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Sherwood SD 88J says cyber insurance and underwriting help strengthen controls; district pays about $30,000 a year
Summary
The committee heard that auditors do not test cybersecurity controls as part of a financial audit; the district relies on cyber insurance (PACE and an additional policy) and pays roughly $30,000 annually for coverage and engineering support.
A committee member asked whether auditors validate cybersecurity controls as part of the financial audit. Tara Camp said auditors gain an understanding of systems but do not perform cybersecurity testing as part of the financial statement audit. She noted cybersecurity testing is increasingly important, but that the scope of the financial audit does not include thorough penetration or control testing.
District staff said Sherwood carries cyber insurance through PACE and purchases an additional policy to obtain both liability coverage and underwriting‑driven technical guidance. “We spend about $30,000 a year on that policy,” a staff member said, and the committee acknowledged that the underwriting process itself often forces beneficial improvements in training and controls.
