Our latest insights

While COVID-19 presented a challenge to companies that few could have anticipated, it also acted as a catalyst. Companies were forced to review legacy structures to allow for more agile decision making, and to test their purpose and role in wider society. This report provides salient insights for Boards in Australia, as despite having a different Code in place that we report against, the key themes resonate with what we’re seeing here – purpose, culture, emerging risk management, stakeholder engagement, board effectiveness, remuneration, ESG, diversity and succession planning. It is also a strong indicator of what companies should be focusing on in the coming year.

Appropriate culture, governance systems and remuneration structures are critical to rebuilding trust in financial institutions and ensuring a resilient financial system. APRA, as the prudential regulator, plays a significant role in this through introducing new standards and its oversight regime.

The first bank in Australia, Bank of New South Wales, was established more than 200 years ago in 1817.

Our Virtual ADI Conference covers a variety of hot topics for ADI’s, particularly coming up to the end of financial year reporting period.

Grant Thornton’s Corporate Finance and Financial Services team held a practical webinar this week to address how FinTechs can navigate the current environment.

All organisations are grappling with the myriad of employee agreements and obligations that result in a wide variety of payments to their people.

The Australian Prudential Regulation Authority (APRA) recently published its plans to significantly scale up its efforts to raise the standards of governance, culture, remuneration and accountability (GCRA) across financial institutions.

Corporate governance has been a hot topic of discussion in Australia for many years – spearheaded by Royal Commissions, drilled home by corporate law changes to charge company directors with more responsibilities, and demanded by consumers and shareholders holding companies to a higher standard of behaviour and transparency.

Last month, the Government released its implementation roadmap accepting all 76 of the Royal Commission’s recommendations plus committing to an additional 18 actions.

Founded in 1966, Teachers Mutual Bank Limited is one of the largest mutual banks in Australia, with over 198,000 members and assets of over $7 billion.

Many of us that work in the sector talk about the post-Royal Commission world. It’s a pivotal moment that has shaken Australia’s trust and confidence in our financial services sector.

On 25 March 2019, APRA proposed updating its prudential standard on credit risk with an update to APS 220 Credit Risk Management to capture the full credit life cycle.