There is a danger in introducing additional regulation
Executive Summary
The AICD strongly supports Government and industry working together to ensure that Australia is a world leader in cyber security with citizens having confidence that our economy operates within a secure and trusted digital environment. A Government- industry partnership should focus on enhancing cyber resilience across the Australian economy with any new regulations being risk-based and developed with a strong appreciation of the potential compliance costs and impacts on innovation. There is a danger that introducing additional regulation, including at the board level, will result in a culture that prioritises being cyber compliant rather than cyber resilient.
