Unit of competency details

BSBCOM501 - Identify and interpret compliance requirements (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBCOM501B - Identify and interpret compliance requirementsUpdated to meet Standards for Training Packages 24/Mar/2015


Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
TLI - Transport and Logistics Training PackageTransport and Logistics Training Package 1.0-3.1 
SIF - Funeral ServicesFuneral Services 2.1 
FNS - Financial Services Training PackageFinancial Services Training Package 1.0-2.1 
DEF - Defence Training PackageDefence Training Package 1.0-2.0 
CUA - Creative Arts and Culture Training PackageCreative Arts and Culture Training Package 2.0-3.0 
BSB - Business Services Training PackageBusiness Services Training Package 1.0-2.0 
AMP - Australian Meat Processing Training PackageAustralian Meat Processing Training Package 1.0-2.2 

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
TLI50515 - Diploma of Deployment LogisticsDiploma of Deployment Logistics 
TLI50415 - Diploma of LogisticsDiploma of Logistics 1-3 
TLI50215 - Diploma of Materiel LogisticsDiploma of Materiel Logistics 
TLI41515 - Certificate IV in Materiel LogisticsCertificate IV in Materiel Logistics 
SIF50113 - Diploma of Funeral Services ManagementDiploma of Funeral Services Management 
FNS60815 - Advanced Diploma of Integrated Risk ManagementAdvanced Diploma of Integrated Risk Management 1-2 
FNS52015 - Diploma of Personal TrustsDiploma of Personal Trusts 
FNS51815 - Diploma of Financial ServicesDiploma of Financial Services 1-3 
FNS50815 - Diploma of Integrated Risk ManagementDiploma of Integrated Risk Management 1-2 
FNS41115 - Certificate IV in Financial Markets OperationsCertificate IV in Financial Markets Operations 1-2 
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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 091103 Legal Studies  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 091103 Legal Studies  30/Jul/2015 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Application

This unit describes the skills and knowledge required to identify and interpret the range of internal and external compliance requirements and obligations that must be fulfilled by an organisation.

It applies to individuals who use their sound theoretical knowledge of compliance and skills in identifying compliance requirements to plan, carry out and evaluate their own work and/or the work of a team.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication.

Unit Sector

Regulation, licensing and risk – compliance

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Clarify the scope of operations

1.1 Identify and review the relevant range of operations and the sphere of business arrangements of the organisation

1.2 Conduct an analysis of the operations and business arrangements of the organisation and identify the functions, products and services that may be subject to compliance requirements

1.3 Develop and document work activity plans for determining relevant compliance requirements

1.4 Obtain approval of plans from relevant organisational personnel

2 Identify compliance requirements

2.1 Conduct a search of information on internal and external compliance requirements using appropriate search resources, including relevant Australian and international standards

2.2 Ensure the search of compliance requirements scans across all relevant jurisdictions of laws, regulations, and industry and organisational codes and standards and identify pertinent compliance requirements

2.3 Progressively review information collected in terms of its relevance to the organisation’s operations, services and products

2.4 Organise and store gathered information on relevant compliance requirements in an appropriate format for further analysis

3 Interpret, analyse and prioritise identified compliance requirements

3.1 Review and interpret collected information in terms of its relevance to the organisation’s functions, services and products

3.2 Discuss and clarify with relevant internal or external personnel ambiguities, uncertainties and problems experienced in interpreting identified compliance information

3.3 Identify, analyse and prioritise relevant compliance requirements in terms of critical implications for the organisation and risks and consequence of possible breaches

3.4 Group pertinent compliance requirements into those that are critical and central to the organisation’s operations, those that are important in some circumstances but are not central to the organisation’s operations, and those that are pertinent but are incidental to the organisation’s operations

4 Document compliance requirements

4.1 Organise and document outcomes of the identification and interpretation activities

4.2 Prepare and communicate reports of relevant compliance requirements and assessment of implications to relevant personnel performing specific compliance management functions

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Performance 

Criteria 

Description 

Reading

1.1, 1.2, 2.1, 2.2, 2.3, 3.1, 3.3, 3.4

  • Identifies, interprets, analyses or reviews complex texts from various sources to determine legal requirements, organisational operations, specific requirements and responsibilities

Writing

1.2, 1.3, 1.4, 2.4, 3.2, 3.3, 3.4, 4.1, 4.2

  • Collates and compiles results of research and analysis using appropriate technical language and organisational formats
  • Develops materials to convey information, requirements or recommendations using language and structure appropriate to the audience

Oral Communication

1.4, 3.2, 4.2

  • Presents specialised information using structure and language to suit the audience
  • Uses appropriate techniques, including active listening and questioning, to seek approvals and to confirm understanding

Navigate the world of work

1.2, 2.2, 3.1, 3.3

  • Takes full responsibility for following policies, procedures and legislative requirements and identifies organisational implications of new legislation or regulations

Interact with others

1.4, 3.2, 4.2

  • Identifies and uses appropriate conventions and practices when communicating with internal and external personnel

Get the work done

1.1, 1.3, 2.1-2.4, 3.1, 3.3, 3.4, 4.1, 4.2

  • Plans, organises and implements activities required to identify, prioritise and document compliance requirements
  • Systematically gathers, analyses and evaluates all relevant information in order to make informed decisions about management of compliance breaches
  • Uses digital tools and systems to locate, organise and share information in effective ways

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBCOM501 Identify and interpret compliance requirements

BSBCOM501B Identify and interpret compliance requirements

Updated to meet Standards for Training Packages

Equivalent unit

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

  • analyse an organisation’s operations to identify areas subject to compliance requirements
  • interpret and analyse information from Australian and international standards, legislation, regulations, industry and organisational codes of practice to determine their relevance to the organisation
  • document and store the outcomes of identification and interpretation activities related to the organisation’s compliance requirements
  • report on key compliance requirements and the implications of these for the organisation.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • outline elements of compliance programs and related management systems breaches
  • identify relevant Australian and international standards.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the compliance field of work and include access to:

  • relevant Australian and international standards, laws, regulations, industry and organisational codes and standards
  • appropriate computer resources for online searching
  • case studies and, where possible, real situations.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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