The Compliance Management System

Please read the following instructions:

The focus of the compliance management system should be on Commitment, implementation, monitoring and measuring and continuous improvement.

The questions of the survey tool should cover the following areas:

Senior management commitment

Compliance policies being endorsed/supported by management

Resources are allocated for the development and implementation

Compliance obligations and identified

Responsibilities for compliance outcomes is established

Training is provided to employees to enable them to fulfil compliance obligations.

Culture is created which supports compliance objectives

Controls are established to manage compliance obligations

Program performance is measured and monitored

Program is continually improved

Demonstration of compliance through documentation and practice.

Organisational requirements

○ a system for risk management according to AS/NZ ISO 31000:2009 risk management principals and guidelines

○ records management system according to AS ISO 15489:2004 Records management

○ guidelines for complaints handling as according to the AS ISO 10002:2006 Guidelines for complaints handling

suitable system components. For example:

○ asset management and security, including cash handling and fraud

○ legislative compliance in relation to tax, financial reporting, WH&S, privacy

○ recordkeeping specifically with regards to confidentiality of records

○ professional ethics

The standards which you can write about and follow:

AS 3806:2006 Compliance programmes

AS/NZ ISO 31000:2009 risk management principals and guidelines.

AS ISO 10002:2006 Guidelines for complaints handling

AS ISO 15489:2004 Records management


$ 60,000

It must include budget for research, and you must calculate your own wages in terms of time spent on researching. It will be calculated by multiplying your hourly wage rate with number of hours spent on research. Your hourly wage is $30 per hour.

Note: We cannot go over $ 60,000. Therefore, the option chosen must consider the set budget.

To formulate a proper budget, you’ll have to examine several factors, including:

  • Number of employees (including any potential new hires)
  • Complexity of your business
  • Inherent risk exposure
  • Time required for compliance activities, such as gathering and analyzing data, building reports, identifying risk exposure, reading the news, preparing for exams, etc.
  • Cost of necessary tools and resources
  • Cost of training
  • Monitoring and reporting procedures


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