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Once a forecast has been created using one of the documents above, these will need to be reviewed and signed off by a qualified accountant.
This crucial step in the new RTO audit process proves to ASQA that you have the financial capability to meet the startup and running costs of your new RTO.
To prove to the regulator that you do meet financial viability requirements, you will need to prepare your RTO business plan, a detailed financial forecast, and complete a financial viability assessment.
The Australian Skills Quality Authority (ASQA) has set an extensive list of rules and obligations that new RTOs must follow.
Compliance with the National Standards is vital to starting your own training organisation.
ASQA handles RTOs delivering courses in most states and territories, Australia-wide, online, and CRICOS courses that cater to international students.
The Victorian Registration & Qualifications Authority (VRQA) and the Training Accreditation Council (TAC) regulate RTOs operating locally in Victoria and Western Australia.
We have many years of experience in establishing RTO’s and managing their compliance requirements.
This has been achieved through setting up, owning and operating RTOs and working in regulatory (auditor and senior compliance management) roles for the Tasmanian Qualification Authority (TQA) and the Australian Skills Quality Authority (ASQA).
You should also be familiar with the National Standards, any other relevant standards, codes, or regulations that will apply to your new RTO.
ASQA is the major regulator for the VET industry and governs 90% of training providers in Australia.