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Protecting consumers by improving professional standards.
Advice for scheme associations

What to include in your annual report to us

All associations covered by a Professional Standards Scheme must submit an Annual Report on your Professional Standards Improvement Program. These reports were formerly known as Annual Risk Management Reports.

You must complete and send your annual report for the previous calendar year to us between 1 January and 31 March for every year your scheme is active.

We will send you a template to follow in January each year, so you can ensure your report complies with professional standards legislation. Typically, your association will be asked to report on its actions, policies and decisions in the following areas.

Continuing professional development programs
You should describe any new and existing education programs your members have completed during the year, and explain how these programs relate to any identified trends or knowledge gaps in your industry.
Complaints handling and disciplinary systems

Establishing and monitoring consumer complaint channels and discipline systems is an essential requirement for associations with a Professional Standards Scheme. In your annual report to us, you need to:

  • Collect data on:
    a) The total number of complaints received, including dismissed complaints
    b) The nature and type of complaints
    c) Causes of complaints
    d) Number of complaints resolved without disciplinary action
    e) Number of complaints resulting in disciplinary action
    f) Average length of time taken to resolve complaints
  • Analyse this data for trends
  • Determine methods to improve future practice
  • Include your analysis and planned improvements (not the raw data) in your annual report to us.

Use of the disclosure statement

Under professional standards legislation, you and all participating members of your Professional Standards Scheme must disclose your limited liability on your business documentation.

You need to report on any instances of unauthorised use of the statement or non-compliance with the policy, and any disciplinary action you’ve taken as a result.

Risk management reporting

As part of your association’s scheme application, you will have submitted a five-year risk management strategy to us. This will have identified any risks your members face in their normal practice, as well as the actions you planned to take to address these risks.

Your annual report should cover the progress you’ve made in each area of risk, as well as any new risks that have emerged and how you’re addressing them.

Insurance cover, claims and business assets monitoring

To satisfy the requirements for limited liability under professional standards legislation, your members must have enough insurance cover and/or business assets to cover their liability under your Professional Standards Scheme. You are required to monitor this on an ongoing basis, and to collect and report on your members’ compliance with this statutory requirement in your annual report.

You should also report on:

  • The number, amount and nature of claims made against your members
  • The cost and availability of professional indemnity insurance
  • The anticipated cost and availability of insurance to your members in future.
Annual audit of members

You must include any audit certificates you gave us during the year covered by your report to verify your membership numbers and annual fee.

How we can help you meet your requirements

You can learn more about each area you need to cover by downloading our Professional Standards Improvement Program factsheet.

And if you need further assistance completing your annual report, please contact us.