The World Bank reveals that as of 2017, 98.9% of Australian adults had at least one bank account – one of the highest rates in the world.
On top of that, Australia’s banking sector is highly regulated – and could become even more so post Royal Commission into Misconduct in the Superannuation, Banking and Financial Services industry.
We have a significant and growing presence in the banking sector. While most consumers are familiar with the Big 4 banks, we primarily work with mid-sized banks on strengthening their presence in the marketplace and ensuring good governance.
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The Banking Executive Accountability Regime (BEAR) set out in Part IIAA of the Banking Act 1959, was introduced in February 2018 and commenced on 1 July 2018 for large authorised deposit-taking institutions (ADIs) and is due to commence on 1 July 2019 for medium and small ADIs. The regime establishes accountability obligations for ADIs and their senior executives and directors. It also establishes deferred remuneration, key personnel and notification obligations for ADIs.
Strong links to industry
We’ve been hosting our annual Bankers’ Boot Camp for 18 years. Travelling from Brisbane, Sydney, Melbourne and Perth – we help unpack market trends, regulatory and legislative changes impacting the corporate lending environment. Each year we host over 500 bankers who reveal to us what sectors hold the most potential for investment in the coming years.