What can we learn about culture from the CBA report?
What the APRA Prudential Inquiry into the Commonwealth Bank of Australia shows all too clearly is that it is not good enough to take a limited view on risk management. The Hayne Royal Commission, the APRA Inquiry and the ASX Principles Review's proposed recognition of the fundamental importance of a company's social licence to operate, taken together, provide an opportunity to review and assess the current state of governance practice. They also invite reflection on what these current events can teach.
