The Australian Prudential Regulation Authority (“APRA”) has released in final form four prudential standards - on governance, fitness and propriety, outsourcing and business continuity management - that will consolidate and replace 12 existing standards across the authorised deposit-taking (“ADI”), general insurance and life insurance industries. 

The consolidated standards closely reflect the existing industry-specific prudential standards, with minor amendments to clarify requirements and ensure consistent application across industries.