Monitoring Practice Systems: Conforming to Laws and Regulations

This report discusses the establishment, supervision, and monitoring of practice systems to ensure compliance with legislation and regulations. It covers various aspects, including corporate compliance, auditing (both internal and external), stakeholder engagement, and professional development. The report addresses questions related to legislation, regulations, and codes of practice, emphasizing the importance of adhering to these standards in the provision of services. Risk management, action planning, and the differences between ISO standards are also explored. Furthermore, the report delves into licensing requirements, trust account management, and continuous improvement processes to maintain compliance within an organization.

Establish, supervise and
monitor practice systems to
conform with legislation and
regulations

Table of Contents
INTRODUCTION ..........................................................................................................................5
TASK...............................................................................................................................................5
W1Does this mean we don’t have to worry about compliance as long as we are a member of
our organising body that is they will look after everything for us. ............................................5
b-Explain this concept, and include the difference between external and internal auditing and
the roles of external and internal auditors (compliance personnel)............................................6
W2: Who would be any external stakeholders?..........................................................................6
W3 What is the name of the topic and which organization is presenting it? .............................7
What material will be presented or covered in the course? ........................................................8
When and where is the seminar occurring? ...............................................................................8
Who would it be of interest to? ..................................................................................................8
How much does it cost? .............................................................................................................8
Does it count towards professional development hours required by the body? -......................9
Why would staff training help employees and employers?........................................................9
W4: Go to representative organisation’s website and find out the codes of practice, benefits
and requirements of membership..............................................................................................10
W5: Analyse the first two examples above (described on the previous page), using the 3-step
process to identify your need for professional development....................................................11
W6 You will need to apply for a licence if you wish to operate and run your own
Conveyancing business. ...........................................................................................................12
Who do you apply to for a licence in your state ......................................................................12
What are the possible ramifications if you do not comply with those requirements? -............12
Is there a ’points’ scale/system that operates in your state?......................................................12
W7: Visit the Government privacy website for more information on privacy regulation in
respect to private sector business..............................................................................................13
W8 Most organizations will have a policies and procedure for requisitions and budgets. How
does your organization comply with this?................................................................................14
W9 How is the budget set at your organization and what is the process for establishing the
budget and its implemention?...................................................................................................14

1 What is the current code of practice for your organisation....................................................15
b where can you find the current legislation and regulations and code of practice?.................15
2 Find the details, entry requirements, costs etc for your representative body/s and include
them with your submission. Do you need to be a member of a particular representative body
as part of your licensing requirements?....................................................................................15
3 Who oversees the compliance requirements and regulations for your organisation? Is there a
points system or process in place if you or your organisation is found to be non compliant?. 15
4 You were asked earlier to identify any external stakeholders, how are they consulted and
communicated with?.................................................................................................................15
5 Your organisation will more than likely have some form of CPD, how do you maintain your
CPD?.........................................................................................................................................15
b What are the CPD requirements for your industry?...............................................................16
6 What tools or techniques does your organisation use to evaluate risks? How would you
research risk in your organisation? Give an example of how you would use one of those
tools/techniques.........................................................................................................................16
8 Develop and attach an action plan for implementing the risk treatment for q5 and 6 –
including the monitoring process..............................................................................................16
9 After developing your action plan (q8) where would it be stored, who would have access to
it, and how could it be retrieved/reviewed? .............................................................................17
b How would you communicate the plan, the process, and its success or failure to the relevant
parties? .....................................................................................................................................17
c What documentation and records do you think you will need to maintain and file before,
during and after the action plan is implemented?.....................................................................17
10 What is the difference between the new ISO13000 and AS/NZS 4360:2004?....................17
11 If there was a change in legislation regarding compliance of any sort................................17
a how will you find out about it ...............................................................................................17
b what is the process for implementing any legislation changes at your workplace ...............17
c how is the information communicated to you .......................................................................17
d do you have a network of professionals you can engage with- if so make a list of them, if
not how would you create a networking group?.......................................................................18

12 In Conveyancing if you wish to operate your own business you will need a licence. What
are the licencing requirements in your state and what is the difference between a ‘licencee’
and an ‘authorised representative’?...........................................................................................18
13 Some professions require that you run a trust account, and this can be required of
conveyancers. a How does your organisation ensure budgets and requisition procedures are
met? ..........................................................................................................................................18
b How does your organisation confirm that legislative requirements have been met regarding
your client’s accounts and trust accounts? ...............................................................................18
c is there, and should there be, a designated person who is responsible for your accounts and
trust account? ...........................................................................................................................18
d Is there any specific training or CPD that the responsible person requires?..........................19
14 How does your organisation ensure that all legislative and regulatory functions : -are
current and -are being met?.......................................................................................................19
15 Give a detailed explanation of GAP learning and how this may relate to KPI’s.................19
CONCLUSION .............................................................................................................................19
REFERENCES..............................................................................................................................21

INTRODUCTION
Laws are those aspect which helps an society in becoming better place to live. It covers
different kinds of elements present existing within society. Further law acts as those set of rules
making disciplic and order upon various patterns exiting in society. Also these laws is covered
within various subjects that helps in making crime and wrong identified. Laws contain various
kinds of legislation which makes proper framework developed making an organization
accomplish goals and objectives set by an organization. In law punishment and fine is been
written which makes affect of law created upon society. Scope of laws are wider in nature as
they directly impacts business organizations working. Nature is dynamic which makes
organization operate in more effective manner. In this file things related to establishment,
management and monitoring practices is been discussed over making conformation related to
various rules and regulations that has to be used. Regarding this questions is been asked which
covers different elements involved within legislation, regulations and codes of practice to be
complied with in provision of services by the practice or business. In the end of the file
compliance requirement is discussed with various questions.
TASK
W1Does this mean we don’t have to worry about compliance as long as we are a member of our
organising body that is they will look after everything for us.
Corporate compliance means that ability which leads over developing ability that lead
large group of people achieving various standards through conduct. In order to attain these
compliance individual within a group is required to obey certain rules(Alam and et. al., 2021).
These rules helps in attaining corporate compliance in more effective manner. Such compliance
is covered within corporate governance. Both governance and compliance includes those rules of
conduct and control on behaviour which is been presented by an organization. In relation to
corporate governance and corporate compliance both acts as those elements that helps in forming
of legislations, contracts, industry standards or other policies which makes an organization attain
better business environment. The legislation that is been used within it is Corporate Act 2001.
So, after studying the paragraph it can be observed that compliance is important for an
organization as long as an individual is working within a organization. As the code of followed

automatically leads over forming proper discipline and work within an organizations working
pattern.
b-Explain this concept, and include the difference between external and internal auditing and the
roles of external and internal auditors (compliance personnel)
The concept of auditing means collection of various documents which is used in order to
check the over all performance of an organization. Auditing laws are those laws that has been
helping an organization in examination of financial records and documents and other evidence
by a trained accountant. At which is been used within Australia for auditing is Auditor general
act 1997 which is formed over establishing of office of Auditor General for commonwealth that
helps in executing Auditor's general functions. Further the acts makes establishment of
Australian National Audit Office makes appointment over Independent Auditor to audit the
office. Such compliance is of internal and external auditors they have specific role to play within
auditing of organization. Role of both internal and external auditor is to make sure that relevant
and objective information is been generated for an information about organization. There are
several differences of internal and external auditor that has been given as follows:
 Internal auditors generally makes an company employee first party and external auditors
ad third party to the organization and its clients(Finder, 2021).
 Internal auditors generally requires to perform single comprehensive annual audit with
number of smaller focused internal audits throughout the year.
 Internal auditors generate requires over using management with external audit reports
which is prepared with the help of external entities. In this investors, clients, lenders, and
other stakeholders are included.
 Internal auditors can also serve as internal consultants. Whereas external auditors are
prohibited from providing attestation and consultative services to the same organization
W2: Who would be any external stakeholders?
Stakeholders these are those group of person which are within and outside the company
having an interest stake or entitlement over the firm that is been managed and controlled. The
concept of stakeholders is been used with 'corporate governance in various ways which is based
over politics and organisational management in general. This one of the most important part of
corporate governance it is been defined as those key groups who have relationships with a
particular company, or interests in how it performs. Companies shareholders includes

 within the company, the employees and shareholders
 external to the company, the suppliers and customers
 in terms of the business environment, any competitors
 more generally, regulators and other government agencies
W3 What is the name of the topic and which organization is presenting it?
The name of topic which is been presented by an organization is communication skills
which is part of personal development plan . So the topic to be presented is development of
communication skills and the organization presenting this topic is ABCD private LTD. (Guan,
2021)
What material will be presented or covered in the course?
In order to improvise communication skills things required is personal development plan,
tools used for improving communication skills or communication channels. Further material
which required is books and magazines which helps in understanding communication skill in
more effective manner.
When and where is the seminar occurring?
The seminar that is going to be conducted within the an hotel or hall as it helps in making
discussion more impactful which makes all aspects about organization covered in more effective
manners(Hertzfeld, 2021).
Who would it be of interest to?
Interests is to be shown by auditor manager, stakeholder, managers and leaders. Since
this helps in making organizational growth possible with its revenue generation. Also these
persons hold knowledge upon employment, company and contract laws which makes operating
of organization possible.
How much does it cost?
The costing is £400,000 and is been set by an organization.

Does it count towards professional development hours required by the body? -
Yes, this amounts to professional development as Personal Professional development
plan is been made which helps in making development over plan documents goals, required
skills and competency development over objective staff member is needed to be accomplished
over making support through continuous improvement and career development. The skill which
is required to be developed is communication skill it helps in making professional development
by conveying information in proper manner(Jiang and Guo, 2021).
Why would staff training help employees and employers?
Training is one of the most important part of employees professional life that help in
making an employee and employer relationship attain strength. Further training has enhanced
various aspects which lead over professional development.
Training and Development Enhance Employee Performance: This is helpful in
making an employee develop various factors which makes employees performance improved
through efficiency. According to this training and development leads over developing skills with
knowledge leading towards enhancing making employees develop new ideas to perform
particular tasks within the time limit specified. Training and development programs makes
employees attain command over different skills which is needed within the current role assigned
to them. Also it helps in introducing leadership skills and software knowledge that is needed in
future. These programs makes employees start trainees and progress over high level role.
Training and Development Boost Employee Productivity: Employee productivity is
been enhanced through training and development which make tasks assigned to them completed
in more effective manner.
Training and Development Help with Reducing Employee Turnover: This is helpful
in making employees achieve goals related to employees development and promotion(Kaplan
and Brown, 2021).
there a ’points’ scale/system
From the perspective of employer it is helpful in order to increase employees consistency
and makes better evaluation of performance done by them. Also employer develops good
communication with employees as chance of interaction with employees increases. Then an
employer is able to make development possible through enhancing human resource which makes
monitoring of employees working patter. Through this employer is able to assign task aper the

capability of employees. The process of staff training is been developed as per the employment
laws that is helpful in protecting rights and duties of employees with there personal information
to be maintained.
W4: Go to representative organisation’s website and find out the codes of practice, benefits and
requirements of membership
In order to make safety maintained within workplace with membership the code of
practice that is required for following is related to WHS. This stands for Work Health and Safety
required to be produced within an organization. Such codes helps in developing standards
making an employee's exploitation reduced. This has lead upon developing of an legislation that
is Work Health and Safety Act 2011 the aim of act is to protect employees from any kind of
health issues, risks at workplace is reduced which makes employees feel more satisfied at
working place(Kaya and Utku, 2021). This is been used by ABCD private Ltd.
W5: Analyse the first two examples above (described on the previous page), using the 3-step
process to identify your need for professional development.
Upon analysing the two examples it has been marked out that procedure and guidelines is
required to be made available over staff. Further to make professional development possible
there are three step process which is required to be followed that has been explained as follows:
 In order over making professional development possible analysis of present skill is
required to be presented which helps individual in enhancing career of an individual.
 Second step required to be followed is based upon making timeline formed in more
effective manner. This helps in leading over completing goals in more effective manner.
 Third step deals with identification of resources which helps in making professional
development attained while enhancing skills and knowledge over particular aspect(Lahiri,
2021).
These steps helps in making procedure and guidelines develop over helping in making
professional aspects achieved through enhancing professionalism. This helps in making
professional ethics maintained within an organization. Also through such development ethical
code of conduct is created which makes employees realized about the importance of professional
development.

W6 You will need to apply for a licence if you wish to operate and run your own Conveyancing
business.
Eligibility
Australian Legal Practitioners and incorporated legal practices can conduct conveyancing
work in accordance with the Legal Profession Act 2004. They are not required to hold a
conveyancer's licence.
To be eligible for a licence you must:
1. be covered by a minimum of $2 million professional indemnity insurance by the current
approved broker. For more information, view our Professional indemnity insurance page.
2. meet at least one requirement from each of the following experience and qualifications
sections below.
Experience
 Completed the equivalent of 12 months' full-time experience within the last five years,
carrying out conveyancing work under the supervision of either:
 an Australian legal practitioner who has a practising certificate that authorises
them to supervise legal practice by others, or
 a fully licensed conveyancer in Victoria.
 Successfully completed a recognised law degree and either:
 an approved practical legal training or corresponding requirements, or
 the equivalent of 12 months' full-time experience carrying out conveyancing work
under the supervision of an Australian legal practitioner who has a practising
certificate that authorises them to supervise legal practice by others.
Who do you apply to for a licence in your state
To get license State Bar Council is required to be approached with all the qualification
documents in order get the license for conveyancer. (Levi-Faur, Kariv-Teitelbaum and Medzini,
2021).
What are the possible ramifications if you do not comply with those requirements? -
If conveyance registration process is not followed in proper manner then in such case an
individual cannot start practice within courts. If he does so then can be arrested and send jail for

period of six months or one year. Also can be barred from taking part in any legal proceedings
further.
Is there a ’points’ scale/system that operates in your state?
Yes there is point scale system which operates within the state this makes eligible
candidates become Conveyancer. This is helpful in monitoring the quality of litigation which is
shown by an individual after becoming conveyancer.
W7: Visit the Government privacy website for more information on privacy regulation in respect
to private sector business.
Privacy Act 1988 is one of the most appropriate act that has been used in order to help
over maintaining privacy of employees. This act has provided various guidelines and rules that
made protection of integrity of employee. Also the act has been promoting privacy regarding
name, address, marital status and other important documents protected with the help of software
used by an organization. The act is been applied with Data Protection act making employees feel
safe regarding there private information or its usage. Both the acts has been playing important
role towards employees personal information protection.
W8 Most organizations will have a policies and procedure for requisitions and budgets. How
does your organization comply with this?
Budgeting is the process by which an organization is able to achieved organizational
goals and objectives which are based over financial needs of an organization. This makes an
organization achieve financial stability within an organization. It is helping business in achieving
its various aspects that has helped organization to procure resources, manage finances, collecting
needs information. For achieving more satisfaction income tax act is been applied that makes tax
managed in proper way(Nduka and Sechap, 2021).
W9 How is the budget set at your organization and what is the process for establishing the
budget and its implemention?
Budget is been formed within the organization with the help of planning and monitoring
about various aspects which is related to finances provided in an organization. Further
organization is required to seek into legislations regarding finances which make legal objectives
related to finance achieved in more effective manner. Also proper process is been followed for
making budge that has been explained as follows:

 Assess your financial resources. The first step is to calculate how much money you have
coming in each month. ...
 Determine your expenses. Next you need to determine how you spend your money by
reviewing your financial records. ...
 Set goals. ...
 Create a plan. ...
 Pay yourself first. ...
 Track your progress.
It is been applied with the help of Auditing Standards (AUS) as promulgated by CPA
Australia (former Australian Society of Certified. Also Practising Accountants and the Institute
of Chartered Accountants in Australia (ICAA). In this Financial Management act 1996 is been
used that helps in providing guidelines regarding budget formation (Negash, and et. al., 2021).
1 What is the current code of practice for your organisation
The current code of practices to be followed within conveyancing business is Victorian
Conveyancers Act 2006.
b where can you find the current legislation and regulations and code of practice?
It can be find over any government website which explains about these legislations that
has been passed.
2 Find the details, entry requirements, costs etc for your representative body/s and include them
with your submission. Do you need to be a member of a particular representative body as
part of your licensing requirements?
No, as per the legislation natural person having qualification or has degree in relation to
law can apply for license. Also act makes sure that license can be given to an law degree holder
only.(Popa and Glevitzky, 2021)
3 Who oversees the compliance requirements and regulations for your organisation? Is there a
points system or process in place if you or your organisation is found to be non compliant?
In order to make compliance requirements and regulations for an organization
compliance officer is hired to do so. This makes an organization work as per the legal framework
formed for it in country like Australia.