ASQA Requirements when Selling an RTO
With effect from 31 October, 2019, ASQA, the national regulator for Australia’s vocational education and training sector, introduced some changes.
- Increased evidentiary requirements for providers who change 50% or more of their ownership over a 12 month period to demonstrate their compliance with the relevant regulatory framework, including:
- The completion of a Financial Viability Risk Assessment tool and
- The completion of a self-assessment tool which requires the submission of supporting evidence.
- The conduct of a compliance audit. For providers registered under the National Vocational Education and Training Regulator Act, 2011, this audit will be chargeable
- Training providers registered as CRICOS providers must notify ASQA of any change of ownership as soon as practicable prior to the change occurring
- Increased scrutiny on providers who have changed ownership in the 12 months prior.
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For further information, you should contact an Education and Training Specialist at Benchmark Business Sales and Valuations.
Russell Brockie
Education and Training Specialist
Benchmark Business Sales and Valuations