With recent high-profile compliance risk failures making headlines, businesses having to pay record fines, board chairs and CEOs being forced to resign, and reputations being damaged, resulting in reduced trust from customers and the community, Boards and Management are now very conscience on ensuring strong oversight controls over legislative requirements. JNW is seeing clients evolve their compliance frameworks, adding additional resources and strengthening their oversight and reporting regimes. If things go wrong, it is critical to be able to demonstrate your compliance practices.
APRA’s recently newsletter provides advice of what it would consider appropriate compliance risk management. If you need assistance or assurance with your compliance framework, please do not hesitate to contact Jeff at jeffwebb@jnw.au
How to manage compliance risk and stay out of the headlines _ APRA 2-22
