Almost Half of Executives Expect a Rise in Cyber Events Targeting Accounting and Financial Data in Year Ahead
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Nearly half (48.8%) of C-suite and other executives expect the number and size of cyber events targeting their organizations’ accounting and financial data to increase in the year ahead according to a new Deloitte Center for Controllership poll. Yet just 20.3% of those polled say their organizations’ accounting and finance teams work closely and consistently with their peers in cybersecurity.
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Almost Half of Executives Expect a Rise in Cyber Events Targeting Accounting and Financial Data in Year Ahead
- 1. Cyber’s growing role within the finance organization to enable transformation Deloitte poll results Copyright © 2023 Deloitte Development LLC. All rights reserved.
- 2. Cyber’s growing role within the finance organization to enable transformation Copyright © 2023 Deloitte Development LLC. All rights reserved. 2 Methodology 1,100+ C-suite and other executives were polled online during a Deloitte webcast titled “Cyber’s growing role within the finance organization to enable transformation” on October 26, 2022. Answer rates differed by question. In some instances, immaterial amounts (e.g., +/- 0.1%) have been added to or removed from the “Don’t know/not applicable” answer responses to bring results to 100% total for each question.
- 3. Cyber’s growing role within the finance organization to enable transformation Copyright © 2023 Deloitte Development LLC. All rights reserved. 3 Votes received 2,376 During the past 12 months, did your organization experience any cyber events targeting its accounting and financial data? Don’t know / not applicable = 28.5% 22.0% 12.5% 37.0% Yes – at least one such event Yes – more than one such event No 34.5% organizations have experienced cyber events targeting accounting and financial data in the past 12 months
- 4. Cyber’s growing role within the finance organization to enable transformation Copyright © 2023 Deloitte Development LLC. All rights reserved. 4 Votes received 2,325 During the next 12 months, do you expect a change in the number and size of cyber events targeting your organization's accounting and financial data? Don’t know / not applicable = 26.0% 48.8% 22.3% 2.9% Yes, increase No change Yes, decrease
- 5. Cyber’s growing role within the finance organization to enable transformation Copyright © 2023 Deloitte Development LLC. All rights reserved. 5 Votes received 2,301 Which best describes how your organization's cyber and accounting/finance functions work together? Don’t know / not applicable = 25.9% Tightly aligned – cyber and accounting/finance teams work together closely and consistently Somewhat aligned – cyber and accounting/finance teams work together as needed with inconsistent closeness and consistency Not aligned – cyber and accounting/finance teams do not work together at all 20.3% 42.7% 11.1%
- 6. Cyber’s growing role within the finance organization to enable transformation Copyright © 2023 Deloitte Development LLC. All rights reserved. 6 Votes received 1,841 During the next 12 months, do you expect a change in how closely your organization's cyber and accounting/finance functions work together? Don’t know / not applicable = 28.0% 39.5% 29.5% 3.0% Yes, increase No change Yes, decrease
- 7. Cyber’s growing role within the finance organization to enable transformation Copyright © 2023 Deloitte Development LLC. All rights reserved. 7 Votes received 1,116 Does your organization have a process in place to quantify the financial impact of potential cyber incidents (e.g., cyber risk quantification)? Don’t know / not applicable = 37.5% Yes, we have a process in place No, but we plan to have a process in place within the next 12 months No, and we have no plan to put such a process in place 25.5% 17.1% 19.9%
- 8. Cyber’s growing role within the finance organization to enable transformation Copyright © 2023 Deloitte Development LLC. All rights reserved. 8 Media Contacts Taylor Graham Public Relations Deloitte Services LP tagraham@deloitte.com Christine Oh Public Relations Deloitte Services LP chrisoh@deloitte.com
- 9. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms. Copyright © 2023 Deloitte Development LLC. All rights reserved. The statements in this report reflect the aggregation of poll responses and are not intended to reflect facts or opinions of any entities. All data, charts and statistics referenced and presented, as well as the representations made and opinions expressed, unless specifically described otherwise, pertain only to the participants and their responses to the Deloitte poll. The information obtained during the poll was taken “as is” and was not validated or confirmed by Deloitte. This presentation contains general information only and Deloitte is not, by means of this presentation, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This presentation is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this presentation.