In a recent government meeting, officials discussed the increasing demand for cybersecurity audits amid heightened scrutiny from bond rating agencies. The conversation highlighted a noticeable uptick in requests for these specialized audits, which are offered free of charge to local governments.

One official noted that the state's cybersecurity team has expanded significantly over the past few years, growing from just a couple of auditors to a team of 10 to 15 members. This growth is attributed to both an increase in requests and the need to address rising cybersecurity threats faced by smaller entities that often lack regular financial audits.

The discussion also touched on the involvement of Standard & Poor's (S&P) and other bond rating agencies, which are now placing greater emphasis on cybersecurity in their evaluations. This shift reflects a broader concern about the financial stability of municipalities in light of potential cybersecurity risks. Officials acknowledged that while the waitlist for cybersecurity audits had previously been as long as two years, the current status remains unclear due to the growing demand.

Participants in the meeting emphasized the importance of these audits not only for compliance with bond reporting deadlines but also as a means to benchmark cybersecurity practices against other cities. The conversation concluded with a recommendation for entities to get on the audit waitlist, even if immediate assistance is not available, to ensure they are prepared for future evaluations.

Overall, the meeting underscored the critical intersection of cybersecurity and financial oversight, as local governments navigate an increasingly complex landscape of risks and regulatory expectations.