Cybersecurity Is Now a Boardroom Issue: What Directors Need to Know

As part of a landmark shift in Australia’s approach to cyber governance, the Cyber Security Act 2024 has introduced clear legal obligations for company directors to ensure their organisations are adequately protected against cyber threats.

This isn’t just a shift in compliance, it’s a signal that cybersecurity is now squarely a board-level responsibility. The reforms are part of a broader national effort to strengthen Australia’s cyber resilience in response to the growing frequency and impact of cyber incidents. 

So, what does this mean for your organisation, and your board? 

What’s Changed?   

Under the Cyber Security Act 2024, directors are expected to:

- Actively oversee cyber risk management (not just delegate it to IT)

- Ensure appropriate security measures are in place

- Regularly review and update incident response plans

- Report cyber extortion payments within 72 hours (for companies over $3 million turnover) 

Failure to meet these obligations can result in personal liability - including civil penalties or even disqualification. This elevates cybersecurity to the same level of fiduciary responsibility as financial oversight and workplace safety. 

Why This Matters   

Cyber risk is no longer just a technical issue - it’s a core governance priority. Regardless of size or industry, all organisations are now expected to:

- Strengthen their cybersecurity posture

- Engage boards in cyber risk decision-making

- Develop, test and maintain robust incident response plans

- Implement regular reporting mechanisms to the board 

These expectations are now enforceable through the Cyber Security Act 2024.

At Canary IT, we understand that not every director or business leader has a technical background. That’s why we bridge the gap between complex cyber requirements and actionable business strategy. 

We offer: 

🟡 Cybersecurity assessments and risk reviews aligned to your industry 

🟡 Board-ready briefings and plain-language governance support 

🟡 Incident response planning, simulations and recovery guidance 

🟡 Ongoing compliance monitoring to ensure directors meet legal obligations 

We work with you to make cyber risk manageable, visible, and integrated into your organisational governance - so you can focus on growth, knowing your foundations are protected. 

Contact us today   

Whether you’d like a casual chat, to book your board a tailored cyber briefing, or need support in meeting these new requirements, get in touch with our team. We’ll help you take proactive steps to protect your organisation - and meet your obligations with confidence. 

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