The debate continues in part 2 of our series, The Risk Oversight Challenge: Who Should Own Cyber Risk? In this episode, Host TK Kerstetter, Cindy Fornelli (Executive Director, Center for Audit Quality) and Jonathan Foster (Audit Chair, Masonite International Corp.) continue the discussion surrounding risk management and what committee, if any, should own risk oversight — or whether boards should consider forming a dedicated risk committee.
Impassioned panelists examine the concept of a “risk champion.” While all agree a champion is important, the experts divide on where that champion comes from and who it is.
Prompted by a need to focus on cyber risk as a growing part of risk oversight, the case is made to wisely consider a myriad of options. Audit committees have little room in their agendas to deal with such concerns, both currently and as they continue to escalate in the future.