Elements and Performance Criteria
- Determine compliance obligations
- Conduct a search of information on internal and external compliance requirements using appropriate search resources, including relevant Australian and international standards
- Access codes of practice and material that interprets and explains obligations and legislative requirements
- Review information for relevance to own small business operations, products and services
- Identify business-specific compliance requirements, and risks and consequences of possible breaches
- Develop strategies to manage compliance requirements
- Design the proposed components of the planned compliance management framework, prioritising areas where breaches have critical implications for the business
- Seek and utilise external expertise or sources of advice
- Allocate responsibilities for compliance functions
- Access resources to implement the compliance strategies
- Implement and monitor compliance management strategies
- Decide on the interval between regular, cyclical compliance checks
- Communicate compliance requirements to relevant others
- Record timing and outcomes of compliance checks according to business requirements
- Identify instances of noncompliance from compliance checks
- Take action to address non-compliances
- Check non-compliances have been resolved
- Identify areas for improvement in compliance
- Review the outcomes of compliance checks and identify any operational problems
- Analyse any non-compliance to determine modifications required
- Access and analyse documentation relating to changes in compliance requirements
- Modify compliance management strategies based on information analysed
- Communicate any changes in compliance requirements to relevant others