Industry confidence in the Australian Prudential Regulatory Authority (APRA) remains high, according to its most recent stakeholder survey.

More than 90% of regulated financial companies believe APRA’s supervision helps to protect the industry and the community.

Eighty-six per cent of regulated companies believe APRA’s increased focus on risk culture is having a positive or very positive impact on the company, and 86% agree or strongly agree that APRA’s supervision enhances the financial and operating strength of the company.

However, only 81% believe APRA is effective at identifying risks across their industry. And a third of respondents think APRA collects too much statistical data.