Monitoring & Reviews

Compliance monitoring programs, file reviews, surveillance and testing.

4 articles

How do I prepare for an ASIC review before it happens?

Prepare for an ASIC review by keeping your records, registers, advice files, policies, monitoring reports and issue-management evidence current before ASIC asks for them. You should be able to show how your compliance framework operates in practice, not just produce documents that describe what should happen.

How do I know whether my compliance monitoring program is actually working?

Your compliance monitoring program is working if it identifies issues early, verifies that controls are operating effectively, drives corrective action and provides management with meaningful insight into compliance risks. If monitoring only confirms that tasks have been completed, it is unlikely to provide effective assurance.

How do I know whether our compliance framework is improving over time?

You know your compliance framework is improving when evidence shows fewer repeat issues, faster closure of actions, better quality records, stronger oversight and more effective controls. Improvement should be measured through trends, not isolated results. A good framework becomes easier to monitor, easier to evidence and more useful for decision-making.

How do I know if something important has been missed?

You reduce the risk of missing important compliance issues by maintaining clear oversight of your obligations, monitoring activities, incidents, actions and reporting. Rather than relying on memory or manual checks, use structured processes that highlight overdue tasks, unresolved issues and emerging risks before they become significant problems.

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