This unit describes the skills and knowledge required to identify and comply with all regulations affecting the business. It applies to individuals operating a small business who use analytical skills to interpret legislation and regulations and develop procedures to manage compliance.
Topics:
- Identify and implement business legal requirements
- Comply with legislation, codes and regulatory requirements
- Negotiate and arrange contracts
- Identify and treat business risks
Upon successful completion of this unit, you will:
- demonstrate a systematic approach to identifying, managing and meeting legal and regulatory requirements, specifically in regard to WHS, business registration and environmental requirements
- ensure compliance, by:
- following taxation and industrial relations principles
- updating and maintaining legal documents
- investigating areas of non-compliance
- monitoring provision of products and services
- taking corrective action where necessary
- negotiate and arrange contracts, including:
- seeking legal advice
- investigating procurement rights
- identifying options of leasing or ownership of business premises
- identify, assess and treat risks specific to the business including:
- prioritising risks with highest probability of occurrence and greatest negative impact on the business
- identifying insurance requirements
Demonstrate knowledge of:
- business registration and licensing requirements
- government legislative requirements relating to the specific business operation
- creation and termination of relevant legal contracts
- relevant cultural differences and legal implications
- legal rights and obligations of alternative ownership structures
- record keeping to meet minimum legal and taxation requirements
- relevant consumer legislation and industry codes of practice
- key steps in the risk management process
- relevant insurance requirements and products
Nominal hours = 60 hours
