This consultation process has now been completed
The guidance outlines the proposed process for those with educational qualifications obtained outside Australia to get these qualifications approved by the Standards Authority and understand the correct educational pathway to ensure their compliance with the new standards.
Both new and existing advisers will need to obtain an assessment from the National Office of Overseas Skills Recognition (NOOSR), which will compare their foreign qualification to an Australian qualification using the Australian Qualifications Framework.
New advisers with NOOSR-approved degrees will be required to complete an approved postgraduate course in order to meet the new standards.
Existing advisers with NOOSR-approved degrees will need to apply to the Standards Authority for an additional assessment of whether the degree is a relevant qualification.
If their degree is deemed related by the Standards Authority, the existing adviser will be required to meet the related degree pathway. If their degree is deemed unrelated, then the existing adviser will be required to undertake the unrelated degree pathway.
The Standards Authority will maintain a precedent database of relevant foreign degrees to give applicants an indication of whether their foreign qualification is likely to be deemed related.
The Standards Authority welcomes feedback on any aspect of the proposed Foreign Qualifications, submissions for this proposed guidance will close 5pm 31 August 2018.
Consultation Interests of FASEA
The Standards Authority is interested in your specific feedback on:
Section 3: Foreign Qualifications Roles & Responsibilities
Proposal: FASEA requires individuals to provide certified copies of their foreign qualification and if applicable translated to English. In addition, FASEA requires individuals to apply for NOOSR assessment with the NOOSR fees payable by the individual. See section 3 for more details.
- S3.1 Do you agree that the NOOSR assessment is an appropriate approach in assessing the education level of an overseas qualification? If not, why not?
Section 4: Foreign Qualification Requirements
Proposal: FASEA proposes that New Entrants who have an approved NOOSR foreign qualification complete a FASEA approved post graduate, otherwise undertake a FASEA approved undergraduate Degree. See section 4 for more details
FASEA proposes that Existing Advisers who have a relevant foreign qualification will be required to undertake the requirements as per the relevant degree pathway otherwise, the existing adviser will be required to undertake the requirements as per the unrelated degree pathway.
- S4.1 Do you agree with the approach for approving New Entrant Foreign Qualifications? If not, why not?
- S4.2. Is there an alternative approach that should be considered for approving New Entrant foreign qualifications?
- S4.3. Do you agree with the approach for approving Existing Adviser Foreign Qualifications? If not, why not?
- S4.4 Is there an alternative approach that should be considered for approving Existing Adviser foreign qualifications?
Section 5: Precedent Database
Proposal: FASEA approved foreign qualifications, will be added to FASEA’s Foreign Qualification Precedent Database that will be available on FASEA’s website. The Precedent Database will be updated periodically and consist relevant information. See section 5 for more details.
- S5.1 Do you agree that a Precedent Database and its availability on the FASEA website will be useful? If not, why not?
- S5.2 Do you agree with the information that will be updated periodically on the website? If not, why not?
MAKE YOUR SUBMISSION
Your feedback on this consultation paper will assist FASEA to finalise the development of a Standard for Foreign Qualifications.
Submissions must be provided in writing. To ensure your submission is valid, please email it to our dedicated consultations email address (email@example.com).
Due date for submission: 5pm 31 August 2018