Our industry insights

Is your EFS reporting process audit-proof?

With heightened expectations from regulators, audit firms are in turn increasing the scrutiny on ADI’s and RFC’s to inform their APS 310 and RRS 710 audit opinions. Clean APS 310 audit opinions in previous years are by no means a guarantee for a clean audit opinion on EFS forms. This document outlines the key focus areas identified for entities to become audit-ready.

Declassification of ADI Data

APRA issued a consultation letter in December 2019, which proposed immediate declassification of specific data points across various submissions by banks that are fed into its quarterly ADI statistics. The Consultation on the confidentiality of data used in ADI quarterly publications and additional historical data also covered the agency’s plans to make public certain forms in their entirety with a time lag of 3 years from the date of submission.

APRA and Technology, what’s next?

This RegCentric whitepaper briefly outlines data management, cyber security and technology developments in the Australian financial system from a regulatory lens.

Extinction of LIBOR

Is the Australian Financial industry ready for the “big switch”?

In this paper, we dive deeper into the underlying reasons that provoked the need for alternate benchmarks as well as the cause and effects of LIBOR replacement on the Australian Financial Industry and how the replacement can be best carried out with minimal impact on business continuity & sustainability.

Finalized Basel III Framework

In December 2017, the Basel Committee on Banking Supervision (BCBS) completed its journey of finalizing Basel III post-crisis regulatory reforms. The reforms, originally introduced in 2010 in the aftermath of the GFC, underwent multiple phases of discussions and negotiations, before finally rolled out for implementation with deadlines leading up to the 3rd decade of the century.

We will dive deeper into the recently introduced wave of changes in Phase 3, however, for the sake of maintaining the chronological sanctity of the Pillar III revisions; let’s also have a brief look at the major overhauls undertaken in Phase 1 & Phase 2.

Shortlisting Critical Data Elements

A CDO's guide on CDE's

This paper advises firms to adopt phased approach in shortlisting their critical data elements. In first phase, start from the areas that require immediate attention to stop the bleeding and fix the glaring issues with respect to data. The areas that can be focused at this stage are regulatory reports, bottleneck processes and even crucial projects.

Seizing the opportunity

How Australian firms can turn regulatory burden into business opportunities.

Leveraging regulatory change event to improve infrastructure, processes, governance and operating models will drive operational efficiency, ensure compliance and support better decision making, ultimately improving overall business outcomes.

In this whitepaper we explore how regulatory changes can act as catalysts for transformation and how they can be treated as an opportunity rather than a burden.

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