A data breach is more damaging to an organisation than the departure of its chief executive, a profit warning or a product recall, according to a new survey of senior Irish IT leaders. The research shows that 67 per cent of respondents believe companies should highlight data security and management capabilities in financial statements as they would key figures such as revenue and net profit.
conducted by Amárach on behalf of BT Ireland, also reveals that 62 per cent of Irish IT leaders think a company’s data management capabilities will soon be considered as important to investors as profits and assets are.
According to IT leaders, shareholders will soon come to expect detailed information on how data is captured, managed, used, and most importantly, protected. With concerns over data breaches growing, IT leaders surveyed said they believed a data breach to be the single worst event that could happen to a company, rating it four times more damaging than the unexpected departure of a chief executive and twice as bad as a profit warning, product recall or major service outage.