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1 March 2024
As the ever-evolving landscape of risk management, our focus this month hones in on the critical areas shaping the future of businesses and industries.
The swift evolution and adoption of artificial intelligence and digital technology bring forth a myriad of risks and pressing questions for you, as a business leader, to address. These include:
- How can you ensure your organisation is protected from cyberattacks?
- What are the best practices for protecting sensitive data in a remote work environment and increasing use of AI?
- How should you respond to a security incident?
In our interconnected world, cyber threats are a constant and evolving challenge. Business leaders must care about cyber security because breaches can lead to significant financial losses, damage to reputation and legal consequences. Effective cyber security measures protect not only the organisation's data but also safeguard the trust of customers, partners and stakeholders. One such measure is called penetration testing, which is a simulated cyber attack against your computer system to check for exploitable vulnerabilities. This proactive approach uncovers vulnerabilities and fortifies defences against cyber threats.
In an era where data privacy is paramount, we explore the top risks for boards and organisations and look at strategies to protect sensitive information. With stringent data protection regulations like GDPR and CCPA, leaders must ensure compliance to avoid hefty fines. Moreover, consumers are increasingly aware of their data rights, and failure to protect privacy can result in loss of customer confidence and business.
The digital transformation of businesses is inevitable as it offers enhanced efficiency, better customer experiences and new avenues for growth. Leaders must navigate digitisation to stay competitive and relevant in their industry. It is important to look at the strategies and change management skills required to make the most out of the opportunities brought by digitisation and Industry 4.0. This involves adopting new technologies like AI, fostering a culture of innovation, and continuously adapting to digital trends to improve operations and drive business success.
These areas are integral to the resilience and longevity of a business in today’s digital economy. They are not just IT issues but strategic business concerns that require leadership attention and action.
Moreover, the energy transition represents a strategic pivot towards sustainability, a move that is becoming increasingly essential for corporate resilience and competitiveness. We
provide insights on how companies can embrace this shift, and feature a video from RSM’s Sarah Melville-Maguire discussing ESG reporting, the impacts on supply chains, and shifting consumer expectations, with a particular lens on agribusiness.
Warmest regards,
Jean-Marc
ARTICLES AND INSIGHTS
The Art of Ethical Hacking: An Introduction to Penetration Testing
In cybersecurity, **penetration testing** plays a crucial role. It involves simulating cyberattacks on an organisation's systems to identify vulnerabilities and weaknesses. By conducting these tests, businesses can proactively address security risks and enhance their defenses.
Data Privacy Today: Pitfalls, Strategies and the Future Ahead
In today's digital world, businesses increasingly rely on online transactions. However, cybersecurity and data privacy are top risks for boards and organisations. Data integrity is crucial for consumer trust, revenue, and long-term strategic goals.
C-suite fraud: yes, it happens more regularly than one would like to believe!
Fraud within the ranks of top executives, including CEOs and CFOs, is a recurring issue that warrants attention. While most business leaders uphold high ethical standards and possess sound integrity, a small percentage engages in fraudulent activities.
Well placed to exploit energy shift
Australia will need new strategies, partnerships and funding models if it wants in on the green transition. Australia’s electric dream is charging up, set to revolutionise our infrastructure like nothing witnessed in modern times.
5 tips for successful digitisation (it’s not about technology)
Digitisation has become an essential part of the business world. Digital technologies offer us significant efficiency gains and improved customer intimacy. Explore five tips that can help you mitigate the risks and make your digitisation efforts a success.
10 key tools for a winning business transformation strategy
Embarking on a business transformation journey is akin to setting sail for an exotic destination. Without the right navigation tools, you're more likely to end up lost and frustrated than reach your destination.
Seizing an opportunity for growth
Currently, the manufacturing sector appears to be heading further toward industry 4.0, digitalisation, automation and decarbonisation. These trends are creating challenges for businesses that are struggling to adjust to changes in the manufacturing industry.
Leadership 4.0, the Digital Revolution and ESG Change
Worried about the digital revolution and tackling Environment, Social and Governance change? Is the answer leadership 4.0? Modern problems require modern leaders. In the era of Industry 4.0, or the digital revolution, business leaders need new qualities and skills to succeed. We call this collection of qualities 'Leadership 4.0'.
CASE STUDIES
NSW Local Aboriginal Land Council (LALC)
RSM helped an NSW Aboriginal Land Council to restructure and recover. Our government services team assisted a LALC in NSW to overcome governance, finance, operations, and property challenges.
Supporting a world-leading manufacturer to review their fixed asset register using Alteryx
As a world renowned manufacturer, managing an extensive fixed asset register was difficult and time consuming for our client. RSM was engaged to perform a comprehensive data audit to identify anomalies and deliver recommendations for remediation.
Fraud and Corruption Control Assessment for Victorian Government regulator
This case study demonstrates how we deliver peace of mind, value and insights to our clients in the public sector.
EVENTS AND SPONSORSHIPS
Crisis and Business Resilience Conference 2024
18 March - 19 March 2024
Stamford Plaza Sydney Airport Hotel
Sydney‚ Australia
SOPAC
3 March - 4 March 2024
Sydney‚ Australia
We are excited to announce that we are the Major Sponsor of SOPAC 2024, Australia’s premier internal audit event.
Come and visit the RSM Wellness Centre at booth 9-11 to enjoy a relaxing massage and chat with our friendly team. We look forward to seeing you there!
CFE (Certified Fraud Examiner) Exam Review Courses
RSM Australia has an ongoing agreement with the Association of Certified Fraud Examiners (ACFE) as the exclusive ACFE Authorised Trainer for the CFE Exam Review Course for Australia. Anti-fraud and fraud examination (investigation) professionals around the world earn their Certified Fraud Examiner (CFE) credential by taking and passing the CFE exam.
Master the skills and knowledge you need to pass the CFE exam by attending this CFE Exam Review Course. This instructor-led course will help you clearly understand the concepts tested on the CFE exam – investigation, law, financial transactions and fraud schemes and fraud prevention and deterrence.
Registrations for 2024 courses are now open. Secure your spot today!
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