Love it or hate it, you have to determine your legal and other requirements, but most organisations don’t do it very well. They’ll focus on the health and safety act and that’s about it.
In this video, I’m going to show you 7 steps to make sure that you have determined your legal and other requirements properly and they cover all the requirements for your business.
1. Identify
You need to identify what legal and other requirements are applicable to your business.
This may mean asking local authorities such as:
Council
State and national government
Your accountant
Your lawyer
But be prepared, you may not like some of the information you get. For example, it could be the payroll act, ensuring that all your staff are paid.
2. Document
After you have identified the legal and other requirements that are applicable to your register, you must document them and then add these to your register.
3. Assess Your Compliance
Assessing your compliance is a key step. If you have assessed it and are still not sure, then you must deem that you are not compliant in this area.
4. Controls
You then need to put controls in place that ensure you are complying. For example, getting a certificate from your accountant showing that you’re following the requirements of the payroll act.
5. Monitoring
Monitoring is crucial in order to determine whether you are still complying after a period of time. In regards to the payroll act, you could get that certification from our accountant every year.
6. Records
It is important that you record these findings. Using the example of the payroll act, you would have the certificate from your accountant, you would also have that listed on your compliance register. There would also be the minutes of meetings.
7. Communication
Annually you need to communicate with the board to discuss your level of compliance in regards to legal and other requirements. This step is crucial, as it will ensure that everyone in the organisation is aware of all the requirements that are compliant, and those that are still not being met.
When you’re determining your legal and other requirements you might hear a lot of terms and acronyms that you’re not aware of, so watch our video on Acronyms to get a strategy on how to manage all that.
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