BSBCOM603 Plan & Establish Compliance: Task 3 Review and Report

This report details the establishment, monitoring, and review of a compliance management system, focusing on the ANGAD Australian Institute of Technology's BSBCOM603 unit. It begins by outlining steps to implement the system, covering personnel requirements, training programs, and essential processes such as complaint management and compliance culture development. The report then presents methodologies for monitoring performance through tools like milestone matrices, direct supervision, and internal audits. Analysis of monitoring activities reveals specific training needs and areas requiring improvement. The conclusion offers recommendations for continuous improvement, emphasizing communication, regular audits, staff training, and clear delegation. The report includes a student checklist and a follow-up review section to track progress and ensure compliance.

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