The Australian Securities and Investments Commission (ASIC) has called on companies to review their whistleblower arrangements after a national questionnaire showed wide differences in how organisations design and implement their programs.
Report 827, Insights from the ASIC Whistleblower Questionnaire: July 2024 to June 2025 (REP 827), is based on responses from 134 entities across 18 industries. It compares current whistleblower policies and procedures with approaches ASIC has previously set out in regulatory guidance and earlier reviews.
ASIC commissioner Alan Kirkland described whistleblowers as an important source of information for boards, regulators, and other stakeholders. “Whistleblowers play a crucial role in identifying and exposing misconduct that can harm customers, shareholders, companies and the broader community. Without effective policies and programs to encourage whistleblowers to come forward, misconduct may otherwise go unreported and undetected,” Kirkland said.
The questionnaire identified substantial variation in how whistleblower frameworks are structured and managed. More than one-third of participating entities did not have a dedicated whistleblower web page for lodging concerns, reducing one of the formal channels available for reporting. About a quarter of surveyed companies did not provide regular training for staff on...
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