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BSBCOM603 Plan and establish

compliance management systems Presentation 1

Purpose of this presentation At the end of this session, you should know how to:  Identify the need for compliance.  Interpret compliance standards and

requirements.  Establish compliance culture.  Identify the compliance manager’s role.

Stages of compliance program development

Commitment Implementation Monitoring and measuring Continuous

improvement

Presenter
Presentation Notes
AS 3806-2006 Compliance Programs outlines 4 stages based on 12 principles for compliance: 1. Commit to obligations 2. Align with organisational strategy and objectives 3. Allocate resources 4. Endorse strategy 5. Identify obligations 6. Establish responsibilities 7. Provide training 8. Create culture 9. Establish controls 10. Measure performance 11. Demonstrate compliance 12. Continuously improve

Compliance standards  Compliance requirements:

 internal and external  accreditation guidelines  policies and procedures  legislation  codes of practice.

 Can also include voluntary compliance requirements such as environmental or community considerations.

Presenter
Presentation Notes
Organisation’s can source information on compliance obligations from a variety of organisations and publications such as Monitoring regulator’s websites Subscribing to mail lists and information services Becoming a member of professional groups Seeking advice from a legal advisor Attending industry forums

Compliance standards  Compliance must also incorporate Risk

management as outlined in:  Australian/New Zealand

Standard AS/NZS/ISO 31000:2009 Risk management – Principles and guidelines (formerly AS/NZS 4360:2004)

Risk assessment

Establishing the context

Risk identification

Risk analysis

Risk evaluation

Risk treatment

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Presenter
Presentation Notes
The steps of risk identification and analysis contribute significantly in compliance management. A organisation must be able to assess the risk presented to it by failure to comply with obligations and requirements. Risk analysis requires consideration of: How likely the risk is to occur The expected consequences of the risk occurring

Compliance standards  Compliance requirements are outlined in

legislation including:  Occupational Health and Safety  Privacy  Corporations Act  ASIC Act  The Fair Work Act.

Presenter
Presentation Notes
The Australian Securities and Investments Commission governs the operation of business and corporations by ensuring directors and office holders carry out their duties properly. They administer the: Corporations Act 2001 Australian Securities and Investments Commission Act 2001 www.asic.gov.au is a good source of information on company compliance requirements, particularly with regard to financial operations.

Compliance culture  Senior management is responsible for establishing a

culture where:

‘…the values, ethics and beliefs exist and interact with the organisation’s structures and control systems to produce behavioral norms that are conducive to compliance outcomes.’

Presenter
Presentation Notes
Compliance culture must be established by example – management must model the expected behaviour. �Expectations and standards must be communicated throughout the organisation so that everyone understands what is required. Priority must be placed on compliance by investing resource in the appropriate systems and training.

The compliance manager  The role of the compliance manager requires

significant technical and interpersonal skills:  research skills  communication

Presenter
Presentation Notes
Research process Problem identification Research design Data collection Analyse and interpret data Dissemination of results Communication Methods of communication: Presentation Written communication Reporting

The next step You should now be able to:  Identify the need for compliance.  Interpret compliance standards and

requirements.  Establish compliance culture.  Identify the compliance manager’s role.

  • Establish compliance culture
  • Purpose of this presentation
  • Stages of compliance �program development
  • Compliance standards
  • Compliance standards
  • Compliance standards
  • Compliance culture
  • The compliance manager
  • The next step