Corporate Governance: Analyzing Security Challenges and Best Practices for Cyber Resilience

Running head: CORPORATE GOVERNANCE
Corporate Governance
Name of the Student
Name of the University
Author Note

1CORPORATE GOVERNANCE
Table of Contents
Introduction................................................................................................................................2
Case Study Summary.................................................................................................................2
Critical analysis of the existing security system........................................................................3
Justification for integration of cyber security and resilience protocol.......................................4
Best practices for initiating the policy.......................................................................................6
Recommendations......................................................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

2CORPORATE GOVERNANCE
Introduction
In the current world scenario, it can be seen that individuals need to work within the
Information and Communication Technology environment. The use of ICT is prevalent
within the business organizations, which results in increasing the level of risks and difficulty
in handling the challenges. These challenges need to be handled properly with the help of
Critical Risk Management and Resilience. In the present business organizations, there is a
constant threat of breach of security with respect to the data that is being stored, which makes
it difficult in assessing the level of risks that are being faced with respect to the cyber
technology (Scully 2014). The companies that are listed under the Australian Stock Exchange
will face a higher level of risk, as it deals with the information of customers. These
information are financial in nature that also affect the operation of the business. The
compromise or breach in the data will harm the business operations and will result in
decrease in the level of trust that the customers have on the organization with respect to the
sharing of the financial information. The customers will be of the view that the financial
information are being leaked out by the attackers in the cyber world, which would prevent
them from sharing it with the organization (Smales 2014). Therefore, the report will be based
on discussing the security issues that is present within the companies that are present on the
Australian Stock Exchange. It will also provide a critical analysis as well as the best practices
for making a policy on resilience so that the changes can be done in a positive manner within
the organization.
Case Study Summary
The organization taken up within the case study is present on the Australian Stock
Exchange list, which suggests that there are many personal details of the customers present
within the company apart from the business data. An example of this would be that if a real

3CORPORATE GOVERNANCE
estate business is listed on the stock exchange, it would simply mean that apart from the
financial data, the company also has the personal and contact information of the client.
Therefore, there should be a presence of strict policy related to security so that it can result in
efficient operation of the business organization. The case study company being a consultant
needs to lookout for the breach in the level of security along with the policies and procedures
(He, W.P, Lepone 2014).
Therefore it can be said that the working of the organization is based on the security
system that is already present so that it can help in protecting the data of the clients as well as
its employees. It is also required by the consulting company to provide a better level of
critical analysis with respect to the cyber resilience that will be taken up newly so that there
can be an increase in the wellbeing of the company so that it does not lose out on its clients.
This is due to the fact that the changes and advances in the technology has led to the increase
in the hackers who are breaching in to the security of the organizations and stealing the
personal data of the clients and employees. Therefore the proposition of cyber resilience
needs to be given by a consultant so that the security system can be enhanced for the
organization (Elmaghraby and Losavio 2014).
Critical analysis of the existing security system
The organization mentioned in the case study is listed on the Australian Stock
Exchange and is among the leading 200 companies. Therefore it can be justified that the
company hires a good consultant to protect the data that is related to the customers and
employees. Moreover, the fact that managers of Enfield and Bose needs to approach the risks
cannot be neglected. The lack in handling the security system may result in some bigger
issues that may lead the company in to trouble. It has been seen that a breach in the security
had resulted in the loss of customer data from Equifax that amounted to a loss of 1.5 billion
AUD, as the data of the customer was hacked that included contact and other personal