Each year the Australian Property Institute undertakes a random compliance audit of its members and their member obligations, to ensure standards are met in accordance with Professional Standards Legislation. Audits are conducted in retrospect; meaning this year the API will be auditing compliance for year 2022 for Continuing Professional Development (CPD), including mandatory modules.
Continuing Professional Development Audit
Continuing Professional Development or CPD for short, comprises of learning activities that enhance professional knowledge and skills to remain current and contemporary, focused on workplace capabilities and technical competence. This continuing improvement of skills and knowledge, sets API Members apart from general property professionals, which has earnt API Members a leading reputation.
Members of the API are obligated to reach and complete a set number of Continuing Professional Development each year. To review what your Member CPD obligations please review Annual Audit FAQs.
This year, the CPD audit commences Tuesday, 26 September. In this process, Member auditees will be contacted via email to advise they have been randomly selected to participate.
APIV Scheme Compliance Audit
API as the administrators of the APIV Scheme are required by the government regulator the Professional Standards Council, to check the compliance of APIV Scheme members through an annual compliance monitoring process. The review includes;
- Membership renewal survey (self-declaration); and
- Random compliance audit of 10% of APIV Scheme members.
This year, the APIV audit commences Tuesday 26 September. In this process, Member organisations will be randomly selected to participate in the audit as auditees. Auditees will be contacted via email to advise they have been randomly selected to participate.
Purpose of the Audit
The purpose of this audit is to comply with the APIV Scheme requirements, as agreed with the Professional Standards Council, to ensure the provided liability cap/coverage remains intact.
Deadline for Return of Information
Please return the above to [email protected] by COB Wednesday, 30 November 2023.
If you are selected to participate in the audit as an auditee, please review links for more information on how to prepare for the review;
We strongly recommend that you seek your own independent legal/financial/insurance advice on any specific questions relevant to your circumstances to ensure that you comply with the compliance obligations.
If you have any questions or require further information, please contact the APIV at [email protected] or telephone 03 9644 7500.