BSBCOM603 Plan and Establish Compliance Management Systems Project

This project, completed for the International College of Melbourne (ICM) as part of the BSBCOM603 unit, focuses on planning and establishing compliance management systems for an organization. The project encompasses three assessment tasks: identifying organizational requirements for compliance, implementing and monitoring the system, and providing a comprehensive report. The student begins by developing a research plan, including research tasks, proposed methods, and survey tools to gather both qualitative and quantitative data on the organization's current compliance performance and requirements. The project then moves to the implementation phase, detailing the components of the compliance management system, personnel requirements, training needs, processes, and administrative aspects, culminating in an implementation plan. Finally, the project concludes with a report that includes an executive summary, details on system establishment, monitoring methodology, results analysis, and conclusions, along with a written questioning section. The project addresses internal, external, and industry-specific compliance requirements, identifies risks of non-compliance, and proposes ways to ensure ongoing adherence to regulations, offering a complete and practical approach to compliance management.

International College of Melbourne (ICM)
ASSESSMENT
STUDENT DETAILS
STUDENT NAME
STUDENT ID NO.
BATCH NO.
DATE OF SUBMISSION
ASSESSMENT DETAILS
UNIT CODE BSBCOM603
UNIT NAME/TITLE Plan and establish compliance management systems
ASSESSMENT TASK NO 1, 2, & 3
ASSESSMENT NAME/TITLE
1. Project – Identify organizational requirements for
compliance
2. Project presentation – Implementation monitoring
3. Report and questions – Establish, monitor and
QUALIFICATION Advance Diploma of Leadership and Management
ASSESSOR DETAILS
ASSESSOR NAME

Assessment - BSBCOM603 Plan and establish compliance management systems
Table of Contents
1. Introduction.........................................................................................................................4
2. Assessment Task 1..............................................................................................................4
2.1 Research plan....................................................................................................................4
a. Research Tasks................................................................................................................4
b. Proposed research methods.............................................................................................4
2.2 Survey tool........................................................................................................................5
2.3 Organisational data on compliance performance.............................................................5
2.4 Compliance requirements............................................................................................6
a. Internal compliance requirements...............................................................................6
b. External compliance requirements..............................................................................6
c. Industry-specific compliance requirements.................................................................6
2.5 Research...........................................................................................................................7
a. Areas of the organisation most affected by the compliance requirements..................7
b. Organisational compliance data..................................................................................7
c. Risks involved for non-compliance with requirements...............................................7
d. Penalties for breaching compliance requirements.......................................................7
e. Ways of ensuring ongoing compliance with the requirements...................................8
2.6 Review compliance management system.........................................................................8
a. Identify available options for a compliance management system...............................8
b. Compare the identified compliance management options...........................................8
c. Recommendation on system components.......................................................................8
2.7 Summary report................................................................................................................8
2.8 Reflection.......................................................................................................................10
a. Type of research undertaken.....................................................................................10
b. Development of the research plan.............................................................................11
c. Development of survey tools to collect required data to select compliance.............11
d. Analysis of qualitative and quantitative data.............................................................11
3. Assessment Task 2 – Project............................................................................................12
3.1 COMPLIANCE MANAGEMENT SYSTEM...............................................................12
a. Management information system requirements............................................................12
b. Components of the compliance management system................................................12
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Assessment - BSBCOM603 Plan and establish compliance management systems
c. Document the specifications of each component......................................................12
3.2 PERSONNEL.................................................................................................................12
a. Personnel requirements for staffing..............................................................................12
b. Suitable personnel.........................................................................................................12
c. Key responsibilities to each position.........................................................................12
3.3 TRAINING.....................................................................................................................13
a. Training requirements for implementing the proposed compliance management system
..........................................................................................................................................13
b. Suitable training options for staff.................................................................................13
3.4 PROCESSES..................................................................................................................13
a. Complaints management system...................................................................................13
b. Strategy for developing a compliance management culture.........................................13
c. Processes and procedures for identifying and managing compliance breaches............13
d. Processes and procedures for meeting compliance reporting requirements..............13
e. Processes and procedures for internal and external liaison processes.......................14
d. Performance indicators to be measured.....................................................................14
3.5 ADMINISTRATION.....................................................................................................15
a. Budget required to resource implementation................................................................15
b. Action schedule outlining target milestones..............................................................15
3.6 Implementation plan – please clarify what needs to be included here...........................16
4. Assessment Task 3 – Report.............................................................................................17
4.1 Part A - Report................................................................................................................17
Executive Summary..........................................................................................................17
Establishment of System...................................................................................................18
Monitoring Methodology..................................................................................................18
Results and Analysis.........................................................................................................18
Conclusion........................................................................................................................19
4.2 Part B – Written Questioning.........................................................................................20
References................................................................................................................................24
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Assessment - BSBCOM603 Plan and establish compliance management systems
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Assessment - BSBCOM603 Plan and establish compliance management systems
1. Introduction
Charity-Care organisation is a not-for profit and based in Brisbane. It is a public company,
limited by guarantee under the Corporations Act 2001. It has also been registered under the
Queensland Collections Act 1966. With the rapid growth of the organisation, its compliance
systems have not been developed and there have been found issues associated with the last
audit undertaken. The current analysis includes undertaking a research such that an
appropriate compliance system can be developed and undertaken.
2. Assessment Task 1
2.1 Research plan
a. Research Tasks
In order to conduct research for development of a compliance system, there needs to be
several research tasks undertaken. The research tasks undertaken for the development of a
compliance system needs to include conducting a thorough analysis of the several challenges
faced in the current compliance system of the several departments of the organisation. The
research task will primarily encompass evaluation of the effectiveness, feasibility, cost
efficiency and suitability to organisation culture to recommend an appropriate compliance
management system.
b. Proposed research methods
In order to conduct research for the current organisation, there will need to be adopted
appropriate methods for conducting the research. The study will need to encompass survey
tools for the purpose of gathering data from the various department of the organisation. The
survey tool with collect qualitative as well as quantitative information in regards to
organisational compliance performance for each of its department. Quantitative data will
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Assessment - BSBCOM603 Plan and establish compliance management systems
include figures related to such compliance performance and qualitative data will include
compliance culture that is existing.
2.2 Survey tool
The survey tool for the purpose of capturing organisational data and information will consists
of a detailed questionnaire. Managers and other employees will be asked to fill out the
questionnaire for filling out the qualitative and quantitative information. The survey tool for
the purpose of the organisation is as given below;
1. What is your current role in the company?
2. How many years have you been employed with the current company?
3. What is the current compliance performance standards in your department?
4. What do you feel are the gaps existing in current compliance system performance?
5. Is the current compliance system matching up with the organisation culture?
2.3 Organisational data on compliance performance
Organisational data on compliance performance on the Charity-Care case study, the auditing
data reveals the details. The banking of repair payments of customers disagreeing with the
total receipts being issued. There was cheque disagreement implying non-compliance paid to
“Cheap Computer “R” Us” with no evidence of its receipt. There were multiple other non-
compliance related issues with the finance department.
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Assessment - BSBCOM603 Plan and establish compliance management systems
2.4 Compliance requirements
a. Internal compliance requirements
The organisation needs to implement its compliance requirement in each and every
department. Hence the internal compliance requirements as described by the organisational
policy and procedure documents. Some of the policies internal to the company includes risk
management policy, credit card policy, sexual harassment policy, expenses reimbursement
policy, expense policy, financial handling policy, work health and safety policy and equal
employment opportunity policy. All these policies along with the procedures are developed in
line with the current Acts, tax laws and tender agreements. As in work health and safety
policy, the internal compliance requirement has to include incident rate, location of the
incident or hazard,, name of the person submitting the report, description of the incident or
hazard, witnesses, persons involved, injuries sustained, actions taken to minimise hazards or
reduce risks post-incident and so on.
b. External compliance requirements
As per the external compliance requirements, the organisation being based in Brisbane and
being a public company, it is limited by guarantee under the Corporations Act 2001. It also
needs to adhere by the Queensland Collection Act 1966. The organisation also needs to
follow the state and territory regulatory bodies along with other statutory requirements as per
the Australian standards for compliance, risk management and records management.
c. Industry-specific compliance requirements.
The organisation needs to adhere by industry-specific compliance requirements as well. The
organisation needs to abide by any specific regulations as specified by the industry and also
abide by competition law and any other specific laws.
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Assessment - BSBCOM603 Plan and establish compliance management systems
2.5 Research
a. Areas of the organisation most affected by the compliance requirements
Post researching through the various the various policies of the organisation, the most
affected areas by compliance requirements are issues with the Charity-Care computer spare
parts that are purchased from Compute-IT, which is owned by the warehouse manager’s
family. Secondly, audit revealed issues with the banking of the repair system where there was
disagreement with the total receipts issues. Hence going through these various errors revealed
that the major issue faced from the compliance systems is in the financial areas of the
organisation.
b. Organisational compliance data
Analysis and research into the organisational compliance data revealed existence of several
types of financial frauds within the organisation. Such as banking repair payments not
agreeing with the total receipts being issues. There were accuracy related errors in stocktakes
in the computer retail store. There were no existing accident rates revealed in the auditing
figures or training numbers or customer complaints. But there have been notifications from
the ATO regarding late lodgement of taxes and monthly BAS returns.
c. Risks involved for non-compliance with requirements
There is significant amount of auditing risks that are involved with non-compliance with the
requirements. The organisation will then eventually fail to meet up to the legislative and
statutory or industry compliance systems as implemented in the current state or territory.
d. Penalties for breaching compliance requirements
The organisation needs to implement certain penalties in case any department breaches its
compliance requirements. Especially in regards to financial compliance, the organisation
needs to strictly adhere to the compliance requirements as stated.
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Assessment - BSBCOM603 Plan and establish compliance management systems
e. Ways of ensuring ongoing compliance with the requirements
In order that the organisation is able to ensure ongoing compliance with the existing
requirements, it needs to review the audit report and fill in the gaps existing with the current
compliance system. In case of any gaps in financial or any other departments of compliance
system then such gaps need to be filled out by development or inclusion of new system of
compliance.
2.6 Review compliance management system
a. Identify available options for a compliance management system
The options for a compliance management system for all the identified compliance
requirements includes catering to the legislative and statutory requirements. The organisation
needs to develop a compliance management system that meets the needs of legislative and
statutory bodies as stated by the state and territory.
b. Compare the identified compliance management options
The compliance management options against other criteria’s will be effective in meeting the
legislative and statutory needs as stated by the state and territories. Such a compliance
management will be updated from time to time such that it can meet the daily needs of the
organisation.
c. Recommendation on system components
Recommendation on system components includes developing and adapting an appropriate
compliance management system. Such system needs to be developed on the basis of existing
legal and statutory requirements as stated in the state and territory.
2.7 Summary report
The organization must meet compliance requirements in each department. Therefore, the
internal compliance requirements described in the organization's policies and procedures have
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Assessment - BSBCOM603 Plan and establish compliance management systems
to be met. All these principles and procedures are based on existing legislation, tax laws and
tender contracts. As in the case of health and safety guidelines, internal requirements should
include accident rate, accident rate or spree of danger, names of reporting persons,
description of events or hazards, witnesses, persons, injury-related measures with a view to
minimise risks after accidents or reduce risk.
The Brisbane-based organisation is a public company covered by the Companies Act 2001.
The 1966 Collections Act must also comply with it. Organisations must also meet additional
regulatory requirements within state and territorial regulators and Australian standards for
compliance, risk management and documentation.
The organization must also meet industry compliance requirements. Organizations must
comply with all specific industrial rules and comply with competition laws and other specific
laws.
After studying the organization's various policies, the area most affected by compliance
requirements is the issue of calculating spare parts for a charity purchased by an IT computer
that is purchased by a home camp manager.
Analysis and analysis of organization compliance data show that there are different types of
financial machinations in the organization. Like bank corrections, it is not compatible with
the total bill of accounts issued. An error occurred in the inventory accuracy of the computer
vendor. The incident factor is not displayed in the test number, training number, or customer
complaint. However, there are already announcements by the ATO about deferred tax returns
and monthly returns of dietary supplements.
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Assessment - BSBCOM603 Plan and establish compliance management systems
Breaches involve a significant risk of auditing. Ultimately, companies will not comply with
legal, legal or industrial standards for compliance with systems that are implemented in their
current state or territory.
If the department does not meet its requirements, the organization must impose certain
penalties. Especially if a company meets financial standards, it must strictly comply with the
requirements. To ensure that your organization continues to meet existing requirements, you
need to review the audit reports and fill in the gaps in the current compliance system. If there
are vulnerabilities in the financial system or any other part of the compliance system, they
need to be addressed by developing or integrating new compliance systems.
For all compliance requirements identified, compliance management options include
compliance. The organisation must establish a compliance management system that meets the
needs of legal and regulatory authorities established by states and territories.
Recommendations for system components include the development and adaptation of
appropriate compliance management systems. This system should be developed in
accordance with existing laws and laws of states and territories.
2.8 Reflection
a. Type of research undertaken
The research undertaken is a secondary research. The researcher has collected data from the
case study in order to arrive at the findings of the study. The case study furnished with
various details regarding the organisation which have been analysed to write the current
research.
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Assessment - BSBCOM603 Plan and establish compliance management systems
b. Development of the research plan
The research plan has been developed taking into consideration the several guidance’s that
has been received from the case study. With the several facts and figures supplied by the case
study, the research plan has been ascertained and developed.
c. Development of survey tools to collect required data to select compliance
The survey tool to collect the required data have been developed after researching through the
several types of survey tools that are available. Australia’s legal website where several laws
and legislations as well as statutory requirements are stated have been consulted for the
purpose of writing this report.
d. Analysis of qualitative and quantitative data
The qualitative and quantitative data obtained have been analysed as; qualitative data
analysed as qualitative analysis and quantitative data have been analysed by comparative
analysis using Ms Excel.
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