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.
For further information, you should contact an Education and Training Specialist at Benchmark Business Sales and Valuations.
Russell Brockie
Education and Training Specialist
russell@benchmarkbusiness.com.au
Benchmark Business Sales and Valuations
