Disclosing Details of Cyber Incidents
One way that corporate financial reporting teams can put Calcbench to good use (one of many ways, of course) is to use our databases to research the disclosures that other companies are making about various issues; to give you a better sense of how you might structure your own disclosures. We’ve explored this idea before, looking at: Disclosure of risks related to artificial intelligence ; Discussion of cash from operating activities ; Presentation of restricted cash . Today let’s look at another common headache for issues: disclosure of cybersecurity incidents. This is a fairly new requirement, driven by SEC rules adopted last year requiring issuers to disclose “material cybersecurity incidents” as 8-K filings within four days of deciding that the incident you just suffered is indeed material. Specifically, companies file the 8-K as Item 1.05 — and you can indeed find those disclosures via Calcbench. You can either track individual companies and be alerted when they submit ...