RSM Australia

Technology Risks

Technology Risk Insights

APRA Self Assessment Information Paper

7 June 2019
Within its latest Information Paper, APRA finds that embedding effective frameworks and controls to identify, manage and mitigate non-financial risks is a challenge for all institutions regardless of size, complexity or industry.

Expertise in climate change, sustainability and environmental risk management

4 June 2019
Climate change and the environment are topics continually making headlines on a regular basis.

Capitalising on workplace culture

2 May 2019
Over recent years we have strived to create resilient, high performing teams, fully engaged, agile, workforces and above-the-line actions to collaboratively achieve a future vision.

Cyber Security: The show me - don't tell me approach

25 February 2019
The complexity and challenges presented by cyber security risks are both many and multi-dimensional.  However, there’s no single solution that is the panacea as organisations assess their cyber security risks.  The importance of adopting a strategic and holistic approach is more important than ever.

New Regulations for a New Year - CPS 234

8 January 2019
Following an increase in the frequency of information security attacks, a new Australian Prudential Regulation Authority (APRA) Information Security Prudential Standard (CPS 234) is coming into effect on 1 July 2019. 

Maintaining data security: tips for franchisors and franchisees

17 December 2018
Running a business in the digital age means that, on top of operational and customer delivery, there is another layer of complexity in the form of ensuring data security within your business is strong.

How the right technology can make franchises more successful

15 October 2018
Franchisees and franchisors often face key challenges around hitting financial targets, deciphering complex financial reports, meeting reporting deadlines alongside managing daily operations, managing client data, and identifying key financial trends to understand what actions can help increase the bottom line.

Blockchain technology

3 October 2018
From cryptocurrencies to tokenisation, the level of discussion, perceived potential and interest from regulators in regards to blockchain technology solutions is at an all time high. 

Are financial penalties effective?

12 September 2018
With the release of the Banking Royal Commission (BRC)’s interim report, a fresh wave of consumer backlash against the big four banks has surfaced along with cries for retribution, condemnation and large financial penalties.

Banking Royal Commission: Where did things go wrong?

15 August 2018
An analysis of what has arisen so far with the Royal Banking Commission and Lessons learnt for organisations. Learn More >

Are you ready to meet the challenges of the GDPR?

19 July 2018
Digital advancements have resulted in consumer data being created, collected and stored within seconds. It is increasingly important to have clear laws and safeguards in place given the growing digital economy and associated cyber security risk.

Blockchain and the evolution of Cryptocurrencies

13 July 2018
Blockchain and the evolution of Cryptocurrencies is still a work in progress.

Trust Account Audits

2 July 2018
In the wake of recent events, real estate agents are now under greater scrutiny from regulatory authorities, as well as the general public. As the threat of cyber crime attacks increases, the security of your client monies is critical to your business reputation. How we can help

Should auditors be responsible for detecting fraud?

11 June 2018
An auditor is a watchdog, not a bloodhound...

Fraud & Forensics - the 'must knows' for business leaders

23 May 2018
This month, Roger Darvall-Stevens, Partner and National Head of Fraud & Forensic Services at RSM, is featured in Financier Worldwide’s Corporate Fraud & Corruption Annual Review. In the feature, he talks about regulatory developments in Australia, fraud & corruption risks and offers advice to businesses on how to mitigate t

Assessing Governance - A Critical Step for Successful Change

14 March 2018
Perhaps one of the absolute truisms is that we live in a changing world. 

How damaging is the KRACK Wi-Fi attack?

24 October 2017
Mind the KRACK – How damaging is the KRACK Wi-Fi attack?

KRACK Wi-Fi exploit highlights core vulnerabilities of the internet

24 October 2017
Mind the KRACK - How the KRACK Wi-Fi exploit highlights the core vulnerabilities of the internet.

Why the ‘Cyber-drill’ is now the new ‘fire drill’

21 July 2017
RSM Australia was proud to recently sponsor a Boardroom Hypothetical presented by the theresolution.com.au around a major cyber incident.

The Chairperson has a critical role

14 June 2017
RSM Australia was proud to recently sponsor a Boardroom Hypothetical around a major cyber incident.

Global ransomware outbreak

15 May 2017
You will have noticed significant media coverage of an outbreak of ransomware globally which impacted 10,000 organisations in over 150 countries including Britain’s National Health Service and automaker Renault.

Unleash the power of whistleblowers in war on fraud

8 May 2017
Rather than putting a black mark against them, Australian firms should recognise the power of whistleblowers as an early warning system in the fight against fraud and corruption.

The emergence of Blockchain- what you need to know!

28 April 2017
Blockchain is one of the more exciting—and more misunderstood—emerging technologies.

4 steps banks should take to strengthen compliance management systems

13 January 2017
Focus on compliance culture and approach, not just transactions Regulators are taking a different approach to examinations at banks and credit unions. Where, until recently, they focused almost exclusively on files and transaction testing, they are now also taking a harder look at each institution’s overall compliance approach.

Responding to risk: Strategies to manage threats and opportunities

10 January 2017
In a competitive business environment, all organisations must implement Enterprise risk management processes to manage risk effectively in order to achieve business and strategic objectives. Your organisation encounters business risks on a daily basis; assuming risk in the pursuit of profit is the essence of a business.

ASIC media release on new accounting standards

20 December 2016
ASIC published a media release on 16 December 2016 highlighting the need for action on three major new accounting standards.  The three standards are: AASB 9 Financial Instruments (applies from years commencing 1 January 2018)

How to combat the growing threat of foreign bribery and corruption

8 November 2016
What is best practice and where do Australian companies currently rate?

APRA releases enhanced governance requirements for superannuation trustees

8 November 2016
On the 3rd of November, the Australian Prudential Regulation Authority (APRA) released updated governance requirements for APRA-regulated superannuation trustees (RSE licensees) with a final revised prudential standard and prudential practice guide on governance. 

8 ways to reinvent internal audit

26 October 2016
Reposition the focus from the “how to” to the “outcome”. Innovate ways to partner with stakeholders to reach the desired outcome. Embed the need for business acumen in order to provide practical advice and insight which creates value.

Recent AML/CTF Updates: A KYC Game Changer

24 October 2016
Fundamental changes to how reporting entities collect ‘Know Your Customer’ (KYC) information

An RSM approach to project quality assurance

13 September 2016
Managing a project in accordance with relevant methodologies and standards, ensures that:

Cyber security – 4 key areas of focus

9 September 2016
New Regulations for the Securities Market

Are you receiving all your royalty income?

28 July 2016
Learn how to identify and understand red flags that could result in significant lost revenue

The benefits of outsourcing or co-sourcing the internal audit function

26 July 2016
As well as being cost-effective, augmenting or completely replacing the internal audit function can deliver improved outcomes

Is your internal audit of AML/CTF doing all it should?

7 July 2016
The IA should provide a comprehensive review of your AML/CTF program

Five cybersecurity predictions for 2016

31 May 2016
As cyber attacks become more frequent and sophisticated, RSM advisors discuss how to protect your organisation against 2016’s emerging cyber threats.

5 key risks companies should monitor in 2016

25 May 2016
Plan now to address employment, inflation, currency, cybersecurity and vendor risks

Maintaining audit quality: 10 things audit committees should check with auditors

19 April 2016
The purpose of an audit is to confirm the validity of financial statements and help determine the value of an organisation. The auditor’s role is to express an objective opinion on whether the organisation’s management has fairly presented the information in financial statements.

Ultranet Operation Dunham

31 March 2016
RSM’s Fraud and Forensic Services’ Roger Darvall-Stevens and Probity Adviser Michael Shatter share their thoughts on the public examinations of Operation Dunham, Victoria’s Independent Broad-based Anti-Corruption Commission’s (IBAC) investigation into the Department of Education and Training’s $180 million Ultranet project.

Minimising the risks of franchisee non-compliance

17 March 2016
Franchises are currently under the spotlight following breaches by high-profile brands. As a result, franchisors should take steps to ensure their franchisees are complying with all legal and contractual requirements.

Why security shouldn’t be a spectator sport in your organisation in 2016

17 February 2016
There are many organisatons with a gap in their risk management strategies that is affecting the security of sensitive and private information according to RSM Australia.

A Glance at IFRS 16 Leases

18 January 2016
On 13 January 2016, the IASB published the long-awaited IFRS 16 Leases.  The project to issue a new leases standard began in 2006, primarily in response to user concerns about off-balance-sheet assets and liabilities arising from operating leases.

Improving IT cost efficiency

21 December 2015
The role of the CIO is changing from being a provider of IT services to being a broker of IT services, making the importance of having a solid understanding of the cost of delivering IT services more significant.

Rapid and sustained cost reduction

21 December 2015
Delivering sustained cost reduction strategies for your organisation through identifying, prioritising and eliminating waste.

Change in discount rate for employee obligations

8 October 2015
Under AASB 119 Employee Benefits, all for-profit entities and not-for-profit private sector entities are required to discount employee liabilities using the rate applicable to high quality corporate bonds. Where there is no deep market for those bonds, government bond rates are used.

C-Suite's dirty little fraud secret

25 August 2015
Fraud by CEOs, CFOs and others in the ‘C-suite’ is a dirty little secret which is rarely discussed but happens with disturbing regularity. It is one of those once in a lifetime events that seem to happen regularly!

Private certification put to minister

3 August 2015
Master Builder members met Planning Minister John Day in late May at a Lunch hosted by RSM and put forward a strong case for private certification of planning approvals.  Numerous case studies were presented of slow response times in many local government areas.

Government entities: corruption risk management and an integrity framework

15 July 2015
Government (at the Commonwealth, state or territory, local levels with municipal councils, and agencies and other government entities) has been leading the way in mitigating the risks of fraud, bribery, corruption and improper conduct.

The importance of risk management in today’s digital business environment

28 May 2015
Businesses must put the right security and processes in place to remain safe and sustainable, particularly in today’s changing business environment. There are many factors to consider from a risk perspective, and getting it right is critical.