A collaboration between the Australian Institute of Company Directors (AICD), the Cyber Security Cooperative Research Centre (CSCRC) and leading corporate law firm Ashurst, has resulted in guidance to support directors prepare for and respond to serious cyber incidents.
The guidance, Governing Through a Cyber Crisis: Cyber Incident Response and Recovery for Australian Directors, is based around the ‘four Rs’ – readiness, response, recovery, and remediation – and covers ‘the most vexing issues directors will face in a cyber crisis, from the development of a cyber incident readiness plan, execution of an effective crisis communications strategy, whether or not to make a ransom payment and the road to rebuilding reputation’.
The guidance has been informed by engagement with senior directors who have governed through significant cyber crises and builds on the 2022 AICD/CSCRC Cyber Security Governance Principles.
