Are you aware of the new ASQA guidelines in relation to change of ownership of an RTO?
From 1st November 2019, ASQA has updated its policy around change of ownership obligations. All parties involved in the sale or merger of a provider must provide ASQA with a Notification of Material Change when transferring the ownership of a provider. If the training provider is CRICOS registered, ASQA must be notified of the change in shareholding before it occurs. For further information, CLICK HERE.
Furthermore, if more than 50% of a Registered Training Organisation (RTO) ownership changes within a 12 month period, a Financial Viability Risk Assessment (FVRA) Tool is required. The FVRA Tool is a complex and detailed excel based document that includes past, present and future operational and financial information. Other documents also need to be provided with the Tool such as past financial statements and a business plan. You need to ensure your financial documents are in order, up to date and you have thought about the future of your RTO.
RTO Accountants are experts in working with FVRA tool. They understand all details required to produce a compliant tool for submission to ASQA. We have completed and signed off countless compliant FVRA Tools over the past few years.
Contact RTO Accountants for feedback on how to provide ASQA with a compliant FVRA Tool and other required financial information.