ASQA recently reported some statistics:
Thinking of buying a Registered Training Organisation (RTO)?
Before you make that decision, due diligence ensures the RTO has no hidden non-compliances or illegal operations that you may inherit and ultimately be responsible for. Due diligence is a comprehensive appraisal of the RTO undertaken by a prospective buyer, especially to establish its compliance with the standards and regulatory bodies.
Why you need us for your due diligence undertaking
The Vocational education industry is a speciality sector that requires specialist knowledge and experience, especially in buying or selling a Registered Training Organisation (RTO).
We have dedicated consultants that specialise in RTO due diligence and transfer of ownership.
RTOs are bound by industry standards and regulations which places significant scrutiny on management and day-to-day operations of the business. When an RTO is sold you must notify ASQA in the prescribed manner. Their role is not to approve the sale but they must be notified by the vendor. Thera are a number of potential traps and requirements.
A purchase may trigger an audit by ASQA. You will need specialist attention and our consultants have the experienced to advise both parties (buyer and seller).
What we will provide/do for you
We have many years of experience in not only compliance, but also with the buying and selling of RTO’s, including what the buyer should be aware of and how to ensure you are making the right purchase.
Before embarking on buying an RTO, you should seek our professional advice, specifically:
- Identifying your legal and accounting obligations
- How the purchase of the rto will affect your existing operations
- How your rto will fit in with what you need
- Conducting an audit and systems check of the rto
- During the audit, we will provide advice on:
- What is considered as high risk, manageable risk and opportunities for improvement
- Your training and assessment strategies to ensure that they comply with asqa requirements
- Your training and assessment tools against the training package and aqf requirements
- Industry best practice on continuous improvement and how the rto is collecting, analysing and acting on gathered data to ensure compliance
- Your policies and procedures and their compliance with the standards
- Your trainer files to ensure that they meet auditing requirements
- Your enrolment process and information
- Your marketing material that is distributed to prospective students
- The data being utilised by the rto and compliance with avetmiss and quality indicator data collection requirements
- Your complaints and appeals policy and process
- Your financial processes – student refunds and fee protection measures
- Your have adequate insurance policies in place
- Following the audit we will provide you with an audit report of what we discovered and how we plan to address any shortfalls.
- Assistance with transfer of ownership including:
- Completion of ASQA and transfer of ownership forms
- Submission of forms to ASQA