POWERED BY MOMENTUM MEDIA
APRA flags imposition of cybersecurity external audits
Superannuation funds will likely be compelled to engage external audit firms to conduct a review of their cybersecurity arrangements, under a new regime being put in place by the Australian Prudential Regulation Authority.
The regulator announced the move today with its board member Geoff Summerhayes saying APRA would “shortly be requesting one-off tripartite independent cyber security reviews across all our regulated industries”.
He said that, starting next year, APRA would be asking boards to engage an external audit firm to conduct a thorough review of their CPS 234 compliance and report back to both APRA and the board.
“We haven’t made a final determination on which entities this will apply to, but all entities should prepare accordingly,” Summerhayes said.
He also used his speech to a Financial Service Assurance Forum to reveal that fund managers and other suppliers to APRA-regulated entities would be part of the assessment process with respect to cybersecurity.
“To achieve this, APRA will engage with a selection of suppliers, auditing associations and financial entities to develop stronger third-party provider assessment and assurance practices for use by APRA-regulated entities,” Summerhayes said.
He also pointed to the development of greater alignment between APRA, the Australian Securities and Investments Commission (ASIC) and the Reserve Bank with respect to cybersecurity requirements.
Recommended for you
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
With private asset valuations emerging as a key concern for both regulators and the broader market, Apollo Global Management has called on the corporate regulator to issue clear principles on valuation practices, including guidance on the disclosures it expects from market participants.
Institutional asset owners are largely rethinking their exposure to the US, with private markets increasingly being viewed as a strategic investment allocation, new research has shown.
Australia’s corporate regulator has been told it must quickly modernise its oversight of private markets, after being caught off guard by the complexity, size, and opacity of the asset class now dominating institutional portfolios.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
