Financial Viability Risk Assessment (FVRA) tool has changed again, version 3.1.

The financial viability risk assessment (FVRA) tool has been changed again by ASQA to make it more user friendly. The latest change was implemented on October 4, 2019. The changes have been made to make the FVRA tool more user-friendly and in cases where it is incomplete, provide additional guidance to identify items missing.

The following media release has been published by the Australian Skills Quality Authority: 

In response to user feedback, ASQA has made a number of revisions to the Financial Viability Risk Assessment (FVRA) tool to make it more user friendly.

These changes will assist users in ensuring the tool is complete before they provide it to ASQA and, in cases where it is incomplete, provide additional guidance to identify items missing.

If you are required to complete and submit the FVRA tool to ASQA, you should ensure you are using the latest version and that you have provided all required attachments – these are detailed on the Provider Details tab of the FVRA tool.

ASQA may require you to demonstrate financial viability by submitting the FVRA tool at any time, or when you:

• apply to become an RTO and/or a CRICOS provider

• apply to change the scope of your RTO registration in the first 12 months of registration

• change 50% or more of the ownership of your RTO within a 12 month period

You can read more information about this by clicking the following link;

https://www.asqa.gov.au/news-publications/news/changes-financial-viability-risk-assessment-fvra-tool