RSM Australia

Risk Consulting

With the ever-changing landscape of threats that organisations continue to face, risk management services remain a priority for both board members and shareholders.Specialist risk advisory and technical expertise

The events of the global banking crisis through to recent cybercrime events demonstrate the importance of organisations identifying threats at an early stage and appropriately responding to these with risk management solutions.

At RSM, we specialise in working with organisations like yours.

Through our various risk consulting services, we can assist your organisation with successfully balancing risk and control to enhance the value that you deliver to your stakeholders.

Specialist Risk Consulting and technical expertise

We understand that organisations require support and guidance as you develop systems and processes to protect your business and its success. Our risk consulting consultants have market and sector expertise that, combined with specialist technical expertise and a leading edge approach to risk management, ensures your business is at the forefront of new approaches to managing risk.

At RSM, we offer a wide range of expert risk management services which include:

Blockchain

Working with key stakeholders in your business, we will scope out your existing offering or help to implement and integrate with existing systems. If you are looking to adopt blockchain into your business, we can conduct scenario planning exercises which will aid us to get a better understanding of any potential impacts to your organisation and implement any risk management solutions.

Enterprise risk management

Whether your organisation operates within a complex financial market, with unique products and services or in diverse technologies, our expert team understand the need for enterprise risk consulting solutions. Through years of experience, RSM can set a solid grounding for an effective enterprise risk management plan within your business.

Carbon sustainability risk consulting

With the uncertainty in the low-carbon economy in Australia, RSM brings together its skills, knowledge and resources to assist your business in becoming compliant with current legislations, as well as looking at your energy risk management solutions to ensure they can provide you and your clients with peace of mind.

GDPR

The EU General Data Protection Regulation (GDPR) has changed how businesses and individuals think about personal data, and the new regulation will drive more accountability for data protection across all organisations. Safeguarding any data you hold is imperative and the expert team at RSM can develop risk management solutions to protect you and your clients. 

To see how our team can help your company and to find out about all the risk management services we offer, contact RSM Australia today.

COVID-19 Post-Pandemic Workforce Management

The 'New Normal' - COVID-19 Post-Pandemic Workforce Management

People are considered a company's most valuable asset, being instrumental to its success and failure. With extensive disruption caused by the COVID-19 outbreak, people have been significantly impacted resulting in workforce management instantly becoming more important than ever.

Business Continuity Plan: Development Methodology

Business Continuity Plan (BCP) experts at RSM bring some of the deepest and most thorough understanding of underlying risk and incident management issues.
IIA Reports - Internal Audit and Pandemics and Better Practice Guide for Financial Services Principles and Recommendations

IIA Reports - Internal Audit and Pandemics and Better Practice Guide for Financial Services Principles and Recommendations

The Institute of Internal Auditors (IIA) has released insightful papers on Internal Audit and Pandemics and Better Practice Guide for Financial Services Principles and Recommendations. The papers are good reference guides to the relevant internal audit practices to operate effectively in changing times.   
IIA's Procurement Integrity (Probity) Paper

IIA's Procurement Integrity (Probity) Paper

Probity is often considered as the "integrity & uprightness" of a process. A pragmatic approach to probity means maintaining flexibility in a controlled manner within an acceptable and defensible probity framework.

Is COVID-19 an excuse to forgo forensic due diligence or integrity checks?

In the wake of these ever-changing times it is quite natural for businesses and individuals to focus more on survival. This includes staff retainment rather than paying attention to protective control measures including conducting forensic due diligence checks.

Webinar: COVID-19 and managing business risks | 17 April 2020

Amid the rapidly evolving COVID-19 situation, there has been an increased emphasis on the development and tailoring of Business Continuity Plans (BCPs) to help ensure that the organisation is able to adjust to the new conditions.

Travelex, ransomware and beyond

2020 saw ransomware gang, REvil, strike Travelex in a hack that forced the foreign exchange company to go offline as the gang held its customers’ sensitive data hostage.
VIC State Government’s COVID-19 Stimulus Package – What you need to know

VIC State Government’s COVID-19 Stimulus Package – What you need to know

*This page was last updated on 30 March. For more information, click here.

COVID-19 Anti-fraud and corruption toolkit for business

An important COVID-19 fraud update from the Fraud & Forensic Services team at RSM 
Home office security essentials and tax deductions during COVID-19

Home office security essentials and tax deductions during COVID-19

To minimise the spread of COVID-19, businesses across the globe are hurrying to implement remote working for employees.
The myths of digital for the big banks

The myths of digital for the big banks

Digital. Fintech. Open Banking. Just a few of the buzzwords currently floating around in the banking industry.

COVID-19 and a remote workforce - steps to securing your organisation against cyber-attacks

The global fear surrounding COVID-19 has forced many organisations to develop ‘Coronavirus Plans’ and consider alternate working methods. In an effort to protect the health of employees during this uncertain time, it is also critical to consider the cyber security health of your organisation.  
ACT State Government’s COVID-19 Stimulus Package – What you need to know

ACT State Government’s COVID-19 Stimulus Package – What you need to know

*This page was last updated on 23 March. For more information, click here.
Stimulus Package #2 - Unprecedented Support by the Government

Highlights from the second stimulus package

The Prime Minister, the Hon Scott Morrison and Treasurer, the Hon Josh Frydenburg have announced the second stimulus package.  The stimulus package provides unprecedented support to those ‘at the front line’ including small businesses, employers and workers who are experiencing the impact of coronavirus now. 
General economic impact of COVID-19

General economic impact of COVID-19

The coronavirus (COVID-19) outbreak, starting in China and spreading across all corners of the globe, will have a major impact on both the Australian and international markets.
Economic impact of COVID-19 on the Property and Construction sector

Economic impact of COVID-19 on the Property and Construction sector

The construction sector is expected to face significant difficulties sourcing construction materials, primarily based in China, and other parts of Asia due to the outbreak of the Coronavirus (COVID-19).
Economic impact of COVID-19 on agribusiness

Economic impact of COVID-19 on agribusiness

The coronavirus (COVID-19) represents significant short-term risks to international demand for Australian meat and fisheries products and is expected to cause medium level disruption over the longer term.
Protecting you, protecting our staff

Protecting you, protecting our staff

At RSM, we will always prioritise the safety of our staff, clients and valued contacts. In the wake of announcements around the COVID-19 places, RSM has put in place a series of measures to ensure we are minimising any risk.
Government boosts support for health providers and communities in response to COVID-19 threat

Government boosts support for health providers and communities in response to COVID-19 threat

The Australian Government has unveiled a comprehensive $2.4 bn health package to protect all Australians, including vulnerable groups such as the elderly, those with chronic conditions and Indigenous communities, from the coronavirus (COVID-19). 
Government Stimulus Package

Government Stimulus Package

The Federal Government has announced a $17.6 bn economic stimulus package proposed to support businesses, keep Australians in jobs and support households. 
COVID-19 Pandemic Response Planning

COVID-19 Pandemic Response Planning

On the 30th of January 2020, the World Health Organisation (WHO) officially declared a Global Public Health Emergency in the wake of the continued spread of COVID-19 (formerly known as the Coronavirus) throughout Mainland China, Asia and Europe.

Managing climate change – companies facing financial and legal risks

In a recent article in The Age, it was reported that Australian business leaders are becoming increasingly anxious about the threat of climate change. Recent research indicates that Australian business leaders view climate change as the biggest issue facing society.  

South Pacific and Asia Conference 2020 (SOPAC®)

Darren Booth, National Head of Security and Privacy Risk Services at RSM Australia, will be presenting at the upcoming South Pacific and Asia Conference 2020 (SOPAC®) on 'The latest news in cyber security'. This presentation will cover the following:

5 ways boards can expect the unexpected: Resilience and Corporate Governance

The need for organisations to be nimble and responsive has never been more necessary. The pace of technological advancements, the global and mobile nature of today’s marketplace and rising regulatory burden mean that having resilience and continuity plans are critical.

Catch 22: Digital Transformation and it's impact on cybersecurity | RSM Australia

Regardless of their digital footprint, any business with a reliance on technology is at risk of cybercrime.

Non-Executive Directors and Good Governance - What Can Stand in the Way?

Major corporate failings that have dominated the media in recent years including safeguarding, whistleblowing and Board transparency have raised serious concerns for stakeholders including regulators, shareholders, employees and the non-executive community, with questions being asked regarding how to improve governance to address these and ot
auditor independence issues

Independence issues for internal auditors

Internal audits can help organisations understand how well they’re managing their risk, control, and governance processes. Internal auditors don’t just examine an organisation’s financials; they review all aspects of its operations to identify ways to help the organisation improve its performance. 

Audit Office of NSW - Internal Controls and Governance 2019

In November 2019, the Audit Office of New South Wales (AONSW) released a report summarising sector-wide findings and recommendations relating to internal controls and governance from their 2018-19 financial audits of the 40 of the largest public-sector agencies in NSW.

Audit Committee Guidelines by the Department of Finance

A good governance is a combination of processes and structures implemented by the Board to inform, direct, manage and monitor the activities of the organisation toward the achievement of the organisation’s objectives. The Audit Committee plays a pivotal role in ensuring good governance by overseeing the organisation’s

Fundamental considerations for digital assets

Digital assets like cryptocurrencies are a new asset class with a volatility and global availability that excites the investment community.

Whistleblower reporting and protection for your business

There are now legal requirements for companies to have whistleblower avenues in place and ensure whistleblower protection when receiving, managing and investigating reports, which bring companies up-to-date and beyond the whistleblower requirements for the public sector.

How secure is your Managed Service Provider (MSP)?

Many organisations currently outsource their information technology services to a Managed Service Provider (MSP), with the uptake of organisations engaging an MSP increasing significantly over time.

Safeguard Mechanism - Baseline Application Key Dates

In early March 2019, amendments were made to the National Greenhouse and Energy Reporting (Safeguard Mechanism) Rule 2015  which had the effect of:

Cyberthreats in the healthcare industry: More about people than IT

Health care companies must train staff to be vigilant around security. 

Cyber Liability Insurance for small to medium enterprises

To insure, or not to insure? Cyber Liability Insurance, that is the question. Cyber-attacks are becoming increasingly more sophisticated and organisations are struggling to stay ahead of the latest threats to their business operations.

Cyber Security Tips for SME Technology Enterprises

Five ways Technology, Media and Telecommunication (TMT) Organisations Can Protect Their Information

Emerging Competition in the Financial System

The sharing economy has grown significantly in recent years, facilitating innovation, job growth and more choices for consumers. It started with taxis and hotel rooms, but will financial services follow soon? Or has it already begun with the new wave of fintechs?

CPS 234 - Opportunity for third parties with strong information security controls

Information security under CPS 234 From 1 July 2019, the boards of the Australian Prudential Regulation Authority (APRA) and regulated entities will be held accountable in the event of a cyber security incident by the new Information Security Prudential Standard (CPS 234). 

Risk Consulting Team Expands With Senior Appointments

RSM Australia (RSM), one of the largest mid-tier accounting firms in Australia, has announced a senior appointment to its risk consulting team.

Articulating security issues in business language

The essential art of articulating security issues in business language.

Top of mind Cyber Security concerns for the financial services industry

Cyber attacks and data breaches are now commonplace in financial services, more so than in any other industry and becoming the number-one risk concern for executives and directors.  

Higher education and Vocational Education and Training (VET)

RSM UK has recently undertaken an analysis of Risk Registers across Higher Education institutions. 

Mega Trends Series

Exploring the key trends impacting the financial services sector. RSM's new Mega Trends series will delve into the global trends that will impact a constantly evolving financial services landscape, brought about through an increase in emerging competition, technological change and digital disruption.

ASX corporate governance principles (fourth edition)

Culture, values and trust What's happening? The fourth edition of the ASX Corporate Governance Council’s Corporate Governance Principles was released on 27 February 2019.

Capitalising on workplace culture

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.

Are you ready for the Modern Slavery Act?

On 1 January 2019, the Modern Slavery Act (Cth) (hereafter “federal Act”) came into force. What this means is that Australia, following in the UK’s footsteps, has federal legislation which requires, among other things, certain entities to report on the risks of modern slavery in their operation and supply chains.

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

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.

Maintaining data security: tips for franchisors and franchisees

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.

The Banking Royal Commission (BRC)

An analysis of the Banking Royal Commission (BRC), what has arisen so far and lessons for organisations.

Are financial penalties effective?

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.

Are you ready to meet the challenges of the GDPR?

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.

Should auditors be responsible for detecting fraud?

An auditor is a watchdog, not a bloodhound...

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

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

Are you up to date with the latest AASB standards?

New standards for classification and measurement of financial assets and liabilities have been in force since 1st January 2018.   Are you aware of how it will impact your business?

GDPR Case study - Online gaming

RSM firm: Malta RSM contact: Gordon Micallef Bringing RSM’s ideas and insight – the work we carried out

GDPR Case study - Sport

RSM firm: Belgium RSM contact: Steven Vermeulen

GDPR Case study - Healthcare

RSM firm: Belgium RSM contact: Steven Vermeulen Bringing RSM’s ideas and insight – the work we carried out RSM Belgium performed a compliancy analysis with Belgian Privacy legislation.

GDPR Case study - Charity

RSM firm: UK RSM contact: Steven Snaith Bringing RSM’s ideas and insight – the work we carried out We delivered a GDPR controls gap analysis for this organisation with a remit that included the following:

GDPR Case study - Insurance

RSM firm: Netherlands RSM contact: Maarten Mennen

GDPR Case study - Engineering

RSM firm: Ireland RSM contact: Terry McAdam

GDPR Case study - IT and software

RSM firm: Netherlands RSM contact: Rien Hommes

GDPR Case study - International NGO

RSM firm: Ireland RSM contact: Terry McAdam

GDPR Case study - Government

RSM firm: Netherlands RSM contact: Rien Hommes & Gerrit Goud

GDPR Case study - Aerospace

RSM firm: Germany RSM contact: Oliver Bungartz & Gregor Strobl

GDPR Case study - Financial Services

RSM firm: Ireland RSM contact: Terry McAdam

Assessing Governance - A Critical Step for Successful Change

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

How damaging is the KRACK Wi-Fi attack?

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

KRACK Wi-Fi exploit highlights core vulnerabilities of the internet

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

Political bid to restore confidence in Murray Darling Basin Authority

Farmers need greater clarity around what constitutes ‘appropriate compliance’ with Murray Darling Basin Authority water use regulations, before the findings of a badly needed review initiated by the Turnbull government are made public later this year, warns RSM Australia.

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

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

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

Global ransomware outbreak

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

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.

Recent AML/CTF Updates: A KYC Game Changer

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

Our services to the local government sector

RSM has a long history, both in Australia and overseas, of providing a wide range of value added services to local government.

Industry insight - Milk powder manufacturing

A snapshot of the key statistics and current industry performance in the milk powder manufacturing sector.

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

C-Suite's dirty little fraud secret

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!

Managing change at board and executive level

RSM recently held a lunch featuring a panel including Paula Dwyer, Professor Judith Sloan and Fiona McGauchie with Catherine Walter as MC to discuss how to manage change at board and executive level. This is a synopsis of the event.

Managing the risk of forged degrees and diplomas

Recent media has reported that there is considerable risk of forged degrees and diplomas entering Australian employment markets visa sophisticated, off-shore forgery businesses offering them at a premium fee.

Government entities: corruption risk management and an integrity framework

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.

Emissions Reduction Fund auction – what’s next for Australian businesses looking to participate

New methodologies likely to be approved before the next Emissions Reduction Fund auction will open up opportunities for more businesses and industries to participate, but they must act now, according to RSM.

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

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.