Our latest insights

Embed ESG risks into strategy and culture to drive sustainability beyond compliance.

While APRA has acknowledged the achievements of member-owned and not-for-profit funds to-date, it also noted Boards must do more to ensure long-term sustainability of their organisations.

In this episode, Risk Consulting Partners and AML/CTF experts Neil Jeans and Katherine Shamai discuss the implications of the new AML/CTF Amendment Act, AUSTRAC’s expanded authority to investigate organisations, and the important questions Board should be asking management teams when it comes to the new reforms.

In the latest episode of Beyond the Numbers with Grant Thornton, our Brisbane Office Chair and Tax Partner Sian Sinclair and Risk Consulting Partner Jarrod Lean discuss opportunities, challenges, procurement risks and strategies.

Recent action from the Payment Times Reporting Regulator – the first such action since the PTR Act commenced three years ago – has highlighted the importance for organisations to ensure that they are compliant with reporting obligations.

Local councils play a pivotal role in the governance and development of communities and are responsible for a myriad of services and decisions that directly impact the daily lives of residents.

In this episode of Navigating the New Normal, Katherine Shamai, Partner in the Risk Consulting team unpacks what modern slavery is and what businesses are required to report in Australia.

The Financial Accountability Regime (FAR) Bill 2023 marks a pivotal transformation in financial sector oversight, affecting all APRA regulated financial entities in the banking, insurance and superannuation industries as well as their significant related entities. Jointly administered by ASIC and APRA, the FAR will replace the Banking Executive Accountability Regime (BEAR), aiming to improve risk and governance cultures by imposing a strengthened responsibility and accountability framework for those financial institutions.

CFOs have a pivotal role in preventing and mitigating fraud risks within organisations. They should establish a strong governance framework promoting ethical behaviour, transparency, and accountability. Collaborating with technology leaders, CFOs can implement anti-fraud technology, stress-testing measures, and anti-money laundering controls. Maintaining an ethical culture through awareness, education, and reporting mechanisms is crucial.

APRA-regulated businesses operating in the banking, insurance, and superannuation industries will soon be faced with significant regulatory changes. APRA and the ASIC have commenced early consultation around the introduction of the Financial Accountability Regime, which aims to establish a strong accountability framework to enhance risk management and governance practices in the financial sector.

With environmental, social and corporate governance (ESG) and sustainability front of mind for all organisations and reporting requirements on the horizon, it’s important to understand what tax obligations are at play. As the ATO focuses on transparency and governance, it’s important to ensure tax obligations are appropriately incorporated in policies, frameworks, controls, and these are tested to ensure that the business is operating in line with the Group’s tax risk appetite.

We recently sat down with NSW Club leaders to discuss Environmental, Social, and Governance (ESG) considerations on the Club industry in the short to medium term. The International Sustainability Standards Board (ISSB) has now released their standard on Sustainability, and Treasury has sent a draft policy on how the standards will be adopted in Australia. Although there is no set guidance at this stage, it is most likely Clubs will need to adopt this standard in FY26.