Changes to the ASX CGC Principles and Recommendations 2014 are now effective.
How do you comply with each recommendation, specifically Principle 7 – Recognise and Manage Risk?
As you may be aware, on 27 March 2014, the Australian Securities Exchange Corporate Governance Council (ASX CGC) released the 2014 edition of its Principles and Recommendations. Under the ASX listing rules, all listed entities are required to actively consider the content of the Principles and Recommendations and are required to report against the revised recommendations for full financial years from 1 July 2014.
In particular, Recommendation 7.3 states that a listed entity should disclose:
- If it has an internal audit function, how the function is structured and what role it performs; or
- If it does not have an internal audit function, that fact and the processes it employs for evaluating and continually improving the effectiveness of its risk management and internal control processes.
As experienced internal audit professionals, aceia can help you to identify and understand your obligations in relation to these changes and deliver you with the assurance that the ASX requires.
With over 50 years of combined internal audit experience across a wide range of industries, aceia has a proven record of adding significant value to our customers – including Tatts Group Ltd, Bridgestone Australia Ltd, Nissan Motor Company (Australia) Pty Ltd and Mercedes-Benz New Zealand Ltd.
Our dedicated team of senior internal audit professionals are members of the Institute of Internal Auditors Australia (IIA) and will provide you with real commercial solutions that leverage our deep industry knowledge. We will provide you with a consistent, responsive and cost effective option for your internal audit and risk management needs.
We can provide you with a gap analysis to understand the current state of the existing framework and determine your requirements on a no obligation basis. Our gap analysis will help you assess the maturity of your current model and understand the level of reliance that could be placed on the existing framework to provide assurance to the Board.
By partnering with us and understanding your ASX compliance obligations, you will receive valuable insights that will benefit your business growth. As your trusted advisors, we will look for ways to improve your operations and to identify and implement quality improvements in the internal control and risk management framework.
Please contact us on 1300 791 794 to understand your current position and discuss how we may assist you.