An NVR registered training organisation satisfies the Financial Viability Risk Assessment Requirements 2021: it can demonstrate financial viability at any time on request; an applicant submits to a financial viability risk assessment by an independent qualified financial auditor ASQA nominates, including of the sources and reliability of evidence behind its projections (FVRA s 7); a registered organisation submits to such an assessment whenever ASQA determines under the Risk Assessment Framework, and both obligations extend to parent organisations, affiliated companies and organisations with a vested interest (FVRA ss 7(3) and 8); financial data is given in a format that follows Australian Accounting Standards (FVRA s 10). The assessment looks at liquidity, solvency, economic dependency, revenue, profit and cash flow, commercial risk, the audit opinion, contingencies, statutory compliance (tax, GST, superannuation) and accounting policies, using material such as projections, business plans, audited statements, 12 months of financial records, budgets, enrolment forecasts, tax records, debts, legal disputes, related-party dealings, contingent liabilities, ultimate ownership and post-balance-date events (FVRA ss 11 and 13). ASQA may waive an assessment where it rates the risk low, without removing the obligation to submit later (FVRA s 9).
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.