Edward Snowden’s revelations concerning the diligent collection of data by secret services – mainly the American NSA – have not only surprised, but also alarmed the public. It is clear that these actions do not merely aim to fight terrorism and crime. According to Elmar Theveßen, deputy editor-in-chief of the German television channel ZDF, industrial and economic espionage, despite the secret services’ denials, is one of the latter’s main activities. In this context, high priority should be given to establishing a modern IT security strategy which protects companies against attacks from outside. Matthias Bossardt and Roman Haltinner explain on which elements such a strategy should be based.
The question of the «1:12» initiative has been settled. The focus should now be on implementing the Minder initiative. The Federal Council has just published the final ordinance on this subject (VegüV), which will enter into force on 1 January 2014. A first analysis by Jörg Kilchmann shows that major concerns which were expressed during the consultation process have been taken into account. A number of important decisions should now be made in view of the next general assembly.
Our 2013 annual event took place on 15 November in Lausanne and on 4 December in Zürich. On that occasion, we discussed the Minder initiative and the new accounting law, but also the IASB’s strategy and agenda. We present the main findings of this event and hope that you have prepared yourselves appropriately in order to meet tomorrow’s challenges.
I hope this newsletter provides some interesting and insightful reading.
Merry Christmas and Happy New Year!
Head of KPMG’s Audit Committee Institute