Despite the current global disruptions, organisations should not push out planning and preparing for Australia’s proposed Financial Accountability Regime (FAR). The FAR is intended to hold executives and board members at banks, insurance companies and other financial services institutions accountable for a wide range of misconduct at their organisations, from reckless and unfair lending practices to bribery and money laundering.

Compliance with the Financial Accountability Regime requires stakeholders across the board of directors, the senior management team and risk, compliance and legal teams to work together.

Read more on recommended steps and see how we are helping organisations bring their accountability framework to life.