Document background
The Compliance Auditing and Monitoring Policy serves as a cornerstone document for organizations operating in Australia, establishing systematic approaches to ensure regulatory compliance and risk management. This policy becomes essential when organizations need to demonstrate robust compliance frameworks to regulators, stakeholders, and board members. It specifically addresses Australian regulatory requirements, including those under the Corporations Act 2001, ASIC guidelines, and industry-specific regulations. The policy includes comprehensive procedures for conducting internal audits, monitoring compliance activities, reporting mechanisms, and remediation processes. It should be implemented when organizations seek to establish or enhance their compliance monitoring framework, particularly in response to regulatory changes or organizational growth. The policy is designed to be adaptable across different industry sectors while maintaining alignment with Australian legal and regulatory requirements.
