Risk Insider Newsletter - Edition #4

Technology Insights
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As Australians are beginning to gain confidence in the response to the coronavirus, which has caused widespread disruption for the last few months, public conversation is quickly and rightly swinging to economic recovery. We will watch carefully the impact this has on economic recovery as restrictions begin to be unwound. Our clients need us now, as we face this crisis together. Drawing on our experience during the global financial crisis, we know that taking early and decisive action to manage risks is critical. 
 
The response of RSM has required a rapid evolution in the way we work. We continue to assist our clients in navigating through these difficult times and have taken the necessary steps to keep delivering our services albeit remotely. We are deeply proud with the way our various systems and platforms have been upgraded to enable seamless delivery of our services. We have also developed an “Agile Approach” adopting the principles of LEAN and Agile. Currently, we are doing all client work remotely and having virtual meetings using sprints and scrum techniques.

Jean-Marc Imbert
National Head of Risk Advisory
RSM is also using the strength of our national practice during this period to explore new and innovative services and in this edition of Risk Insider you will get a good insight on those services for Risk Advisory. We welcome you to visit our website for more details on similar offerings for other service lines.
 
 
Cheers,
Jean-Marc
 
 
 
ARTICLES AND INSIGHTS
 

COVID-19 Pandemic Response Planning
The Risk Advisory team at RSM remain dedicated to supporting Australian businesses and are offering a FREE rapid assessment of your Pandemic Response Plan. Please contact your local office Risk Advisory expert if you are an Australia-based company and would like us to assist. Read more about critical pandemic response planning considerations >>

Anti-fraud and corruption toolkit for business
Amid widespread public concerns over the rapidly changing COVID-19 situation, fraud, corruption and workplace misconduct risk is heightened. There has been an escalation in fraud related to the COVID-19 pandemic, which puts businesses at risk of further loss and reputation issues. Read more >>

Aged Care Royal Commission Interim Report
While there are clearly challenges for the residential aged care sector, there are also a myriad of opportunities to move forward successfully in the new landscape. Download our detailed analysis which includes some of the ramifications of the areas identified for immediate action as well as the opportunities that could come out of this transformation for the aged care sector. Read more >>

COP25 and the implications for Australian business
The 25th annual United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP25) took place in Madrid on 2-13 December 2019. COP25 highlighted the global need to ramp up national targets to cut emissions at least 50% lower than under Paris Agreement pledges by 2030 before global warming passes the point of no return.
 
Visit the RSM Coronavirus Advisory Centre for the latest resources to help you deal with the impact of Coronavirus to your business.
 

Have you subscribed to our Mega Trends series?
Compliance has become one of the most significant ongoing concerns for large and regulated organisations, with costs increasing and the scope of regulatory focus continually expanding.
 
Have compliance, risk and audit functions become hostage to a process-based focus? Download the fourth instalment of our Mega Trends series to find out.
 

 
 
EVENTS AND WEBINARS
 
Webinar: COVID-19 and managing business risks
On 17 April, Jacob Elkhishin and Roger Darvall-Stevens from the Risk Advisory Services team at RSM hosted a webinar focussed on strategies to be considered in BCPs and how to mitigate fraud, corruption and cyberfraud/security risks while working from home (WFH).
 
If you missed this webinar or would like to view it again, below are the relevant materials.
 

 
 
 
CFE Exam Review Course for Australia
The Sydney CFE Exam Review Course on 21-24 July 2020 is now transitioning to a fully interactive virtual learning conference due to COVID-19 pandemic restrictions for social interactions. We will continually update our website as the situation evolves. Registrations are open for the upcoming 2020 courses - secure your spot today!!
 
 

 
 

Context
Under Climate Active (formally known as the National Carbon Offset Standard), businesses are empowered to seek carbon neutral certification. This certification is available for: organisations, products, services, events, precincts, or buildings.
 
As part of the certification process, organisations are encouraged to develop an emissions reduction strategy and work to reduce emissions. All remaining emissions must be offset through the purchase of carbon credits, allowing for a business to become carbon neutral. 
 
Scope
RSM was engaged to conduct an assurance engagement for a large paper manufacturing business to validate their carbon neutral claim. 
 
Value add outcome
A detailed analysis of all inputs into the paper manufacturing process, ensuring that all emission sources were accounted for and included in the carbon account. Through this engagement, RSM was able to provide assurance services which have allowed many of the manufacturer’s products to continue to be certified as carbon neutral. 
FOR FURTHER INFORMATION
Tim Pittaway, Partner - Risk Advisory Services, is a registered Climate Active Consultant. For more information on our carbon and sustainability services, click here.
 

Authors

Jean-Marc Imbert
National Head of Risk Advisory
Roger Darvall-Stevens
National Head of Fraud & Forensic Services
Jacob Elkhishin
National Leader, Resources, Mining, Energy & Sustainability
Jeremy Elman
Partner - Sydney
Tim Pittaway
Partner - Sydney
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