Establish, Monitor and Review Plan

This report provides a comprehensive guide on how to establish, monitor and review a compliance management system. It covers topics such as personnel, training, processes and administration. It also discusses the importance of a complaints management system and provides a strategy for developing a compliance management culture. The report includes a checklist for training and a plan for establishing, monitoring and reviewing the compliance management system.

Assessment Task 3- Establish, monitor and review plan
Name of the Student
Name of the University
Author note

A
Table of Contents
EXECUTIVE SUMMARY........................................................................................................2
PERSONNEL..................................................................................................................... 3
PROCESSES..................................................................................................................... 4
A complaints management system.....................................................................................4
A strategy for developing a compliance management culture.............................................5
Processes and procedures for identifying and managing compliance breaches, including
integration with existing policies and procedures................................................................7
ADMINISTRATION............................................................................................................. 8

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EXECUTIVE SUMMARY
The report is aiming to achieve an objective to train assigned managers and
operations personnel. Moreover, the report will keep a record of external consultant
meeting with the managers and operations personnel involved in the implementation
process to monitor, review and establish the compliance management system.
First of all, to establish a compliance system, one has to consider certain steps
which need to be taken to implement the system. Elements like personnel, training,
processes and administration will be taken into account. Afterwards, this report will
describe the methods and approaches used to monitor performance of the system,
review and evaluate the implementation of the compliance management system,
analyse relevant qualitative data.
The report will present at last a student checklist for training/coaching table as well
as an established, monitor and review plan. There are expectations from the training
of trainees and how they perform are presented. Some staffs sill need further training
in terms of compliance.

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1. ESTABLISHMENT OF SYSTEM
Describe steps taken to implement the system.
1.2 PERSONNEL
 A team leader and at least one employee to work in a separate office with
adequate office equipment
 To establish arobust compliance system by learning all related external
legislations, industry regulations and company policy.
 Meet with all managers as well as all staffs to introduce about the system.
Name all the managers that are required to be trained
 To establish a thorough job description for their team staffs by meeting and
help compliance manager monitor the progress of implementation in different
departments.
1.2 TRAINING
Training should include all policy learnings listed as below:
o Taxation
o financial reporting
o WHS
o asset management and security
o cash handling – misappropriation of funds
o recordkeeping – confidentially of records
o fraud
o ethics
We will consider the following while determining the training needs:

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 Legislative requirements: requirement for workplace health and Safety for
training procedure, documentation and audit report presentation, employee
details and experience documentation,
 Industry requirements: Trading licensing and employment policies, customer
handling policies, vendor selection and negotiation policies, recruitment and
compensation polices,
 Current business requirement’s: Taxation clearance, business and trading
license, employment license, Business registration number
Two main categories that we can divide training into:
Formal: On job training, event based training
Informal: Verbal communication, reading books, recreational compliance practice
A strategy for developing a compliance management culture：
 Ongoing professional development for staff emphasising on organisation’s
commitment to compliance
 Clearly defining people who are responsible for the compliance programCreating
an awareness about reporting systems and processes
 Instilling knowledge and practice of required standard of conduct
 Establishing accountability and consequences of non-compliances
 Emphasising on the application of the program in relation to specific operating
environment
 Training staff on how the program will be maintained and monitored
1.3 PROCESSES
 A complaints management system
Following flowchart can be followed:

Filing complaints
Solution
and
Response
Registration of Complaints and
Suggestions
Detailed Review and
Information
Continual Improvement
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 A strategy for developing a compliance management culture
The major strategic focus for staffs in this organization is communication,
engagement and support in order to:
 Processes and procedures for identifying and managing compliance
breaches, including integration with existing policies and procedures
 Establish performance standards
 Describing consequences and like of compliance breaches

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 Development of KPIs –
.
 Monitoring and evaluation of performance
 Take corrective actions
 Processes and procedures for meeting compliance reporting requirements
Firstly, we should review the performance and outcome of the objectives. In this
case, the organization’s objective would be no breaches against laws or any
regulations prepare reports.
Then we have to prepare the reports. It should restate the objectives as above and
discuss the main findings from the internal and external audit. Moreover, it should
combine with the review from visits to both warehouse, retail store and head office.
The purpose of this report is to implement a compliance policy, the target
audience would be all stakeholders, and the recipients has to follow the
recommendations from this report to minimize the potential risks.
This report show different requirements for different audiences, it indicates the
main responsibility for CEO to develop the policies, for department managers
to set up job descriptions and assist compliance systems implementation, and
for staffs to learn and following the policies.
A standard report consists of five key sections:

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Title page
Introduction
The main body of the report should outline the key findings of my research,
including data collection techniques, findings of results, discussion and
explanation of my findings.
a conclusion
 Performance indicators to be measured by the system so that it can be
objectively evaluated.
 Individual compliance/non-compliance
 Training numbers
 Numbers of complaints
 Numbers of breaches
 Ratio of payroll errors/breaches to number of transactions

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ADMINISTRATION
 The budget required to resource implementation (including human
resources for developing, implementing, reviewing and maintaining the
proposed compliance management system)
Activity centres Amount
Development of Policy
Communication of policy
Compliance management
Compliance monitoring
Enforcement of compliance
Reviewing of Compliance
Total
 An action schedule outlining target milestones for all aspects of
implementation, including training, review and maintenance.
Administrative Milestones for Implementation
TASK
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Week 9
Week 10
1 Identify Compliance issue X X
2 Management support X X X
3 Manager appointed X X X X
4 Determine scope X X X X X
5 Roles established X X X X X

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6 Agreed objectives X X X X X X
7 Budget approved X X X X X X
8 Workplace audit X X X X X X X
9 Consultant/ Advisor X X X X X X X
10 Allocated resources X X X X X X X X
11 Communication Plan X X X X X X X X
12 Policy and procedures X X X X X X X X X
13 Feedback system X X X X X X X X X
14 Benchmarks established X X X X X X X X X X
Number of tasks due 0 1 2 2 2 1 2 2 1 1
1. MONITORING METHODOLOGY
Describe the methods and approaches used to monitor performance of the
system.
Tools that we can use are:
Milestone matrix
Direct supervision

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Checklists
Internal Audits
Staff and other stakeholder feedback
Administrative Milestones for Implementation
TASK
Week 1
1 Identify Compliance issue X X
2 Management support X X X
3 Manager appointed X X X X

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4 Determine scope X X X X X
5 Roles established X X X X X
6 Agreed objectives X X X X X X
7 Budget approved X X X X X X
8 Workplace audit X X X X X X X
9 Consultant/ Advisor X X X X X X X
10 Allocated resources X X X X X X X X
11 Communication Plan X X X X X X X X
12 Policy and procedures X X X X X X X X X
13 Feedback system X X X X X X X X X
14 Benchmarks established X X X X X X X X X X
Number of tasks due 0 1 2 2 2 1 2 2 1 1
2. RESULTS AND ANALYSIS
Staffs need further training
As per case study, identify the staff and areas that they need to be trained in
Results of analysis of monitoring activities through an internal audit are listed below:
Result of monitoring activities Training Needs
● The banking of the repair payments
from customers does not agree with
the total of the receipts issued.
Banking staff has to learn about
banking policy

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● There are accuracy errors with stock
takes in the computer retail store.
To gain stocking skill and learn
about stock taking/ inventory
policy.
● Some significant transactions are
being recorded in the wrong
accounting period according to accrual
accounting standards.
● Receipts of payments received still not
issued to customers.
● Policy and procedure still not followed
to count stock on retail stores.
Familiar with record keeping
policy.
They have to ensure all significant
transactions are being recorded in
the right accounting period.
● No contingency plan for a fire or any
other disaster.
● There are still no job descriptions for
staff working in the retail store.
To learn their job descriptions
thoroughly before they begin to
work.
Contingency plan and know how to
react once disaster happens.
● There is still no defined limit to lend to
in relation to rent loans for clients.
Lending is still done based on staff
judgement.
● Monthly financial reports are still not
being received from the satellite
operations on time which makes it
difficult to make accurate sales
projections and reconciliations.
● Cash is not being banked some days
but is stored in the store which is
against the policy.
● No professional development sessions
for bookkeeping staff have been
conducted for over a year.
● Bookkeeping is not done as per the
policies and procedures. It was found
that only accrual entries were being
done and not the end of the month
entries.
● Number of complaints from clients
were still increasing
Familiar with the financial handling
policy
All staffs should understand that their
performance will be evaluated yearly
All staffs should understand that
complaints
Audit findings revealed that there were still gaps in the following areas:

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Train / Coach the managers and operations personnel on required skills
Trainee name
Training / Coaching parameters
Required Skill 1 Required Skill
2 Required Skill 3 Required Skill 4 Required Skill
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Julie Jones &
Peggy White
Privacy policy
Complaint
handling
Be familiar
with job
description
Stop giving
advice on
behalf of
counsellors
Do banking
of the
donations
on time.
counsellors
Be familiar with
job description Learn
lending
policy
Stop lending
money based
on their
judgments
Always
complete the
rent loan
form
robustly.
Privacy
policy
Tom Brown
Be familiar with
job description Training
on the
computeri
sed payroll
system
Studying on
paperwork
regarding pay
rate changes.
Makes sure
all the
timesheets
for payment
are signed.
Complaints
handling
Jenny Aviel
Be familiar with
job description
Complaint
s handling
Runs the
checks on
both records
from centers.
Always keep
the accounts
on an accrual
basis by the
end of the
month.
Learn to
control
computeris
ed
accounting
system
Warehouse
staffs
Be familiar with
job description Complaint
s handling
Count the
stock takes
accurately
Lock the
room that
keeps
computers.
Collect
receipts all
the time.

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3. CONCLUSION
Discuss overall compliance, including specific problem components of the system
and success areas. Make specific recommendations for improvement with reference
to relevant standards.
 Continuous improvement
 Communication of policies and procedures
 Regular audits
 Staff training calendars to be maintained
 Clear delegation of duties and responsibilities
 Regular feedback from stakeholders

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FOLLOWUP AND REVIEW
Individuals Trained /
coached
Date
(Training/Coa
ching
conducted)
Expectations from trainees
(Student to list out expected outcomes)
Does
current
perform
ance
meet
expecta
tions
(Y/N)
Further training required in
the following area (s)
Julie Jones &
Peggy White
11/08/2015 Use password to log on
computers. Stop telling customers
private information to others and
giving advice on behalf of
counsellors.
Y Complaints handling
Counsellors 12/08/2015 Be familiar with lending policy and
lend money to customers under
limits. Stop lending money
customers based on their
judgments. Complete the loan
form thoroughly.
N Has to make sure all
loan form are filled in
completely.
Tom Brown 13/08/2015 Knows how to use computerised
payroll system; Know pay rate
changes; All timesheets for
payment are signed.
N Has to communicate to
other departments to
make sure all time
sheets for payment are
signed.
Jenny Aviel 13/08/2015 All complaints are handling well;
Runs the checks on both records
from centers; Always keep the
accounts on an accrual basis by
the end of the month; Know how
to control computerised
accounting system
N Still need to work on
keeping accounting
done on time.
Warehouse staffs 14/08/2015 All stock takes are counted
accurately; The room that keeps
computers are locked; Collect
receipts all the time.
N Still need to work on
counting the stocks
accurately on time.
Name of the Student: __________________________________

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Student’s Signature: ___________________________________
Date: _______________________________________________