The Chartered Institute of Management Accountants (CIMA) has launched the latest version of its CGMA Cybersecurity Tool, designed to help finance professionals tackle the growing threat of cyberattacks through robust risk management, response, and remediation strategies.
As cyberattacks become more frequent, more sophisticated and costly – the average cost of a data breach is now a hefty $4.4 million according to IBM’s Cost of a Data Breach Report 2025: The AI Oversight Gap – the updated tool reflects the need for organisations and their finance teams to play a role in strengthening cyber resilience.
Featuring actionable steps to assess and respond to cybersecurity risk, it provides finance professionals with guidance on:
- How to protect sensitive data
- Influencing software investment decisions to prevent, detect and neutralise cyber threats
- Risk management and governance structures
- Incident response and recovery
- Evaluating cyber security insurance
Andrew Harding, FCMA, CGMA, Chief Executive of CIMA said: “Cybersecurity is a key conversation in the world’s boardrooms – it’s about building resilience, ensuring that businesses can stand up to the challenges and meet the opportunities of a digital-first world. It’s a competitive edge.
He added: “Finance professionals have a deep understanding of risk, compliance and reporting, and financial planning. They’re uniquely positioned to help their organisations build resilience against cyber threats. This latest edition of the tool equips them with insight and strategies to manage risks and respond effectively to incidents.”
