Assessor Resource

BSBESB305
Address compliance requirements for new business ventures

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to source advice and specialist services to assist in addressing business compliance relating to regulatory, taxation and insurance requirements.

The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

implement procedures to address at least two different compliance requirements for a business or new business venture.

In the course of the above, the candidate must:

identify, select and access sources of advice on compliance and risk minimisation procedures

identify regulatory, taxation and insurance compliance requirements, and risk minimisation needs.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

regulatory, taxation and insurance compliance information, and specialist advice and services in relation to operation of new business ventures, including:

industry codes of practice and standards

registration and licensing

work health and safety (WHS) requirements and responsibilities

required insurances

workplace procedures that support compliance of new business venture, including for:

selecting and accessing specialist advice and services

arranging business insurance cover

key components of compliance procedures:

following taxation and industrial relations principles

updating and maintaining legal documents

investigating areas of non-compliance

monitoring provision of products and/or services

taking corrective action where necessary.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

business technology, including internet access for research

legislation, regulations, codes of practice and standards relating to compliance requirements described in performance evidence

workplace procedures and resources relevant to performance evidence.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

implement procedures to address at least two different compliance requirements for a business or new business venture.

In the course of the above, the candidate must:

identify, select and access sources of advice on compliance and risk minimisation procedures

identify regulatory, taxation and insurance compliance requirements, and risk minimisation needs.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

regulatory, taxation and insurance compliance information, and specialist advice and services in relation to operation of new business ventures, including:

industry codes of practice and standards

registration and licensing

work health and safety (WHS) requirements and responsibilities

required insurances

workplace procedures that support compliance of new business venture, including for:

selecting and accessing specialist advice and services

arranging business insurance cover

key components of compliance procedures:

following taxation and industrial relations principles

updating and maintaining legal documents

investigating areas of non-compliance

monitoring provision of products and/or services

taking corrective action where necessary.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

business technology, including internet access for research

legislation, regulations, codes of practice and standards relating to compliance requirements described in performance evidence

workplace procedures and resources relevant to performance evidence.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Identify regulatory, taxation and insurance requirements relevant to new business venture 
Access information that assists in interpreting and explaining identified compliance requirements 
Research relationships between legislation, regulations, codes of practice, associated standards and accessed information to determine compliance requirements of the business venture 
Identify sources of specialist advice and services relevant to identified compliance requirements and business venture profile 
Select and access identified specialist advice and services according to business needs, available resources, and workplace procedures 
Clarify and confirm compliance requirements and their appropriateness for business, and risk minimisation needs with advisors 
Review and document advice and procedures 
Arrange insurance cover for the business according to business needs, available resources, and workplace procedures 
Implement compliance procedures according to specialist advice received 
Seek feedback on implemented compliance procedures from required personnel 

Forms

Assessment Cover Sheet

BSBESB305 - Address compliance requirements for new business ventures
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

BSBESB305 - Address compliance requirements for new business ventures

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: