In this, the second in our series of posts on the duties of
Canadian directors and officers, Vanessa Coiteux and Tania Djerrahian discuss some
of the key issues that directors need to focus on in the rapidly
developing area of cybersecurity. The article considers some of the
cybersecurity concerns expressed by securities regulators and proxy
firms as well as some of the considerations that should go into an
effective cybersecurity strategy.
Most companies today depend on networks, computers and the
Internet to help manage their business. While digital technology
has many benefits, it also has the disadvantage of exposing
companies to cybersecurity breaches. Historically, many viewed the
risks associated with cybersecurity as risks to be entirely managed
by a company's information technology (IT) department. However,
given the number of companies in various industries that have
experienced cyber-attacks in recent years, and the serious
consequences of many of those
