Key Points:
Each AFS licensee will have varying governance, risk and
compliance focuses and priorities, these five are relevant to all
licensees.
The Australian Government's Future of Financial Advice
(FOFA) legislation commenced on 1 July 2012, and with compliance
mandatory from 1 July 2013, the countdown is now well and truly on
to ensuring your organisation is FOFA-compliant.
One of the many issues that an Australian Financial Services
Licensee needs to address prior to comprehensive legislative
changes such as FOFA is the impact of those changes on the
licensee's GRC framework.
In the last of our FOFA Ready series we take a step back and
consider the top five governance, risk and compliance
(GRC) issues you should consider as a final health
check for your organisation as it gets ready for mandatory FOFA
compliance.
