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ASX confirms it will complete a program of work to uplift delivery capability across the organisation by June 2024.
ASX today released a special report on its response to the recommendations from the external review into aspects of
CHESS replacement, which was released last November. The external review provided 45 recommendations, all of which ASX has accepted and is implementing. Many of the recommendations have been extended to be addressed on an enterprise-wide basis, and today’s report outlines ASX’s progress.
ASX Managing Director and CEO, Helen Lofthouse, said: “ASX had already been undertaking work to uplift delivery capability across the organisation and these actions will lead to further improvements in de-risking project delivery, enhanced arrangements for predictable change, and better alignment between ASX and its vendors.”
The special report was provided to ASIC in accordance with a notice issued by ASIC earlier in the year. It was prepared as at 30 June 2023 and reflects ASX’s progress up to that point in time. The special report was subject to an independent audit by EY which found it had satisfied the requirements of ASIC’s notice, and that ASX’s response plan was appropriate to address 42 of the 45 recommendations, but there was insufficient information at the time of the audit to form a conclusion about three recommendations.
ASX confirms its intention to have implemented all 45 recommendations by June 2024. The actions to address the recommendations will be independently reviewed to ensure ASX meets all the requirements.
The special report and audit report are publicly available on our website.
Background
In August 2022, ASX commissioned Accenture to undertake an external review of aspects of the CHESS replacement project, focusing on a number of core issues which had been identified. Following their review, Accenture made a number of recommendations, all of which ASX accepted and is working to implement.
The external review report provided by Accenture was published on 17 November 2022. This Special Report - Response to recommendations made in the CHESS Program External Review, was required by ASIC under a notice issued by ASIC on 21 February 2023, and details ASX’s response to the recommendations from the external review report.
