Our Risk Insider client newsletter provides you with the latest information, news, articles and events in the technology, fraud, cyber security, data analytics and environmental sustainability space.

7 December 2021

Widespread labour shortages are hampering many companies’ ability to capitalise on an economy that is expanding as we recover from this devastating pandemic. “Companies will not experience a return to the way things were in the labour markets before the pandemic” quoting Aaron McEwan VP of Research & Advisory at Gartner’s HR Practice from a recent presentation to RSM Partners group.

The retirement of baby boomers, lingering challenges associated with the pandemic and a “you only live once” philosophy among many younger workers are driving a structural shift in the labour market away from the conditions that prevailed since the 1980s. Now employers are wooing workers with improved pay, flexible work arrangements, state-of-the-art technology and better employee treatment. These changes are just the beginning of what is a significant shift in the Australian workforce. Companies across industries are finding themselves on the challenging end of the labour issue, as they try to ascertain how to navigate the shocks unleashed by the pandemic.

Another phenomenon that is really changing the way we do business is “data” which has become the most important asset many companies have. Organisations that have access to reliable data have more success solving complex problems within the business, maintaining regulatory compliance and confidently driving overall decision-making. But do you really trust your data? To be truly useful, data must be accurate, available and usable. Companies of all sizes and in all industries operate multiple systems that collect data. Unfortunately, there are often few controls around that information, and the data is only as good as the processes behind it. That’s where data and reporting governance comes in.

The data and reporting governance process does not have to be scary. Many envision large-scale overhauls of existing databases and the information infrastructure, but that isn’t necessary. Instead, with some relatively non-invasive process adjustments, you can produce more quality data that yields more effective business insights.

Warmest regards,
Jean-Marc

ARTICLES AND INSIGHTS

Carbon Neutral Business - Climate Active

In a world focused on remaining below 1.5 C, it is increasingly important for businesses to demonstrate climate action and take climate action. Many businesses are already taking action, now is the time join them in becoming Climate Active Carbon Neutral Certified.

Payment Times Reporting

The Payment Times Reporting Act 2020 introduced a new Payment Times Reporting Scheme which aims to improve payment outcomes for small businesses by creating transparency around payment practices. Find out who the reporting affects, as well as how RSM can help by following the link.
Read more >>

CPS 234 – Tripartite Audit

RSM is one of those few organisations that are uniquely qualified to perform the CPS 234 - Tripartite audit and report in line with the ASAE 3150 standards required by APRA. Find out how we can help with a thorough analysis of your CPSA 234 environment.

Security of Critical Infrastructure Act 2018 (SOCI Act)

The Australian government has put into motion a bill; Security Legislation Amendment (Critical Infrastructure) Bill 2020 to bolster the Security of Critical Infrastructure Act 2018 (SOCI Act).

This bill is currently in Parliament and passage into law is expected mid-2022. However, it is important to understand the key aspects of the Bill now so that impacted organisations can prepare accordingly. Find out how this will likely affect your business and the framework of the bill

RSM has partnered with cybersecurity start-up Avertro

This partnership provides a platform for businesses to manage, measure and report on their cybersecurity performance at a glance. Relevant to businesses of any size, this powerful technology will streamline and automate up to 75% of a business' manual effort in taking data points, calculating, normalising and translating them into actionable insights

Webinar | Connecting the Dots - Cyber Security and Law

On the 16th November RSM Australia and Colin Biggers & Paisley hosted a virtual round-table discussing the relationship and links between cyber security and law as the number of data breaches in Australia increases.

Watch the webinar here >>

Event | Australasian Emissions Reduction Summit
Thursday 9 & Friday 10 December

On the 9th & 10th of December RSM Australia will be partaking in the annual Australian Emission Reduction Summit at the ICC Sydney. Come speak to our team at our exhibition booth or online about how we are helping our clients reach net zero.
Find out more about the event here >>

ANNOUCEMENTS

Congratulations - Tim Pittaway

Tim Pittaway has been accepted as an Accredited Auditor with Accounting for Nature. Tim is able to assist our clients in verifying that an Environmental Account has been developed in accordance with AfN Standards and chosen Methods.
You can find out more about Tim and his qualifications here >>