Australia's top businesses delivering on cyber security

Release Date: 
20 April 2017
Media release

Minister Assisting the Prime Minister for Cyber Security Dan Tehan said Australia’s top businesses recognised the importance of cyber security.

The ASX 100 Cyber Health Check Report launched today was a key initiative of the Government’s Cyber Security Strategy, that marks its first anniversary on Friday.

The ASX 100 Cyber Health Check is the result of collaboration between the Australian Securities Exchange (ASX), the Australian Securities and Investments Commission (ASIC), the Department of the Prime Minister and Cabinet, and professional services firms Deloitte, EY, KPMG and PwC.

For the first time Australia’s biggest businesses by market capitalisation were asked how they approached cyber security.

Key findings from the ASX 100 Cyber Health Check were:

  • 80% of companies expect an increase in cyber net risk over the next year
  • 45% of companies were very confident in their organisation’s ability to detect, respond and manage a cyber intrusion
  • 66% of companies report appropriate levels of investment however plan to do more

Mr Tehan said the Health Check had been an important exercise in raising awareness and gathering crucial information about how big businesses approached cyber security.

“Our leading businesses have demonstrated the value of collaboration in enhancing Australia’s cyber security,” Mr Tehan said.

“More than two-thirds of directors in companies contributing to the report consider cyber security to be an important issue.

“Companies are taking cyber security seriously and they recognise the importance of continual improvement — if you are standing still on cyber security you are going backwards.

“The results of the ASX 100 Health Check will help inform the Government’s future cyber strategies and will serve as a benchmark for other businesses that are looking at their cyber security.”

The report can be viewed in www.asx.com.au