.
Only 25% said that their organizations have already implemented processes to determine such cyberattacks' financial toll, while 17% noted having plans to do so within the next year, a report from the Deloitte Center for Controllership showed. Researchers also found that only 20% reported close and consistent collaboration between cybersecurity and finance groups within their organizations.
"While there may not have been much need for accounting, finance, and cyber teams to work closely in the past, recent years have shown thats no longer the case. We strongly recommend that these teams try to learn each others languages and tighten their working relationships across silos," said Deloitte Risk and Financial Advisory Finance Transformation Principal Temano Shurland.