Cybersecurity threats are evolving fast, and recent ransomware attacks have highlighted the need for organizations to move beyond traditional compliance standards like SOX. Many organizations rely on IT controls designed for financial reporting, but these miss crucial vulnerabilities like gaps in ransomware preparedness, third-party risks and real-time threat detection. To truly safeguard operations, reputation and regulatory standing, companies must look beyond the basics and embrace a broader approach to cyber resilience.

Now more than ever, it’s essential for leaders to understand the limits of financial-focused controls and take proactive steps. That means educating boards about hidden risks, bringing in independent experts to assess cybersecurity defenses and using internal audits to spotlight areas needing improvement. Prioritizing robust measures like multi-factor authentication and incident response plans can make all the difference. By aligning security efforts with trusted frameworks such as NIST, CIS or ISO 27001, organizations can build a unified strategy that stands up to today’s threats and tomorrow’s challenges. The key is not just awareness, but assurance, knowing that cyber risks are actively managed and shareholder value is protected.

Important Highlights:

• Financial reporting controls alone don’t cover all cyber risks.
• Independent, expert assessments provide true confidence in cyber defenses.
• Strong controls like MFA and ransomware readiness are critical.
• Using established frameworks helps create resilient, future-ready security programs.