FVRA Tool Requirements

The Financial Viability Risk Assessment Tool, or FVRA Tool, is used by ASQA to check whether your organisation has the financial capacity to stay viable and continue delivering quality outcomes for students.

In my latest video, I break down the FVRA Tool requirements step-by-step to make sure you understand all the key scenarios and stay well-prepared.

FVRA Tool Requirements

You are required to complete the FVRA Tool in several situations, including:

• When applying for initial registration as an RTO or CRICOS provider.

• When notifying ASQA of a change of ownership or shareholding.

• When ASQA requests it as part of a compliance monitoring review.

• And, importantly, when seeking a change of scope of registration.

  
  

So, what does a change of scope mean?

It refers to any adjustment to the range of training products your organisation is registered to deliver. This could include:

• Adding a new qualification, skill set, or unit of competency.

• Extending delivery to new student cohorts, such as international students.

• Expanding into new training areas or delivery methods that were not part of your original scope.

Because these changes can significantly impact your operations, ASQA requires the FVRA Tool to demonstrate that you have the financial resources to support the expansion.

Once completed, the tool provides a preliminary financial risk rating, allowing you to determine whether you meet the base requirements before lodging your application. 

The purpose is straightforward: ASQA needs assurance that you can sustain your business, support your students, and deliver training to completion, even as your organisation grows or changes. 

If you’re preparing an application and need support, speak to an experienced RTO consultant, or reach out to us for guidance on completing the FVRA Tool correctly.