How to Achieve Asset Management Compliance in Australia
Quick answer: To achieve asset management compliance in Australia, keep your plant safe and maintained, record every inspection and repair, register the plant your regulator requires, and store it all so you can produce it on request. A general finance asset register is not a WHS plant register. Most small and mid-sized businesses in Australia own more plant than they realise. Forklifts, pressure equipment, ladders, hoists, scaffolding and workshop machinery all count. Each one carries a legal duty to keep it safe, and that duty sits at the heart of asset management compliance. The problem is rarely bad intent. It is usually a records gap. The finance team keeps an asset register for depreciation and insurance. That list shows purchase dates and book values. It says nothing about the last inspection, the risk assessment or whether the item is registered with the regulator. When an inspector or an insurer asks for proof, the finance register comes up short. This guide walks through how...