For this task, the student must demonstrate an understanding of corporate governance principles, the application of these principles by reviewing current policies and procedures and identifying variations using authoritative sources.

This task will be conducted for Gelos Enterprises Pty Ltd which is a simulated environment that replicates the workplace.

Review Gelos Enterprises Pty Ltd cyber security policy and procedure and how it helps to achieve a good level of corporate governance. Within the review you will need to assess the; compliance with corporate governance requirements relevant to business operations, compliance with legislation, and identify any gaps that will need rectifications.

Document your findings in the table provided for this procedure:

Review of current procedures: Procedure 1 Cyber security

You will need to access the following resources fort his task (see assessment event overview on page 3 for links):

• Corporate governance documentation required for role (Gelos Financial Authorisation Policy FNSACC526_AE_Sk2of4_App_Finance Authorisation Policy).
• Organisational operational policies and procedures required for role (Gelos Cyber Security Policy FNSACC526_AE_Sk2of4_App_Cyber security policy).

While you are performing the task, you must demonstrate the following skills:

• Review internal control procedures that apply corporate governance requirements to internal operations.
• Identify variations in adopting corporate governance requirements in operations and determine their causes.
• Interprets and analyses complex information and documentation from a range of authoritative sources, including legislation

Review of current procedures: Procedure 1 cyber security

Table 4 Review

Current procedure as per policy	Assessment of compliance and identification of gaps in internal control procedures
The current procedures has no recovery plan in the even of a cyber security	Analysis of ASX corp gov requirements: ASX 7 recognise and manage risk: they are not protecting the companys data because they are lacking a recovery plan in the event of a breach. The principle requires that risks are managed. Impact of gap: What procedures they need to have to address this
Currently no user access procedures
No current cloud services
Authoritative sources used to identify gap: Cyber.gov.au (essential eight) ASIC. ASIC