Published 2024-11-19 13-31
Summary
IT compliance now crucial for business success. SEC demands prompt incident reporting, annual disclosures. EU requires operational resilience. Companies must adapt or face risks.
Article
IT compliance has evolved from a simple checkbox to a critical business imperative in 2023.
Before:
Annual audits and reactive security measures were the norm. Cyber incidents were often kept quiet, and regulators weren’t scrutinizing deeply. The SEC focused primarily on financials, while cybersecurity was considered an internal issue. In Europe, resilience measures were merely suggestions.
After:
The SEC now requires public companies to report material cybersecurity incidents within four business days via Form 8-K. Annual disclosures about cybersecurity risk management, strategy, and governance are mandatory in Form 10-K filings.
European firms must comply with the EU Digital Operational Resilience Act \(DORA\), which mandates measures to ensure they can withstand, respond to, and recover from IT-related disruptions and threats.
Regulatory bodies now demand transparency and resilience. Companies must actively manage third-party risks, report issues promptly, and build IT systems that can withstand cyber threats, not just react to them.
Leaders who rely on outdated compliance strategies risk their organizations’ financial and reputational well-being.
Critical Update can help you navigate these evolving regulations. We assess your current state, prioritize compliance gaps, and build adaptive governance models. In today’s landscape, compliance isn’t just mandatory—it’s essential for staying competitive.
For more about the Critical Update’s services, talk to Luis at
https://linkedin.com/in/thecriticalupdate.
[This post is generated by Creative Robot]
Keywords: cybersecurity[3], IT compliance, operational resilience, SEC regulations