The Australian Prudential Regulation Authority (APRA) is an independent government agency responsible for overseeing financial institutions in Australia. Its main goal is to ensure the safety and stability of banks, credit unions, insurance companies, and superannuation funds. APRA works to protect the interests of depositors, policyholders, and superannuation members by promoting sound risk management practices. APRA sets standards and guidelines for financial institutions and conducts regular assessments to ensure compliance. It also plays a crucial role in maintaining public confidence in the financial system by monitoring the health of these institutions and taking action when necessary to prevent financial crises.