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Sixth Annual Third Party Assurance Survey

Insights and perspectives, including benchmarking results

Views on results of the past, the present and the future of third party assurance reporting, including how to get better outcomes from service providers

This insights report combines the findings from a survey of third party control assurance reports that are issued or used in Australia, with a forum held with national users, service providers, industry bodies and APRA.

The round table forum discussed the future of third party assurance reports, their scope, use and purpose. We also took a unique look at what the future of third party assurance reporting looks like. And how the scope and use of these third party assurance reports will need to change as the needs of users and other stakeholders change.

In the survey we collected a range of data to comprehensively analyse and provide our perspectives over the results of third party assurance reports, including the number and use of automated / manual and preventative / detective controls operated, the number and nature of deviations in controls identified, and the timeliness of these reports.

We use these findings and our practitioners’ experience to help organisations benchmark their reports, as well as any that are received from their service providers. 

And finally we consider in detail how to get better outcomes from service providers including what other information is necessary, how third party monitoring frameworks can be improved, as well as ask whether you seek third party assurance reports from all your outsourced providers?

We look forward to receiving your comments, feedback and assisting should you require.

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