Record Keeping Framework for Infotel: Business Functions, Regulatory Requirements, and Risk Assessment

This article discusses the record keeping framework for Infotel, an online library for study material. It covers the various business functions and types of records maintained by Infotel, as well as the regulatory requirements it complies with. The article also includes a risk assessment of the company's record keeping practices.

BSBRKG601
Record Keeping Framework

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK ..............................................................................................................................................3
1. Prepare a list various business functions with types of records of Infotel..............................3
2. Identification of record-keeping requirements of all branches (Minimum two).....................5
3. Finding out regulatory requirements needed by each business functions...............................6
4. Presenting the connection between business functions record-keeping necessities and
regulatory requirements..............................................................................................................9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Record keeping is also known as the key tracking maintainance reporting of the
organizational areas that consist of all the services that are useful for the check-lists and manages
by the top management for the smooth running of the business. These fundamentals are
concerned with organizing and storing the data in concise, careful, electronically, officially and
particular system mannerism (Cosgrave and O'Dwyer, 2020). The Infotel company is also doing
this activity not only for the accounting purpose but also tracing for administrations, human
resource, customer handling, training & development and safety allotment services.
In this particular research, the validation of the various events with basic record-keeping
requirements that uses by the firm. The inclusion of the regulatory bodies with different
standards such as legislative, communitative & ethical, national & technical with respect of
impactful situation in the company. The formative assessment of the following reporting is being
collected through proper structure to obtain the accessability of the private limited. After
collectivity of the all the data, the analysis of risk occurrence should be checked out by vary
scenarios like summary, impactful status, level of the endangerment and controllability over
risks. These all things covered in this with the specific risk-assessment ratings.
TASK
1. Prepare a list various business functions with types of records of Infotel.
Business Functions are the excessive range of organization's processing activities to
ensure the job role, key requirements and influential policies by the concern for managing the
moving state and give benefits to the stakeholders & shareholders. These practicality vary from
firm-to-firm because of different scope of standards (Du Pisanie, 2020). Infotel Company also
focuses on the some of the specific functionalities which are as follows:
1. Customer Service: It defines the relationship between consumers and
corporations. It happens in overall scenario like before, during and after the selling out the
products. As Infotel is software based integrated consultation station so they also have to handle
documentation of the client's enquiry from product detailing to feedback. With the time changes,
updated technologies availability is more convenient for purchasers to fulfilling their needs in-
person or on chatting basis.

2. Financing & Accounting: It is related with monetary funds like general and
specific budgets, financial insights which reflects the organization exact position to establish the
stability in the market. Through changes in the technology, Infotel also maintain their regular
transactions of creditors & debtors on electronic base which gives more convenience. This
function helpful in tracking the tax recordings, invoicing & billing, pay-slabs and conducting
auditing etc.
3. Human Resources: Basically, it focuses on the workforce management such as
recruiting, screening, selecting, inducting, distributing of task-order, measuring
performances and give proper feedback to them (Eckert, 2019). As a software company,
Infotel is doing all these activities of collecting each day data on regular practicism at
online platform with easily understandable and managable personnel information.
4. Workplace Health & Safety: Every organization should keep required wellness
and security for the insiders as well outsiders for betterment of their employees. Infotel gives
rights to individuals for choosing the suitable task which will harmless & non-injurious and
could not affect their mental stage. They are also providing the consultant services for every kind
of harmful effects.
5. Payroll: Infotel organisation provides their employees a computerized pay-slip
for maintain the online records by keeping them in individual files and their personal system to
find the easy to reach way of tracing. It differentiates every person salary-slab in different
folders.
6. Learning & Development: With adaptation and grasp the new technalities, every
company should conducting the training & evolutionary procedure for learning new
techniques from various tools. Infotel also using Cloud-based swotting management
system for the improvement of their workforce knowledge, skills and talent (Haynes,
2017). And also drafting the real-time attendance of available candidates and check their
performing act.
7. Administration: Infotel official functional criteria activates all the incoming &
outgoing transactions of data and informative sight through mailing in local or inside area and
proper management of internal work auditings. This becomes helpful for the easy, suitable and
regulatory functionalities.

2. Identification of record-keeping requirements of all branches (Minimum two).
The necessities involved in this for all the departments mentioned are as follows:
1. Customer service: This includes conditioning of all demand & supply required
by the consumers to keep maintaining the records. Infotel involves following aspects in regards
with client's perspecrive:
A. Clear interactive session: The company played vital role in the marketplace which provides
incoming & outgoing services through effective and concise interaction for the fulfilment of
need of client's along with received valuable feedback (Head, 2019).
B. Maintainance of domestic area database: As Infotel, is based on localized network so that
they are establishing data-storing procedure in local platform to keep eye on every client's
enquiry.
2. Finance and Accounts: It defines to the financial knowledge, skills and other
laws related with the organization which gives exact position of the company. Infotel also using
this branch for performing such actions which are as follows:
A. Convenient Transactions Recording: being the software corporations, Infotel are using new
technologies for monetary transfer with various receicers and payers. And these all become very
easy to utilize and up-to-date workings.
B. Practical assessment of accounting fundamentals and regulations: The finance department
is using the accountancy criteria's and rules on regular practice. So they have gained practicality,
self-analysis and more learning on account area for better formation.
3. Human Resources: It refers to the simple manpower governance to determine
the general needs as well as the organization's goals & objective. Infotel also intent to do some
beneficiary data for the internal resources with are:
A. Expertise in HR functions: Every organization is using these functions for generating best
people inside the house (Hofman, 2021). Infotel is also doing the similar activities to import the
best individuals and manage them adequately with following all the disciplinery actions.
B. Proficiency in Softwares: The company is using such platform for keep tracking about the
actual position of the employees through regular practice in authorised segment provided to
insider.

4. Payroll & Administration: The remuneration, pay-offs and other facilities are
provided by the organization to each employees for fulfiling their desires in against completing
the work of the concern with proper administrative servicing. Infotel are also managing each
person's regular payments & further assignment by doing check-listing.
A. Managing Pay-slip information system: This corporation is using online platform
in remunerate paying-off to their employees and proper content of basic, HRA, PF, Gratuity and
other facilities. By this, they can manage sustainable salary-slab.
B. Inclusion of Personnel data: The firm may include whole info related with
particular individual to facilitate its personal record and no more confusion in delivery the
remuneration to each people with electronic medium.
5. Learning & Development: Infotel is using updated technologies every time for the
purpose of innovative ideas and services provided to outsiders (Jallai, 2020) . For this, they have
to give their employees proper training & improvement sessions to acknowledge the talents,
skills and abilities of gaining new things.
A. Keep tracing the attendies: The enterprise should take follow up for each working-
person whom attended all the learning sessions and have been recorded with the fully-furnished
attendance sheet to know about the delegated employees listings at the time of distributing job-
role.
B. Expert-training programs: The company should hire some other proficient person
to give all the expertise to the insiders of the company for improvisation in their existing
knowledge about the technical system.
3. Finding out regulatory requirements needed by each business functions.
A regulative necessity is a convention that government imposes on an organization
functionalities. These are inclusion of the employee & employer relation inside & outside the
firm with their consumers (Kennedy And et.al., 2018). These connects with some rules & laws of
conduct which are as follows:
1. Legislation & regulation in regards with Infotel: The company has relevance with
Australia country. So they followed up the legal action of Australian governance under
theKeeping Privacy Act, 1988. By compliance of this enactment, the company is promoting the

protection & secrecy of individuals personal information by giving them proper safety measures.
In acceptance of this law, the company is managing all the data-storation with the some private
element such as credit entry reporting instrumentation, taxation record and health & safety
measures.
2. Settlement of Standards within Infotel regards with business activity: The
company is using some standardization in their documentation with the purpose of ensuring the
safety, security, consistency and reliableness of the products, services and different usable
instruments in the organization (Miles and Day, 2018). It includes some of the mentioned
modular are as follows:
A. Community, social and ethical standards and Codes of Professional conduct: In
this functionality, the company should focus on the participation in societal & communitative
welfare within the morally formation of conduct in professionlism manner. This may include
some facilitation which are;
 Working environment should be more convenient and easily manageable for all people
working over there. This will helpful for societal norms.
 Conflicts of interests are high due to irrelavent initiations of rules but if the law is
conducting in well-mannered then the differences at job became less valuable and
organizational interest will become more important.
 Anti-bribery and corruption is very less in the company due to setting up by stricts &
ethical standards mediums of working. If there has been occurrence of bribe or corruptive
activity, they must be punished by the australian laws.
 Attendance & Punctuality refers to the conduction of regular practices in attendancy &
on timely workings. This helps in low burdening of task for other ones.
 General & sexual harrasment consist of free with unlawful & discriminative behaviour
in the firm. The vocal and physical harrasing other individuals are just unethical and
illegal which cannot be tolerated.
B. National & Technical Standards: The functions with voluntary documentation in
any nation are developed by self consideration. As per the Australian IEC standards
(International Electrotechnical Commision) which is established by their members for the
security of technicalities and nationally authorised data information. These rules are mandatory

to regulate because of private information recording and prohibition with the hacking system.
And the penalties are also conducting due to not compilation of ethical stand outs.
Some technologies have been using by Australian government which maintain the
secrecy, safety and security for the accessability of the recordings which are:
1. Artificial Intelligence: It is used for the collectivity, performing and solving
problems for the goal achievement and also potentiality to automatize the
repetitive tasks to improve productivity and allowablility of the new
opportunities.
2. Blockchain: It is a digital platform for reporting, verification and storing
transferable tactics. It is easy to recognize because there is no authority involved
in the software and fully safe.
3. Quantum computing: It has a emergence of advance techniques which provide
highly tactic facility which cannot come with the existing technology (Usman
and Yusuf, 2021). They have ability to cracking the codes and ability to conduct
problem solving & security that have end-to-end encryption.
3. Implications of legal liabilities on the principle areas of risk identified: In the
following case study, the risk assessment are being identified on some principle areas with
implied of legally binded possession are as follows:
A. Lack of records: Sometimes, the organisation are facing deficiency in recording
of data in the system due to irresponsility and irregulatory bodies of the legal department. But
advancement in techniques fallen up huge impact on the recording system because company
have maintained the advance tools for task-order and establishment of the proper recording. It
presents the code of professionalism conduction.
B. Lost and damaged records: The company has also occurs damaging of
recordings due to errors in existing softwares. This shows the data inhabitance for the
outsiders to maintain trust on them. But the company is using blockchain system which has
blockage of all the recordings even though related with damage files. This shows the technical
standards of the firm.
C. Imformation privacy & security: The advance technologies are useful for the
colateral part of the system which means extreme isolation & safety of all the information

with the uses of newly launched tools. It is involved in the ethical code of conduct to maintain
the trustworthiness of the consumers.
D. Access of data on outdated technologies: In this, the company has been using
the new as well as existing one techniques for record-keeping of all the data in the
organization. But sometimes it's either been safe or waste for the data-storation reporting.
Because the 'old is gold' phrase has been using now onwards also. This consist of social as
well as national attainment of standards.
4. Specification & structure of the record and evidence requirement:
According to the Fair work act 2009 stated that working person relations powering up
upon the governance of the nation. The main objective of this action is to measure the workplace
relations on giving them minimum standards with the legally binded framework.
The company is using the similar legislative required things for the distribution of job
role, tasks and further assessment in equal portion of amount (Wilhelm and Wilhelm, 2021) .
The requirements of this act are as follows which is:
1. They should be equivalent opportunistic related with workplace rights and
obligations.
2. They should have proper engagement in the organization as well as industrial
activities for everyone's opinion.
3. The people of the firm should be free from discrimination and unlawfulness.
4. The employees should not be in the pressure or under-influence by someone
rather than they have all the rights of choosing work by themselves.
4. Presenting the connection between business functions record-keeping necessities and
regulatory requirements.
Basis Business functions reporting
needs
Regulatory requirements
1. Maintainance of
domestic area
database
The customer-servicing of the
company is the eye-locking
scenarios in the overall local
The necessities of the firm is
to fulfill the community &
social needs, wants and

networking. desire.
2. Convenience
Transactions
The firm obtained the inflow &
outflow of the amount with the
online platform for the better
convenience and without
fraudulent activities.
This finance & accountancy
function has the connection
with the ethical valuation of
the standardization.
3. Expertise in HR
functions
The enterprises are consisting
the proper functioning of HR
roles because of the proper
maintainance of workforce in
the system (Zimmerman,
2019).
The human resource
functionality shows the code
of professionlism conduction
which is presenting actual
guidance of the figures.
4. Managing Pay-
slip information
system
The organization pay-roll
system should be considerable
of all things so that
identification of user can be
easily measured.
This payroll &
Administration function has
the relevance with the
Technical and code of
conduct standardization
which shows the no mistake
should be happen at the time
of payment system.
5. Expert-training
programmes
The concern is focused on the
outsourcement of training &
development programme to
developing extra-ordinary
skills.
The regulatory functions are
focused on the national
standards for the learning of
new softwares in every
updated time period.
5. Completion of risk assessment by using template.

RISK ASSESSMENT REGISTER
Risk Description Likelihood Potential Impact Potential Risk
Control
Consequences
Rating Level of risk
Priority Rating
(order to
implement)
For example:
There is a high
possibility that a
customer's fees and
charges will become the
subject of scrutiny
through the Right to
Information procedure
Possible
The situation may arise
in the next 12 months
If records are not able to
be produced with the
Right to Information Act
2009 the housing
authority will face
financial penalty
The failure to produce
documents will result
loss of stakeholder
confidence and public
reputation
Services would continue
but recordkeeping
practices would need
urgent and immediate
review and corrective
measures implemented
Procedure and written
instruction developed
immediately
Staff trained in their
responsibilities in both
recordkeeping and right
to information practices
Regular internal desk
audits to be scheduled
Medium
Consequences may be
managed by
implementing
recordkeeping controls
as suggested
Significant A number from 1 to X
1. Lack of Records Rare
The situation
might arise in
future.
It presents the
irregulatory and
irresponsibility of
workings showing
in the case.
By establishes the
lawful conduct
and proper
management,
things can be in
the controllability.
Low
The consequenses
rating is lesser
because it is not
surely say that it
will be happen.
Very-significant 8
2. Lost &
Damaged records
Possible
There has been
more chances of
having losses and
wastages of
information if not
stored properly.
It occurs the data
hacking and
insecurity of data
& information of
consumers may
arises.
By blockchaining
system, the data
cannot be damages
and be stored in
the software.
High
It is considering
the advance
software which
perform for the
betterment of
return-assessment.
Less-significant 7

3. Information
privacy & security
Possible The company's
data &
information has
been leaked by
unauthorised
personnel.
By maintaining
big data analytics,
company can
reduces the risk of
information
privacy &
security.
Medium
It is consider as
moderate because
the software may
maintained data
safely.
Significant 9
4. Access data
information on
outdated
technologies
Low possibility The Outdated
technologies may
arises some
conflict in doing
tasks.
By using advance
software, company
can reduce this
risk-assessment.
Medium Less-significant 8
CONCLUSION
It has been concluded from the report that the record keeping is an important part of the company. It maintains the privacy and ensures that
the private information is not disclosed to any unauthorised person. It is responsible for the collection, maintenance and disposal of the information
when needed. This report has identified the risks and the liabilities of the record management. It has been classified that the legislation used by the
Infotel Services are being followed and the need of those legislation's in the company. The standards imposed by the government and the
compilation of those set rule and regulations in the Infotel Services. The use of these standard policy and the legal requirement in running of the
business smoothly and efficiently.

REFERENCES
Books and Journals
Cosgrave, D. and O'Dwyer, M., 2020. Ethical standards and perceptions of CRM among millennial consumers. International Marketing Review.
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Eckert, S., 2019. Beyond legislation: reconsidering the locus of power in EU regulatory governance. The Theory and Practice of Legislation. 7(3).
pp.205-225.
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Legislative and Policy Responses (pp. 178-210). Routledge.
Head, R.C., 2019. Making archives in early modern Europe: proof, information, and political record-keeping, 1400–1700. Cambridge University
Press.
Hofman, D., 2021. Records, Information, and Data: Exploring the Role of Record-Keeping in an Information Culture. Journal of Education for
Library and Information Science. 62(2). pp.233-234.
Jallai, A.G., 2020. Ethical Standards for Tax Planning by Corporations. In Ethics and Taxation (pp. 207-231). Springer, Singapore.
Kennedy, H.P. And et.al., 2018. United States model midwifery legislation and regulation: development of a consensus document. Journal of
midwifery & women's health. 63(6). pp.652-659.
Miles, D. and Day, A., 2018. Record keeping. Federation Press.
Usman, H.S. and Yusuf, A.A., 2021. Legislation and legal frame work for sustainable edible insects use in Nigeria. International Journal of
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Wilhelm, K. and Wilhelm, L., 2021. Ethical Issues in Private Practice: A Phenomenological Investigation of Music Therapy Business
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Zimmerman, D.H., 2019. Record-keeping and the intake process in a public welfare agency. In On record (pp. 289-321). Routledge.