Chancellery Legal and Assurance Enterprise Risk Compliance Definitions

Definitions

Key Terms Used in Compliance

Term	Description
Compliance	Meeting all the organisation's compliance obligations
Compliance Culture	Values, ethics and beliefs that exist throughout an organisation and interact with the organisation's structures and control systems to produce behavioural norms that are conducive to compliance outcomes
Compliance Register	Alphabetical listing of legislative requirements imposing at least one positive obligation on the University and identifies the responsible officer whom is required to ensure the positive obligation is satisfied in accordance with the applicable legislation
Legal Risk	The potential for financial loss or reputational damage if the University fails to be aware of and implement legislative or regulatory requirements that could impact operations, results in a breach of compliance, or through action or inaction gives rise to potential litigation against the organisation, its staff or students
Compliance Action Plan	Plan developed by the relevant Division in response to an identified non-compliance with timeframes and a risk assessment with mitigation strategies (where appropriate). Entered into Riskware.
Compliance Declaration	Document that confirms the level of compliance with relevant legislation, provides details of any actual or potential breaches and any action taken
Obligation	A requirement specified by laws, regulations, codes or organisational standards
Code	A statement of recommended practice developed internally by the University or externally by another body (may be mandatory or voluntary)
Responsible Officer	Employees appointed as being responsible for compliance with particular legislation