On 1 July 2011 the requirements that specify the type of financial information that must accompany an application have changed. 

Until 30 June 2011, the VET FEE-HELP Financial Viability Assessment Auditor Guidelines (Auditor Guidelines) specified the financial information requirements.

From 1 July 2011, the Auditor Guidelines will be replaced by the VET FEE-HELP Financial Viability Instructions - for Applicants.

The key differences between the previous requirements and the VET FEE-HELP Financial Viability Instructions - for Applicants are:

• Applicants are no longer required to obtain a Phase 1, 2 or 3 Auditor’s Certification (as described in the Auditor Guidelines);
  
• There is greater clarity in the VET FEE-HELP Financial Viability Instructions - for Applicants about the financial information required by the department; and
  
• Examples are provided in the VET FEE-HELP Financial Viability Instructions - for Applicants of the type of risk mitigation strategies that applicants may wish to put in place in order to meet the financial viability requirements.

The purpose of these changes is to reduce the administrative burden on Registered Training Organisations and assist them to submit all the information that relates to their financial viability assessment, at the time the application is lodged.

If you have already arranged for an Auditor’s Certification to be prepared, as per the previous requirements, you are welcome to lodge this and it will be considered along with the rest of your application.