HOW TO GET READY FOR ASRS - AUSTRALIA

STEP 2 CONVENE YOUR TEAMS

ASIC is already encouraging subjected corporations to commence work immediately rather than waiting for legislation to be passed. While certain details may change, the broad parameters of ASRS are clear, allowing organisations to begin work now. Depending on your internal systems, processes and resources, corporations may require six months or longer to complete the early steps of this process. Given these lead times, it is essential to identify the leaders, experts and teams that will guide compliance imperatives. This can include establishing a working group with representatives from legal, finance, risk, sustainability, procurement and operations to identify the cross-functional impacts and responsibilities of reporting.