Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Sep. 30, 2024 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] |
Risk Management and Strategy
We rely on our information technology professionals at the subsidiary level to continuously monitor and update our information technology networks and infrastructure to prevent, detect, address, and mitigate risks associated with unauthorized access, misuse, computer viruses and other events that could have a security impact. We invest in industry-standard security technologies to protect the Company’s and each subsidiary's data and business processes against cyber risks. To enhance our cybersecurity efforts and awareness, we have established an "IT Steering Committee,” comprised of a team of information technology professionals from our subsidiaries, who will convene on a quarterly basis to discuss topics including cybersecurity threats, emerging attack methods, and best practices.
In fiscal year 2024, the Company engaged a consultant to conduct a cybersecurity risk assessment of our business operations at Live Ventures and each of our subsidiaries. This assessment evaluated both internal and external threats to operations and information handling. The output of this assessment offered a structured approach to understanding, assessing, and prioritizing our cybersecurity efforts. In collaboration with the Audit Committee, management will prioritize and implement appropriate measures.
As part of our cybersecurity risk management program, we will work with our subsidiaries to develop a cyber training curriculum for their employees. While some have already implemented their programs, others are in the developmental phase. This training may encompass topics such as phishing, cybersecurity awareness, and email security best practices. While we are dedicated to cybersecurity, it is not possible to fully mitigate all technology risks. We are currently unaware of any cybersecurity incidents that have, or are reasonably likely to have, a material impact on our business or operations. However, the ever-evolving nature of attack techniques, along with the increased volume and sophistication of these attacks, means that cybersecurity threats - including data breaches, ransomware, and similar threats - could materially impact our future results. Such impacts could include reputational, competitive, operational, or other business harm, as well as financial costs and regulatory action.
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| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] |
We rely on our information technology professionals at the subsidiary level to continuously monitor and update our information technology networks and infrastructure to prevent, detect, address, and mitigate risks associated with unauthorized access, misuse, computer viruses and other events that could have a security impact. We invest in industry-standard security technologies to protect the Company’s and each subsidiary's data and business processes against cyber risks. To enhance our cybersecurity efforts and awareness, we have established an "IT Steering Committee,” comprised of a team of information technology professionals from our subsidiaries, who will convene on a quarterly basis to discuss topics including cybersecurity threats, emerging attack methods, and best practices.
As part of our cybersecurity risk management program, we will work with our subsidiaries to develop a cyber training curriculum for their employees. While some have already implemented their programs, others are in the developmental phase. This training may encompass topics such as phishing, cybersecurity awareness, and email security best practices.
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| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] |
Management and Board Oversight
In the ordinary course of our business, we collect, use, store, and digitally transmit confidential, sensitive, proprietary, and personal information. The secure maintenance of this information and our information technology systems are important to our operations and business strategy. The Audit Committee, which is composed solely of independent directors, has been designated by our Board to review and discuss with management the Company's risk assessment and risk management policies, including the steps that management has taken to monitor and control related cybersecurity risks and exposures. Management updates the Audit Committee and the Board as necessary about significant cybersecurity occurrences and measures the Company is taking to prevent the same.
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| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Audit Committee, which is composed solely of independent directors, has been designated by our Board to review and discuss with management the Company's risk assessment and risk management policies, including the steps that management has taken to monitor and control related cybersecurity risks and exposures. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | Management updates the Audit Committee and the Board as necessary about significant cybersecurity occurrences and measures the Company is taking to prevent the same. |
| Cybersecurity Risk Role of Management [Text Block] | To enhance our cybersecurity efforts and awareness, we have established an "IT Steering Committee,” comprised of a team of information technology professionals from our subsidiaries, who will convene on a quarterly basis to discuss topics including cybersecurity threats, emerging attack methods, and best practices. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | To enhance our cybersecurity efforts and awareness, we have established an "IT Steering Committee,” comprised of a team of information technology professionals from our subsidiaries, who will convene on a quarterly basis to discuss topics including cybersecurity threats, emerging attack methods, and best practices. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | To enhance our cybersecurity efforts and awareness, we have established an "IT Steering Committee,” comprised of a team of information technology professionals from our subsidiaries, who will convene on a quarterly basis to discuss topics including cybersecurity threats, emerging attack methods, and best practices. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] |
As part of our cybersecurity risk management program, we will work with our subsidiaries to develop a cyber training curriculum for their employees. While some have already implemented their programs, others are in the developmental phase. This training may encompass topics such as phishing, cybersecurity awareness, and email security best practices.
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| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |