Introduction
Imagine waking up one day to find that your RTO has been audited by ASQA (Australian Skills Quality Authority) and found to be non-compliant with their standards. What would you do?
The consequences of non-compliance with ASQA’s standards can be severe, including financial penalties, suspension, or even cancellation of registration.
That’s why it’s so important for RTOs to be aware of ASQA’s risk priorities for the 2023-24 financial year and to take steps to reduce their risk.
What is Risk Priorities
Risk priorities are the risks that an organisation has identified as being the most important to manage. These risks are typically prioritised based on their likelihood of occurring and their potential impact on the organisation.
Regulatory risk priorities are the risks that an organisation faces as a result of having to comply with laws and regulations. These risks can vary depending on the industry in which the organisation operates and the geographic location in which it is based.
Emerging risk priorities are the risks that are new or evolving, and that have the potential to have a significant impact on an organisation. These risks can be difficult to identify and manage, but it is important to do so in order to protect the organisation.
Regulatory risk priorities
The following are the regulatory risk priorities for 2023-24:
ASQA is concerned about the risk of students not being assessed fairly and accurately. RTOs can reduce this risk by using a variety of assessment methods, ensuring that assessors are qualified and experienced, and providing students with clear and timely feedback on their assessments.
- Student support
ASQA is concerned about the risk of students not receiving the support they need to complete their courses successfully. RTOs can reduce this risk by providing students with access to appropriate resources and support services, identifying and supporting students who are at risk of not completing their courses, and monitoring student satisfaction with the level of support that they receive.
- Financial management
ASQA is concerned about the risk of RTOs not managing their finances effectively. RTOs can reduce this risk by having a sound financial management plan in place, monitoring their financial performance regularly, and having a process in place for managing financial risks.
- Compliance with ASQA’s standards
ASQA is concerned about the risk of RTOs not complying with its standards. RTOs can reduce this risk by conducting regular self-assessments and implementing any necessary corrective actions.
- Governance and management
ASQA is concerned about the risk of RTOs not having robust governance and management systems in place. RTOs can reduce this risk by having a clear organisational structure, well-defined roles and responsibilities, and effective risk management processes.
Emerging risk priorities
The following are the emerging risk priorities for 2023-24:
- Student work placement
ASQA is concerned about the risk of students not being adequately prepared for work placement. RTOs can reduce this risk by ensuring that students have the necessary skills and knowledge before they commence work placement, and by providing them with appropriate support and supervision during their placement.
- Academic integrity
ASQA is concerned about the risk of academic misconduct, such as plagiarism and cheating. RTOs can reduce this risk by having a clear academic integrity policy in place, and by providing students with training on academic misconduct.
ASQA(Australian Skills Quality Authority) is concerned about the risk of online courses not being of high quality. Registered Training Organisations can reduce this risk by having robust quality assurance processes in place for their online courses.
- Shortened course duration
ASQA is concerned about the risk of shortened course durations not providing students with the necessary skills and knowledge. RTOs can reduce this risk by ensuring that their shortened courses are designed and delivered in a way that ensures that students achieve the required outcomes.
What can RTOs do to reduce their risk?
RTOs can reduce their risk of being audited by ASQA by taking the following steps:
- Ensure that your RTO is compliant with ASQA’s standards. This includes conducting regular self-assessments and implementing any necessary corrective actions.
- Focus on providing high-quality student support. This includes providing students with access to appropriate resources and support services, and ensuring that they are able to complete their courses successfully.
- Manage your finances effectively. This includes having a sound financial management plan in place and ensuring that your RTO is financially viable.
- Have robust governance and management systems in place. This includes having a clear organisational structure, well-defined roles and responsibilities, and effective risk management processes.
- Pay attention to the specific risk areas that ASQA has identified. For example, if you offer online courses, make sure that you have robust quality assurance processes in place.
Conclusion
Remember, ASQA (Australian Skills Quality Authority) is there to help RTOs provide high-quality VET and to protect the integrity of national qualifications. By working together, we can ensure that all students have the opportunity to succeed in the VET sector.
Are you an RTO looking for quality RTO training resources? If yes, then VET Resources is your partner. We also have a YouTube Channel with videos on RTO related matters. We also offer free consultation to RTOs. For further information please contact here.
Frequently Asked Questions (FAQs)
Q.1. What is a regulatory risk framework?
A.1. A regulatory risk framework is a system of policies, procedures, and practices that helps RTOs to identify, assess, and manage regulatory risks. The Australian Skills Quality Authority (ASQA) requires all RTOs to have a regulatory risk framework in place.
Q.2. How can RTOs implement effective risk management?
A.2. Effective risk management involves four key steps:
- Identifying and assessing risks: RTOs need to identify all of the risks that could impact their business, including regulatory risks. Once the risks have been identified, RTOs need to assess the likelihood and impact of each risk.
- Developing and implementing risk treatment plans: For each risk, RTOs need to develop and implement a risk treatment plan. This plan should outline the steps that will be taken to reduce the likelihood and impact of the risk.
- Monitoring and evaluating risk management processes: RTOs need to monitor and evaluate their risk management processes on a regular basis to ensure that they are effective.
- Communicating risk information: RTOs need to communicate risk information to their staff and stakeholders. This will help to ensure that everyone is aware of the risks and the steps that are being taken to manage them.
Q.3. What is the quality assurance role in the development of nationally endorsed training packages?
A.3. The quality assurance role is to ensure that the training packages meet the required standards, including alignment with the AQF, relevance to industry needs, and high quality.
Q.4. How does continuous quality improvement help to ensure the quality of nationally endorsed training packages?
A.4. Continuous quality improvement helps to ensure quality by gathering feedback, reviewing and updating training packages, and implementing new quality assurance processes.
Q.5. What is the difference between RTO risk management and management of risk?
A.5. RTO risk management is a specialised subset of management of risk that is focused on the risks faced by registered training organisations (RTOs).
In other words, RTO risk management is a more specific type of risk management that is tailored to the unique needs of RTOs.
Q.6. How does the VET quality framework help the national VET regulator to efficiently use resources?
A.6. The VET quality framework helps the national VET regulator to efficiently use resources by providing a clear set of standards, streamlining the regulatory process, and reducing the need for on-site audits.
In other words, the VET quality framework helps the regulator to focus its efforts on the areas where there is the greatest risk of non-compliance and to reduce the amount of time and resources spent on low-risk activities.
Suggested Read: Navigating the Maze of Compliance – A Comprehensive Guide for RTOs on Training Hours and Online Learning
Disclaimer:
The information presented on the VET Resources blog is for general guidance only. While we strive for accuracy, we cannot guarantee the completeness or timeliness of the information. VET Resources is not responsible for any errors or omissions, or for the results obtained from the use of this information. Always consult a professional for advice tailored to your circumstances.