Annual Report 2011/2012 Professional Standards Councils
Tabled paper 112
Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT
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Professional Standards Council
29Professional Standards Councils Annual Report 201112 COmPLIANCE REPORTINg ON RISK mANAgEmENT In order to comply with the professional standards legislation in each State and Territory, associations that have Cover of Excellence schemes must submit annual reports to the Professional Standards Councils. The role of scrutinising how associations implement and monitor risk management of strategies is fundamental to the role of the Councils in all jurisdictions. These compliance reports are derived from the five-year risk management plan that is submitted as part of an associations original application for a Cover of Excellence scheme. The risk management plans set out how the associations members will improve the quality of services they provide to consumers through improved risk management practices. Compliance reports include an account of developments in PII specific to that occupational group. Compliance reports typically examine initiatives and trends in the associations work in areas such as: continuing professional development codes of conduct and ethics, and professional obligations quality control program technical standards and competence complaints and disciplinary system claims data and insurance monitoring compliance with professional indemnity insurance requirements. While associations may provide comprehensive information on a wide range of potential areas of risk, the annual compliance reports focus on insurance claims and monitoring, complaints and discipline, continual occupational education and compliance with disclosure of limited liability, as well as use of the Councils Cover of Excellence trademark. Reporting on an annual basis encourages the association to work throughout the year to set the standards for constant and timely improvement to members practices. Anecdotal evidence from associations is that the increasingly rigorous and systematic risk management programs reported to the Professional Standards Councils are providing assistance toward reducing the expense of litigation in the professional services sector, as well as improving consumer protection. Philippa Seagrave, Executive Officer c o m p lia n c e r e p o r t in g