Determining reserves for aged care providers
Aged care providers hold substantial accommodation deposits, which are potentially useful to the business for investment in permitted capital expenditure. However, providers also need to maintain sufficient reserves to provide refunds when residents pass away or leave. PFS Consulting’s Stephen Crump discusses how an aged care provider can determine an appropriate level of prudential reserves, and address how these amounts should be invested.
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A five-minute summary of the Hayne Royal Commission findings
What questions has the Hayne Royal Commission raised for your organisation? We share our high level comments and thoughts here.
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The Royal Commission: Questions to ask in financial services
It’s important financial services institutions start questioning their risk management, culture and governance processes in light of the Royal Commission.
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Why is risk management a challenge for banks?
Here we explore why banks can find risk management challenging, and suggest a more strategic, intentional approach to developing their frameworks.
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The evolution of people-centred risk management
Risk management was traditionally seen as a technical profession. Since the Global Financial Crisis however, risk management has become much more people-centred. Read on to find out what this means, and the benefits of this approach.
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How to manage your cyber risk
The risk of cybersecurity incidents is mounting, both in terms of monetary loss but also reputational damage. Australian businesses have been a little behind in adopting cybersecurity measures, but the Notifiable Data Breaches scheme is changing that. How can you keep your business cybersecure?
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