Application
This unit describes the skills and knowledge required to develop and implement strategies for managing compliance obligations for small businesses. The unit requires broad knowledge of regulatory and legislative requirements used when developing these strategies.
The unit applies to those establishing or operating 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.
Elements and Performance Criteria
1. Determine compliance obligations | 1.1 Research internal and external compliance requirements and relevant Australian and international standards 1.2 Research codes of practice and material that interprets obligations and legislative requirements 1.3 Apply research information to determine relevance to business operations, products and services 1.4 Document compliance requirements, risks and consequences of possible breaches applicable to own business |
2. Develop strategies to manage compliance requirements | 2.1 Draft compliance management framework, prioritising areas where breaches have critical implications for the business 2.2 Validate draft compliance management framework using external expertise and/or sources of advice according to workplace procedures 2.3 Allocate responsibilities for compliance functions according to compliance management framework and workplace procedures |
3. Implement and monitor compliance management strategies | 3.1 Select interval between cyclical compliance checks according to compliance management framework 3.2 Communicate compliance requirements to required people 3.3 Record timing and outcomes of compliance checks according to business requirements and workplace procedures 3.4 Take action to address non-compliances according to compliance management framework and confirm that non-compliances have been resolved |
4. Conduct improvement in compliance management | 4.1 Review outcomes of compliance checks to identify operational problems 4.2 Analyse non-compliances to determine modifications required 4.3 Update compliance management strategies based on information analysed 4.4 Communicate changes in compliance management strategies to relevant people |
Evidence of Performance
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:
develop, implement, and monitor the effectiveness of strategies for managing at least three different compliance requirements for a small business.
In the course of the above, the candidate must:
analyse small business operations to identify compliance requirements and their implications for the business
develop compliance strategies that address regulatory and legislative requirements.
Evidence of Knowledge
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:
Australian and international standards, legislation, regulations, industry and organisational codes of practice specific to small business described in performance evidence
external professional, industry based and government sources of advice and expertise
key features of compliance management strategies relevant to small business
methods for carrying out compliance checks and developing compliance strategies
key components of compliance management frameworks
workplace procedures for
accessing external expertise and advice
validating compliance management framework
allocating responsibilities for compliance functions within business
recording timing and outcomes of compliance checks.
Assessment Conditions
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:
Australian and international standards, laws, regulations, industry and organisational codes and standards relating to business described in performance evidence
business technology
workplace documentation 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.
Foundation Skills
Reading | Identifies, analyses and evaluates information to determine legislative and regulatory requirements, trends and outcomes |
Writing | Researches, plans and prepares documentation using format and language appropriate to context, organisational requirements and audience |
Oral communication | Presents information and seeks advice using language appropriate to audience Participates in discussions using listening and questioning to elicit advice and to clarify or confirm understanding |
Numeracy | Calculates numerical information relating to compliance obligations |
Self-management | Develops, monitors and modifies workplace procedures according to legislative requirements and organisational goals Selects and uses appropriate conventions and protocols when seeking and/or sharing information Uses systematic, analytical processes in setting goals, gathering relevant information, and identifying and evaluating options against agreed criteria |
Planning and organising | Plans, organises and implements work activities of self and others that ensure compliance with organisational policies and procedures, and legislative requirements |
Sectors
Business Competence – Entrepreneurship and Small Business