Cybersecurity has become a top-of-mind concern for many C-level executives and board members. Data breaches are a daily occurrence and carry a hefty — and growing — price tag averaging $4.35 million worldwide, according to the latest Cost of a Data Breach report. However, this is only one of several potential cybersecurity risks that an organization can face.

Against the backdrop of the growing frequency and severity of cyber attacks against enterprises, proposed new regulations from The Securities and Exchange Commission (SEC) are set to require publicly traded companies in the U.S. to analyze how cyber risk could affect financial statements. ‍