Due Diligence Package
Buying an RTO?
It’s not as easy as just buying a business, there is a regulatory body to contend with.
Thinking about buying an RTO?
Minimise your risk by hiring an expert
Before you make the decision to buy an RTO, you should undertake due diligence to ensure that the vendor has no hidden non-compliances or illegal operations that you may inherit and ultimately be responsible for as the new owners.
This package has been designed to assist you with your decision-making process when buying an RTO and/or CRICOS organisation. In this basic package, we will conduct an audit of the vendor you wish to purchase to identify the risk factors of purchasing that vendor and provide you with an audit report and risk assessment.
Why choose Vivacity for your Due Diligence?
We provide you with a full package to manage the risk of purchasing an RTO or CRICOS provider With Vivacity’s Due Diligence Package you will get Professional Advice, an External Audit and more.
Get the right advice on your RTO purchase to minimise your risk
Why choose Vivacity for your Due Diligence?
We will provide you with professional advice based on our previous experience with not only ASQA, but also with buying and selling training organisations. You will also receive:
- A risk assessment of the vendor and their registration with ASQA
- Assistance with identifying your legal and accounting obligations
- An analysis of how the purchase of the RTO will affect your existing operations
- Guidance through the regulatory compliance requirements specifically in regards to the purchase
We conduct an audit of the organisation you wish to purchase, which is the best way to gain a snapshot of the vendor’s compliance.
During the audit we will review the organisations policies, procedures, documents and systems and provide you with advice on the organisations compliance, which includes identifying the improvements that may need to be implemented based on our extensive experience.
Following the audit, you receive an Audit Report, which includes our experienced opinion on the risk of purchasing the RTO and/or CRICOS organisation.
Risks of NOT conducting an Audit by an experienced Auditor
- You take over the registration, go to audit, and are deemed non-compliant
- Risk cancellation of your registration, even before you get started
- A previous student or trainer complaining directly to ASQA, which triggers an ASQA Audit
- Not knowing how non-compliant the RTO and/or CRICOS provider is before buying
- As you are responsible for all previous training, you risk previous students had not received the training and assessment they should have received
- ASQA cancelling all previous certificates issued and you will be responsible for refunding all the students who now no longer have a certificate due to the previous owner not collecting sufficient evidence of the student’s competency
- Undue pressure on you and your team and less attention for your students because ASQA directs you to take remedial action due to non-compliances
- The anxiety and uncertainty that remedial action could mean conducting further assessments or even the cancellation of certificates, thanks to non-compliance
Make the right decision with Vivacity on your side
What Vivacity does for you?
We sort through the complexities of the compliance and identify whether the organisation should be purchased.
Provide you with an expert, where we don’t just audit, but we provide you with our years of experience in the training industry.
We clearly identify where the non-compliances are and rate the risk of that non-compliance.
Explain to you in simple English what the non-compliances mean when you purchase.
You will be clear on what needs to be improved with strategies on how to do that if you do decide to purchase.
We provide you with an unbiased opinion of the investment and whether it is a viable purchase.
Want more than just a risk assessment?
We have a Full Due Diligence Package
Transfer of Ownership
Transferring the ownership is not as simple as buying the company, there are regulatory requirements you must meet that could risk the whole sale. We will assist you with:
- the transfer of ownership
- the completion of ASQA forms and transfer of Directors
- the submission of all required forms to ASQA
Following a transfer of ownership, ASQA will conduct an audit of your recent purchase to determine whether you are a fit and proper person to maintain your registration under ASQA. To assist you with this process:
- Vivacity conducts an internal audit of your RTO to prepare you for your ASQA Audit
- You will receive a full audit report, with an action plan, to ensure your RTO is ready for an ASQA Audit
- Vivacity provides you and your team with guidance on how to implement your Action Plan
- Vivacity coaches you through your ASQA Audit
- Provision of an Audit Action Plan following the audit to assist with rectifications
“Today was awesome! I can’t tell you how excited I am about this new learning curve I am about to embark on…the word “audit” has never been more appealing…bring it on I say!!!
Sandy Zakoc ~ RTO Manager, TraYn Pty Ltd
SystemsCheck and Membership | 2019 to present