Yes. Assured Support assists AFS licensees, ACL holders, and financial services businesses develop and strengthen governance frameworks, oversight structures, compliance systems, and risk management arrangements. ASIC expects governance frameworks to support effective decision-making, accountability, monitoring, escalation, and management of regulatory and operational risks relevant to the licensee’s business model and obligations.
Expanded Answer
Assured Support assists regulated businesses design, review, and improve governance frameworks aligned with Australian financial services and credit licensing obligations. Support may include governance structure design, board and committee frameworks, delegated authority arrangements, accountability mapping, compliance reporting systems, risk management frameworks, breach escalation processes, monitoring programs, and operational governance controls.
ASIC commonly assesses governance arrangements by reference to whether oversight structures operate effectively in practice rather than existing solely as documented policies. Appropriate governance frameworks generally depend on the scale of operations, authorisations, outsourcing arrangements, advice or credit activities, technology usage, client cohorts, and operational complexity relevant to the business.
Effective governance frameworks typically support clear accountability, practical escalation pathways, reliable management information, risk identification processes, operational oversight, and evidence-based decision-making. Governance weaknesses may increase regulatory scrutiny where there are indicators of poor supervision, unmanaged conflicts, ineffective controls, repeated compliance failures, or inadequate responses to emerging risks. See also Governance essentials for AFS licensees: a practical guide and ASIC governance imperatives for 2026.
Why it matters
Weak governance arrangements can contribute to ineffective oversight, delayed escalation, unmanaged operational risks, poor compliance outcomes, and increased regulatory scrutiny. ASIC commonly expects licensees to demonstrate that governance systems are operationally effective, appropriately documented, and capable of supporting sustainable compliance and risk management outcomes.
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Practical guidance
- Assess whether governance structures clearly allocate accountability, oversight responsibilities, and escalation obligations across the business
- Review whether governance reporting, monitoring systems, and committee processes provide meaningful operational visibility and risk insight
- Document governance decisions, control ownership, and risk management responsibilities in a way that is operationally workable and evidence-based