Public company audit committees continue to increase the level of their disclosures around cybersecurity in proxy statements, according to a yearly analysis.
The biggest increase in audit committee disclosures involved cybersecurity, according to the 2020 Audit Committee Transparency Barometer report published Monday, Oct. 12, by the Center for Audit Quality.
Almost four in 10 (39%) S&P 500 companies in 2020 made disclosures related to the audit committee’s responsibility for cybersecurity risk oversight, up from 34% the previous year and 11% in 2016. See more findings here.