Financial Viability Risk Assessment Tool

It becomes a necessary aspect for RTO businesses to present an acceptable level of financial viability risk at all times (this includes considering any parent entities). ASQA assesses each RTO’s financial viability risk to evaluate the likelihood of business continuity and the RTO’s capacity to achieve quality outcomes, as outlined in the Financial Viability Risk Assessment Requirements 2011. ASQA considers this against the potential for adverse consequences if your entity collapses or becomes unviable, and makes a judgement about whether the level of risk is acceptable, unacceptable, or requires additional controls. To enable a preliminary financial viability risk assessment, the initial registration application requires the applicant to provide:

  • A range of financial sustainability information
  • Independent certification.

ASQA may also require your RTO to undergo a financial viability risk assessment at any other time.

ASQA may ask for providing evidence of acceptable financial viability risk. This evidence may include:

  • Financial statements and tax records
  • Business plans or projections
  • Australian Securities and Investments Commission (ASIC) reports
  • Dependency statements
  • Independent financial assessments or audit opinions
  • Government contracts

ASQA may request this evidence with applications for initial registration or renewal of registration, or at any other time.

Guidance For Applicants For Initial Registration

You must provide relevant evidence with your application. The application process provides guidance to applicants about the specific evidence required to demonstrate that the organisation satisfies the Financial Viability Risk Assessment Requirements.

We, at Accounting Services Perth will not only assist you in completion of the FVRA tool, but also assess and discuss the actual financial viability of the project for your business. We understand compliance as well as accounting hence we can assist to verify the underlying.

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