Assisting registered organisations to become more voluntarily compliant in their financial and legal obligations is an important aspect of the day-to-day work undertaken by the Commission's Regulatory Compliance Branch.
Proactively providing advice and help to reporting units and their auditors has been a considerable driver in the way the Branch now approaches its dealings with registered organisations, and has proven to be particularly effective.
The Commission's Financial Reporting Specialist in the Regulatory Compliance Branch, confirms this often means that 'by the time our clients lodge, there are no surprises' or unexpected issues with their documentation. Clients concerns can be addressed early in the process to enable them to 'get it right the first time' with the financial reports they submit.
Graeme Kent, Director from MGI Audit, whose clients include both private companies and registered organisations, confirms the assistance and collaboration from the Branch's expert staff helps ensure that the organisations he assists are complying.
This year the Commission launched an upgraded website redesigned for industry, stakeholders and members of the community to more easily access the latest information, with a refined layout and improved navigation, and interactive webinars for registered organisations on becoming more compliant.
A new initiative absolutely is the webinar series and there has also been the opportunity to meet with key people in the finance regulatory arm.
The introduction of the webinar series, along with guidance documents such as model financial statements has provided valuable tools for industry and individuals to help them navigate the financial reporting process and better understand their obligations.
Another way the Regulatory Compliance Branch is proactively engaging with their audience is hosting meet and greet sessions for stakeholders. Mr Kent says 'it was a great experience to meet the people I'm calling on the phone and being able to pick their brains to make sure I am delivering the best service to my clients.'
Visit the website www.fwc.gov.au for the full case study and to view the extensive resources of fact sheets, templates and webinars for Registered Organisations.