PKF Perth

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APRA rules on risk management

02 Jun 2015

The Australian Prudential Regulation Authority (APRA) has released the final version of its new risk-management standard and associated guidance.  PKF Mack Audit & Assurance Partner, Simon Fermanis provides an overview of Prudential Standard CPS 220 'Risk Management' and Prudential Practice Guide CPG 220 'Risk Management'.

The new requirements are applicable to authorised deposit-taking institutions (ADIs), general insurers and life companies, as well as authorised non-operating holding companies (NOHCs), taking effect from 1 January 2015.

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