Turning to the risks posed by social media, 55 per cent of Australian respondents indicated that they were implementing policy adjustments, while 48 per cent had introduced security and social media awareness programs. In addition 44 per cent planned to limit access to sites such as Twitter and Facebook.

Trovato added that 11 per cent of respondents were presenting information security topics at each board meeting while 40 per cent were presenting topics every quarter. However, only 49 per cent stated that their information security strategy was meeting the needs of the company.

"It's time that security was elevated to the board room with a defined strategy that will support the business in the Cloud and elsewhere," he said.

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