ASIC’s Report 758 Good Practices for handling whistleblower disclosures was based on an independent review of seven large organisations.

Key findings

ASIC found that organisations with strong whistleblower programs fostered a culture and practices to support whistleblowers.

These organisations inform and train professionals on how to receive and handle disclosures while protecting whistleblowers and treating matters confidentially.

Best practice in whistleblower programs involved a continuous process of  monitoring, reviews and improvement of the programs, including seeking feedback from whistleblowers.

The information from disclosures was used in a proactive manner to address underlying harms and improve company performance.

A key success factor of whistleblower programs was  senior executive accountability with  effective director oversight.

What you need to do

Consider how your program measures up against the 7 key pillars identified by ASIC in their review:

1.     Strong foundations for the Program

Have you established a strong foundation for your program?  This includes:

  • ensuring procedures and systems are in place to embed the program’s requirements
  • allocating resources to properly handle disclosures

2.     Whistleblowing culture

Are whistleblowers using your program to provide valuable information? If not, what needs to be done to actively promote and grow trust in the program and ensure whistleblowers are protected?

3.     Resources and training

How have you prepared people involved in the program to protect whistleblowers and treat disclosures confidentially?

4.     Monitoring and review

How are you ensuring that your program is up to date and that you detect issues with its operation?  How are you measuring its effectiveness?

5.     Use of information

How are you using and sharing information from disclosures to improve your operations?

6.     Senior executive accountability for the program

Who is accountable for your program and how do they discharge this responsibility? Do they have access to the right information for this purpose?

7.     Director oversight of the program

How are your directors overseeing the program? Do you have access to the right information for this purpose?

We’re here to help

Your Call provides a comprehensive range of specialist whistleblowing services, including anonymous whistleblowing hotlines, executive training and whistleblower framework reviews.

Speak to an expert about how Your Call can help you develop an ASIC-compliant best-practice whistleblowing program.

Additional resources