It goes without saying that 2020 has taken an unexpected turn for the worse due to Coronavirus disease (COVID-19). Businesses and individuals alike are now presented with all sorts of challenges that could not have been predicted just a few months ago.

COVID-19 first surfaced in Wuhan in the Hubei province of China in December 2019. It has since spread to over 160 countries across the globe, being...

Accountability goes to the very heart of organisational culture. Where appropriate consequences are not applied in respect of non-compliance and ethical misconduct, the organisational culture can be expected to further deteriorate and foster poor customer outcomes and risk events with the potential for significant reputational damage. There were many examples of this showcased in the hearings of t...

We have seen a number of clients and industry associates tendering their arrangements for Governance, Risk and Compliance (GRC) systems over recent years, and this trend seems set to continue well into 2020.

A number of institutions are looking to replace and uplift their existing GRC system solutions, while others are in the process of implementing a GRC system solution for the first time, having...

Non-financial risk is a topic that has garnered much attention throughout 2019 and it continues to gain momentum as we move into 2020. As some in the industry start referring to it under a new acronym (NFR), we are likely to see many variations of guidance emerge and new trends and improvements to non-financial risk reporting take shape. Regulatory developments across a number of different governm...

With conduct and culture at financial institutions remaining at the forefront of remediation work and regulatory involvement following the Royal Commission, it should come as no surprise that APRA is now seeking to strengthen requirements on remuneration. This blog post looks at five key impacts and objectives of the proposed prudential standard.