APRA has published an article reviewing compliance with Prudential Standard APS 232 for financial institutions as the end of the 12 month transitional period approaches.

APRA concludes:

In summary, many Australian financial institutions have already made good progress toward strengthening the resilience of their operations, but others still have work to do. Several financial industry associations have been active in sharing best practices with respect to business continuity management, assessing whether any common vulnerabilities exist in underlying critical infrastructure and developing industry-level plans and protocols for coordinated responses to a major operational crisis. However, APRA notes that many of these efforts are in their early stages and further work is needed.