What It Is

IATF 16949:2016 is an international certification standard for quality management systems (QMS) in automotive production and service parts. Built on ISO 9001:2015, it adds sector-specific requirements for defect prevention, variation reduction, and supply chain consistency using a risk-based, process-oriented approach aligned with PDCA.

Key Components

• Clauses 4–10 mirroring ISO 9001, plus automotive supplements.
• Mandatory **core toolsAPQP, FMEA, Control Plans, MSA, SPC, PPAP.
• Focus on product safety, supplier management, CSRs, and leadership accountability.
• Certification via IATF-approved bodies with staged audits.

Why Organizations Use It

• Meets OEM contractual demands for supply chain access.
• Reduces warranty costs, recalls, and COPQ through prevention.
• Enhances competitiveness, stakeholder trust, and operational efficiency.
• Drives continual improvement and risk mitigation.

Implementation Overview

• Phased: gap analysis, core tool deployment, training, audits.
• Applies to automotive sites, remote supports, suppliers.
• Timelines 6–36 months; requires leadership commitment, digital tools.

What It Is

APRA Prudential Standard CPS 234 (Information Security) is a mandatory prudential regulation issued by the Australian Prudential Regulation Authority for regulated financial entities. Effective 1 July 2019, it requires maintaining information security capabilities commensurate with threats and vulnerabilities to minimize impacts on confidentiality, integrity, and availability (CIA) of information assets, including those managed by third parties. It employs a risk-based, assurance-driven model emphasizing governance, testing, and rapid notification.

Key Components

Core elements include board ultimate responsibility (para 13), defined roles (para 14), asset classification by criticality/sensitivity (para 20), commensurate controls across asset lifecycles (para 21), incident response plans with annual testing (paras 23-26), systematic independent testing (paras 27-31), internal audit assurance (paras 32-34), and APRA notifications (72 hours for material incidents, 10 business days for weaknesses). No fixed control count; proportional to risk, aligned with CIA principles.

Why Organizations Use It

Driven by legal obligations under banking/insurance acts to avoid penalties and supervision. Enhances cyber resilience, operational continuity, third-party risk management, and prudential outcomes. Builds customer trust, reduces incident impacts, and supports competitive positioning in financial services.

Implementation Overview

Phased approach: gap analysis, governance/policy setup, asset inventory/classification, control deployment, testing/assurance programs, ongoing monitoring. Applies to APRA-regulated entities (banks, insurers, super funds) regardless of size; requires demonstrable evidence via internal audits, no external certification but subject to APRA supervision.