Assessment Task 2: Case Study The resources you will need for this assessment are: 1. Access to

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Assessment Task 2: Case Study

The resources you will need for this assessment are:

1. Access to the internet2. Your Learning Guide3. PC, Word Processor, Printer4. Relevant legislation, regulations, standards, and codes5. Relevant workplace documentation and resources6. Interaction with others.

The tasks you will need to complete fall into the following areas:

1. Identify regulatory, taxation and insurance requirements of the business2. Develop procedures to ensure compliance and risk minimisation3. Implement compliance procedures

In addition, you will be required to respond to all questions in each section of the case study.

Background

You have just received your Licence as a Private Investigator and have decided to set up a micro business as a sole trader to investigate missing people, investigate fraud for insurance companies and to conduct surveillance of people who are cheating on their partners. In your first and second year you will earn approximately $50,000 each year.

An exciting time, but you are a little daunted by what you need to do to ensure compliance with regulatory, taxation and insurance requirements.

Location of your business: the capital city of your State/Territory

Contractors: You will be engaging two sub-contractors who run their own businesses to conduct surveillance activities for you.

Task to complete:

As you have just engaged the two sub-contractors, you need a formal procedure to be used by the sub-contractors when conducting surveillance. Design a written procedure which you can give to the sub-contractors to follow.

1. Find a name for your business and research that it has not been used already. Provide a screen shot of this search and the results.

2. List at least one ACT, one code of practice and one Licence which could apply to your Private Investigator's Business.

3. Complete the table below with details of three regulatory, three taxation and three insurance requirements for your business. Use the information you have gained from the learning guide. If necessary, re-read this section to determine what you will need.

Regulatory Requirements	Response
Taxation


Insurance


Regulatory - legislation, regulations, codes of practice

4. Complete the table below to determine the compliance requirements for your business, given that you will be conducting surveillance of people who are cheating on their partners using two sub-contractors, investigate missing people, and to investigate fraud for insurance companies. State that part or section or other information that relates to the tasks to be conducted in your business in the table below.

Tasks/ Compliance	Conducting surveillance	Locate missing persons	Investigating fraud for insurance company
Legislation
Regulations
Codes of Practice
Standards
Written material

5. List at least 3 business advisors you would use and then describe how you will use your business advisors to ensure compliance and risk minimisation.

6. List 3 other sources of assistance which could help you to interpret and explain the regulatory, taxation and insurance requirements of your business.

7. Imagine you are in a meeting with your Business Advisor and they have asked you to explain the business type and operations covering the full scope of the business. explain this below:

8. You are seeking legal advice from your solicitor about employment laws to minimise your risks, as you are considering employing your sub-contractors. List 3 pieces of information that you should provide to him.

9. Provide 1 reason why you do not have to register for GST.

10. After receiving so much advice from your Business Advisor and Solicitor, you need to review this. List three factors that you should consider when reviewing this information to ensure it is suitable for your business.

11. List the actions you will take when implementing procedures to ensure your business complies with relevant taxation and business registration requirements, legislation, regulations, codes of practice and associated standards.