Tighter regulation, increased regulatory scrutiny, significant media attention and expectations for greater transparency are balancing the growth ambitions of Government and the business sector. Ultimately, we are seeing the regulatory environment permanently change in Australia.
Set out below are six key issues and risks for business and Government agencies to be alert to, and prepared for, in 2018.
Royal Commission – inquiry looks to shake up the financial services sector. How will your organisation respond?
Cybersecurity – the year of transparency. Why? Because customers will demand it and the OAIC will regulate it.
Bribery & Corruption – will 2018 be the year foreign bribery moves up on the Government’s agenda?
Procurement Fraud – the risk of extended supply chains. Is your organisation prepared for impending legislation?
Whistleblowing – significant changes ahead. Reforms to be implemented, however is Australia still lagging behind?
Disputes – litigation funders arrive. International arbitration and class actions will continue to increase.
Being aware of the issues and risks is important however, the response to an incident whether proactive or reactive is what ultimately dominates much of the dialogue and scrutiny once uncovered. Our team of experienced Forensic Accountants and Technology specialists look forward to assisting our clients throughout the year and keeping them ahead of the field.