Standard P8 — Business managementStandard P8 — Business management

Standard P8 – Business management

The operations of the provider are supported by effective management actions.

P8.1 A registered provider must:

comply with relevant Commonwealth, state or territory legislation and other regulatory requirements that are relevant to its operations
ensure that its staff, students and other clients are fully informed of all regulatory requirements where they affect their duties or participation in ELICOS education.

P8.2 A registered provider must hold public liability insurance throughout its registration period.

P8.3 A registered ELICOS provider must:

have its accounts prepared to Australian Accounting and Auditing Standards, at least annually
provide the certificate of accounts to the ESOS agency on request
provide a full audit report of its financial accounts from a qualified and independent auditor, if the ESOS agency reasonably deems this necessary
provide other business management documents as requested by the ESOS agency, if reasonably deemed necessary.

P8.4 A registered provider must have management systems that are responsive to the needs of students, staff and stakeholders and the environment in which the provider operates, including:

a systematic and continuous improvement approach to managing its operations
management of records to ensure their accuracy and integrity.