Funding Contract Compliance and Audit Readiness.

Funding Contract Compliance and Audit Readiness.

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If your Registered Training Organisation (RTO) delivers training with access to government funding, ask yourself the following two important questions:

1) Is your RTO compliant with the requirements for each of its funding contract(s) ?
2) Is your RTO audit ready ?

With government funding for the VET Sector receiving recent significant media attention in relation to poor quality training providers, low completion rates and concerns around the practices of some RTOs using the VET Fee Help scheme, the time to check your RTOs contract compliance is now! [emaillocker id=6291]

See the following articles:

http://www.theaustralian.com.au/higher-education/audit-flagged-for-vfh/story-e6frgcjx-1227178735160
http://www.theage.com.au/victoria/concern-as-online-vet-course-completion-drops-enrolments-rise-20150116-12r4tx.html

Far too often RTOs reach out for help with compliance only days or weeks before they are due to receive an audit from the regulator or the relevant government department. This leaves little time to conduct an internal audit and even less time to take action on addressing any non-compliances. We see the best outcomes at audit when an RTO has a systematic approach to conducting regular internal audits across its entire operation.

With government funding contracts available across all states and territories it can be difficult for RTOs to keep up to date with the maze of compliance requirements, here are just a few examples of government funding that RTOs can now access across Australia:

VIC – Victorian Training Guarantee (VTG)
NSW – Smart and Skilled
SA – Skills for All
WA – Future Skills Fund
QLD – Certificate 3 Guarantee & User Choice
TAS – Skills Fund & User Choice
ACT – Skilled Capital, PSP & PPP
NT – User Choice & multiple state funding contracts
VET Fee Help
Industry Skills Fund

 

If your RTO is delivering training with access to government funding and wants to take a best practice approach to its management and operation,  you should be conducting an internal audit of your RTOs compliance in-line with the contractual requirements of each government funding contract at least every 12 months.

It is always best to take an holistic approach to conducting internal audits, whereby you systematically review your RTOs policies, procedures, business processes, records, student management system, student files and staff files. Following the audit you should identify any gaps, areas for improvement, strengths and non-compliances. Also, be sure to build an action plan to document any rectification work that may need to be carried out to achieve full compliance.

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Funding Contract Compliance and Audit Readiness.

Compliance with the New Standards for RTOs

The time to check your organisation’s compliance with the New Standards for RTOs 2015 is now.

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The New Standards for Registered Training Organisations (RTOs) 2015 have arrived. Have you given any thought to how your organisation will demonstrate compliance with the New Standards for RTOs? [emaillocker id=6291]

If your RTO is registered with ASQA or the TAC by now your RTO should have started to implement the new standards. For information about the ASQA’s arrangements for implementing the New Standards – CLICK HERE

If your RTO is still registered with the VRQA you should continue to ensure that your RTO remains compliant with the AQTF Standards for RTOs and the VRQA Guidelines, however it is expected that at some point in 2015 the VRQA may adopt the new Standards as we saw with TAC in Western Australia last year.

Either way the time to act is now! Is your RTO compliant with the New Standards for RTOs 2015?

Audit Express have played a significant role in the consultation process with both the Minister and the Department of Industry. Also in the stages of developing and reviewing the New Standards for RTOs 2015.

We have developed a unique set of tools and techniques to audit your RTOs compliance with the New Standards for RTOs 2015.

Call Audit Express today on 1300 73 55 41 to discuss your organisation’s compliance with the New Standards for RTOs 2015. [/emaillocker]