Unit of competency Outline

Date retreived
22/07/2026 2:40 PM AWST

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Manage compliance for small business

Manage compliance for small business

Unit of competency
National Code
BSBSMB418
State Code
AWF72
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
14/01/2016
View on TGA
State Implementation and Classification
Approved Date
05/07/2016
Field of Education
080301 - Business Management
Original Release Date
05/07/2016
Nominal Hours
55
Description
This unit describes the skills and knowledge required to develop strategies for managing compliance obligations for small business.It applies to individuals who operate a small business and require a broad knowledge of regulatory and legislative requirements and who use this knowledge to develop compliance strategies.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Determine compliance obligations
  • 1.1 Conduct a search of information on internal and external compliance requirements using appropriate search resources, including relevant Australian and international standards
  • 1.2 Access codes of practice and material that interprets and explains obligations and legislative requirements
  • 1.3 Review information for relevance to own small business operations, products and services
  • 1.4 Identify business-specific compliance requirements, and risks and consequences of possible breaches
2. Develop strategies to manage compliance requirements
  • 2.1 Design the proposed components of the planned compliance management framework, prioritising areas where breaches have critical implications for the business
  • 2.2 Seek and utilise external expertise or sources of advice
  • 2.3 Allocate responsibilities for compliance functions
  • 2.4 Access resources to implement the compliance strategies
3. Implement and monitor compliance management strategies
  • 3.1 Decide on the interval between regular, cyclical compliance checks
  • 3.2 Communicate compliance requirements to relevant others
  • 3.3 Record timing and outcomes of compliance checks according to business requirements
  • 3.4 Identify instances of noncompliance from compliance checks
  • 3.5 Take action to address non-compliances
  • 3.6 Check non-compliances have been resolved
4. Identify areas for improvement in compliance
  • 4.1 Review the outcomes of compliance checks and identify any operational problems
  • 4.2 Analyse any non-compliance to determine modifications required
  • 4.3 Access and analyse documentation relating to changes in compliance requirements
  • 4.4 Modify compliance management strategies based on information analysed
  • 4.5 Communicate any changes in compliance requirements to relevant others
No information
No information
Replaced By
State Code National Code Title Type
OCG28 BSBESB405 Manage compliance for small businesses Unit of competency