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TPA COMPLIANCE AUDITS
Is your Trade Practices Act compliance program effective?
An effective TPA compliance program is a preventative mechanism for minimising the risk of breaching the law. It makes staff, from entry level to senior management, aware of their obligations and the company’s obligations and responsibilities under the Trade Practices Act. An effective compliance program reduces corporate risk.
Compliance is a dynamic process and maintaining the compliance program is necessary to keep it relevant and effective. To ensure currency and appropriateness, all programs should be subject to a periodic audit.
Audits are more dependable when conducted by external experts in the field. The audits we conduct are comprehensive and may include interviews with staff members, examination of company policies and procedures and inspection of various documents and files. Our independence from your company helps to ensure an audit report free of corporate influence or bias.
A Trade Practice Act compliance audit can be a very cost effective, risk reduction mechanism.
Procedural Compliance Audit
Does your compliance program protect you from risk?
Procedural compliance programs consist of processes, policies, procedures, protocols and are managed by people. They should be available throughout the company in the form of a compliance procedure manual either in hard copy form or readily accessible from the company’s intranet.
Simply having the policies and procedures documented does not really constitute a compliance program. An essential part of an overall compliance program is a regular audit so that early interventions can be made to reduce the risk of non-compliance.
A procedural compliance audit should;
- Identify effective areas of the compliance program
- Identify areas of deficiency in the compliance program
- Provide recommendations for correcting deficiencies
- Be conducted by a person not involved with, or responsible for, compliance in the company
An audit report should not simply identify areas of deficiency; it should provide realistic recommendations for correcting the deficiencies. Recommendations contained in our audit reports are consistent in format with other operational guidelines and take into account the responsibilities of the individual managers within the client company.
We are experienced in conducting TPA compliance program audits and can conduct a cost effective compliance program audit for your company.
For more information contact:
Steve Moses on 0417 242 076 or
email
TPA Knowledge Audit
Do you need to know which staff have the required knowledge of the TPA?
Perhaps more importantly, you may need to know which staff do NOT have the required level of knowledge of the Trade Practices Act.
It is estimated that over 80% of the breaches of the Act are unintentional and occur through a lack of a working knowledge of the Act. Unintentional breaches of the Act are most likely to be committed by staff involved in selling or marketing. In most cases this is due to the pressure on them to achieve performance related objectives and most often occur ‘in the heat of the battle’.
A knowledge audit will quickly identify staff members who are at risk of committing unintentional breaches of the Act because of knowledge gaps.
Our knowledge audit is carried out independently with certainty and security. It is a web-based service that does not require anything other than the email address of the staff to be audited – we do the rest.
Staff are able to participate in the audit at any suitable time. We manage the audit, prompt staff that are slow in participating and provide you with a comprehensive report and recommendations at the conclusion of the audit. Based on the results of the audit, you will be able to accurately determine your training requirements.
We can conduct an inexpensive knowledge audit of your staff.
For more information contact:
Steve Moses on 0417 242 076 or
email