BSBCOM603 Assessment1




BSBCOM603 Assessment1


Plan and establish Compliance management systems

Research Report



a. internal compliance requirements

Charity Care have strict internal requirements, which consist of forming a board of directors, conducting initial and annual director meetings, creating and updating bylaws, providing stock to shareholders and transcribing all stock transfers.

Charity Care but each is strongly advised to keep clear and updated records of business transactions as well as any relevant changes in operations or adjustments to standards. Document templates and compliance kits (which can contain sample bylaws or an operating agreement, stock certificates, seals and sample meeting minutes) can assist in organizing and fulfilling My internal compliance requirements.

Internal requirements are largely meant to ensure that Charity Care is being run with integrity and free of corruption or other corrupting elements. Some parts of the business, such as stock sales, will be governed by external compliance requirements as well.

The CEO went on to say that many policies are documented; however, there still remains some training and motivational issues in relation to implementing them appropriately.

Some of the policies include:

risk management policy

sexual harassment policy

credit card policy

expense reimbursement

financial handling policy

expenses policy

equal employment opportunity policy

● work health and safety policy.

b. external compliance requirements

All business owners in Australia have to register before commencing any business activities. As well as registering a business name, there are a variety of taxes that can impact on Charity Care’s business that Charity Care may be required to register for. These may include:

  • an Australian Business Number (ABN) Charity Care
  • the Goods and Services Tax (GST)
  • a Tax File Number (TFN)
  • Pay as you go (PAYG) withholding.
  • Licences

    The Australian Business Licence and Information Service (ABLIS) External Site can help take the guess work out the licences, permits and registrations needed to run Charity Care’s business. Charity Care can search the ABLIS to find government licences, permits, approvals, registrations, codes of practice, standards and guidelines Charity Care need to know about to meet Charity Care’s compliance responsibilities.

    The licence or permit Charity Care require may depend on the product or service Charity Care is selling. Charity Care will need to find out whether there’s a licensing requirement for Charity Care’s particular business, or Charity Care may face fines or other difficulties.


    BSBCOM603 Assessment1
    Last updated: Jan 2022

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    require may depend on the product or service Charity Care is selling. Charity Care will need to find out whether there’s a licensing requirement for Charity Care’s particular business, or Charity Care may face fines or other difficulties.

    c. industry compliance requirements.

  • Trade practices act
  • False advertising is sometimes called deceptive advertising. It is the use of false or misleading statements in advertising. Advertising has the potential to persuade people into buying products and / or services they might otherwise not purchase. In Australia the Trade Practices Act (TPA) came into being in 1974 as an act of Federal Parliament. False, deceptive and / or misleading advertising made by Australian businesses make them liable for prosecution under the TPA.

  • Privacy laws
  • The National Privacy Principles in the Commonwealth Privacy Act protect the personal information of consumers. Personal information passes through the public area for many reasons, but it is, nonetheless, private information and must not be harvested, handled or exploited by private enterprise. Each state and territory adapts these principles to fit into their own privacy policies and procedures.

    The National Privacy Principles cover many large and some small business in the private sector and all private health service providers. Coverage extends widely to schools, charities, direct marketing agencies, sports clubs, doctors, chemists, retailers, banks and insurance companies, just to name a few. The ten National Privacy Principles in the Federal Privacy Act set out rules for the way these organisations and small businesses must collect personal information, the quality of the information, how it is kept secure and how the information is then used or disclosed. Individuals can make a complaint if they think their information has been mishandled.

  • Codes of practices
  • Codes of practice are developed through consultation with representatives from government agencies, employers, industry contacts and special interest groups. Codes of practice should be followed unless there is an alternative course of action that achieves the same or better standards.


    a. areas affected

  • Human Resources
  • The human resources or personnel department is responsible for hiring employees and ensuring that they get the proper training to perform their jobs. Human-resources directors or managers have employees fill out proper paperwork, including W-4 and I-9 forms.

  • Marketing
  • Marketing professionals determine the products that their companies introduce to the marketplace, often using marketing research surveys to determine what consumers need and want. This helps Charity Care to better align its strategies. Marketing workers help to establish prices for products, based on manufacturing costs.

  • Customer Service
  • Customer-service representatives answer calls or in-person requests from customers. Some customers may want additional information about a product or service; others have problems related to the products they purchased. Customer-service managers train representatives on certain policies, such as handling refunds.

  • Accounting
  • Accounting professionals usually work in one of three areas: accounts receivable, accounts payable and payroll. Accounts-receivable specialists track the debts owed to Charity Care. For example, customers who purchase items on credit fall within the bailiwick of accounts-receivable employees. These professionals prepare and send invoices to apprise customers when payments are due.

    b. risks

    Some of the…


    BSBCOM603 Assessment1
    Last updated: Jan 2022

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