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TASK 14: Establishing Compliance Management Systems

   

Added on  2020-10-22

18 Pages4419 Words228 Views
Plan and establishcompliance managementsystems

TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................4TASK 1............................................................................................................................................41. COMPLIANCE REQUIREMENT.............................................................................................4A) Internal compliance requirement .........................................................................................4B) External compliance requirements........................................................................................5C) Industry compliance requirements.........................................................................................52. COMPLIANCE EFFECT ...........................................................................................................5A) Area effected .........................................................................................................................5B) Risks......................................................................................................................................5C) Penalties.................................................................................................................................5D) Risk Minimization ...............................................................................................................63. COMPLIANCE SYSTEM..........................................................................................................6A) Identification of available system and options.......................................................................6B) Comparing system in terms of :............................................................................................6C) Recommending system or procedure....................................................................................7TASK 2............................................................................................................................................7Compliance Management System...............................................................................................7a. Management information system:...........................................................................................7b &c Component of the compliance management system and documents of each specification.....................................................................................................................................................8Personnel.....................................................................................................................................8a. Personnel requirement.............................................................................................................8b. suitable personnel....................................................................................................................8c. key responsibility....................................................................................................................8Training.......................................................................................................................................9Process.........................................................................................................................................9Administration...........................................................................................................................11b. Target milestone....................................................................................................................11TASK 3............................................................................................................................................1

EXECUTIVE SUMMARY.............................................................................................................1ESTABLISHMENT OF SYSTEM .................................................................................................1MONITORING METHODOLOGY ...............................................................................................3Results and Analysis........................................................................................................................3CONCLUSION ...............................................................................................................................4REFERENCES................................................................................................................................5

INTRODUCTION A Compliance management system is basically an integrated system which consist ofwritten documents, functions, procedures, controls and tools which supports an enterprise incomplying with legal requirements. It also aids an organization in reducing the harm due toviolations of law. Compliance management system can also be considered to as formal systemwhich assist an enterprise in maintaining the compliance in all areas of operations. Thecompliance system emphasizes on upholding policies as well as provisions which prevents thefirms as well as employees from breaking the legislation as well as regulations.The report will have focus on identifying the compliance requirement by charitableorganization in Australia. Study also have focus on addressing the laws which are required to befollowed by charitable firm in context of charity care organization. It is basically a public sectororganization which is located in Brisbane. Study will also highlight the effect of the differentlegislation on charity business.TASK 11. COMPLIANCE REQUIREMENTA) Internal compliance requirement The charity care organization is required to develop the charity compliance program , asit will assist them in reducing the risk of legal obligations. There are different types of compliance required which are to be considered by management incharity care firm. The different types of compliance requirement are internal as well as external,accreditation guidelines, policies or procedures, legislation and codes of practices. The lawswhich are required to be followed (Williamson, Luke and Furneaux, 2018. ). According to the Australian Charities and Not-for-profits Commission Act 2012, It isvery much essential for charitable organization those who are registered with ACNC to keepproper record of financial transaction. In addition to this, charity organization are also required tokeep the operational record for at least seven years. As per the privacy act, 1988 charity careorganization is required to take proper actions for destroying the information which is no longerrequired.

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