Category Archives: Government Regulation

Regulatory burden increases for Australian franchisors; but Regtech may hold the answer

Recent amendments to the Australian Fair Work Act 2009 now make franchisors responsible for the underpayment of wages by their franchisees. Included in the amendments are new higher penalties for serious contraventions of the Act, with an increase in penalties of up to 10 times higher. For example, penalties for companies will rise from $54,000 […]

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Advanced data-analytics set to transform the audit

Since the GFC there has been a major push by governments, industry bodies and enterprises to improve audit quality and reduce costs.  Tougher government regulations, increased oversight, and bigger penalties have only added to these pressures. It should therefore come as no surprise to find in recent years there has been a significant increase in the level […]

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Solving the Integrated Risk Assurance Puzzle

What is Integrated Risk Assurance?“ Integrated risk assurance involves an objective examination of evidence for the purpose of providing an independent assessment on risk management, control, or governance processes for the organisation”, (as defined by the IIA).   Why is it important? Despite the events of the recent global financial crisis and the ever-increasing pressure […]

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Is call for risk-based approach to Government Regulation achievable?

A growing trend among asset owners and operators worldwide is the move away from inefficient time-based maintenance practices and the adoption of more proactive condition-based methods. There were a couple of recommendations from the recent Murray inquiry into Australia’s financial system that I found particularly interesting. It called for a strengthening of ASIC’s investigative capacity […]

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