BSBDIV601 AUS Accountancy Assignment Sample

• Subject Code : BSBDIV601
• University : Victoria University My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name : Accounting and Finance

Develop and Implement Diversity Policy

Introduction to Aus Accountancy 

This report intends to emphasize board diversity in Aus Accounting and diversity policies being implemented in the organization. In the organization, diversity is implemented in terms of providing the prospects to employees on the grounds of gender, race and minority. The Indigenous Australians reserve at least 11 per cent of the total employees. Aus Accountancy strongly complies with the Australian Human Rights Commission (AHRC), Sex Discrimination Act, the Racial Hatred Act, Disability Discrimination Act, the Racial Discrimination Act and Age Discrimination and many more.

Diversity Facts and Figures

The company employs at least 4 per cent of the employees from overseas to ensure the diverse workplace. More opportunities are created for the freshers and retirement schemes are provided with employees over the age of 50. On the basis of the religion, at least 7 per cent of posts are reserved for the employees on the basis of the religion. 11 per cent of employees are employed in the firm based on disability, 7 per cent for people with a physical disability and 4 per cent for the people with mental disability involving autism spectrum disorder.

Impacts of Diversity

Diverse cultural perspectives will inspire the organization to drive innovation. A fair and equitable working environment will help in making sure that the decision-making process is more inclusive. Diversity will contribute to high-quality financial reporting standards. In regard to the business objectives, the diversity programs are helpful in solving team problems in a steadier custom, in anticipating the needs in an enhanced manner and fostering a culture that seeks innovative answers (Feeney and Camarena 2018). The conservative accounting theory existing and potential liabilities pose an incredible influence on the firms. This theory states that the planning for potential liabilities must be done in order to ensure that the adequate cash flow for paying the debt is maintained (Petriwskyj 2018). This theory is applied by the firm in terms of confirming to the diverse workforce to ensure that the monetary resources are effectually maintained through the competitive edge through the organizational diverse workforce.

Benchmarks and Other Measurement Indicators

Since benchmarking is the initial phase of the assessment tool, it assists in the initial assessment of the organizational policies. The key measurement indicator of the effectiveness of the organization will be the completion of the team tasks within the deadlines. With the diverse workforce, it will be beneficial in ensuring that the diverse idea input is provided and the employees cope up with each other to reach the results. The staff also needs to be involved in the benchmarking process so that the critical performance measures are easily adopted. For determining the impacts of the policy implementation, it will be ensured that the stakeholder surveys are conducted. Also, there is an urgent need to ensure that the feedback loop is maintained to ensure that the regularly occurring complaints are evaluated in a regular manner (Ruggs et al. 2020).

Legal Requirements in Relation to Workplace Diversity

The key legal requirements that need to be strictly adhered to while performing the operations are:

• Racial Hatred Act must be employed so that the people have the right to complain against the offensive behaviour in the workplace.
• Disability Discrimination Act will conserve the rights of the individuals of people with disabilities (Spaaij et al. 2018).
• Age Discrimination Act will protect the employees and applicants of 40 years of age or above. This right safeguards their rights in different zones such as the compensation, conditions or privileges of employment, promotion and hiring.
• Sex Discrimination Act safeguards that both male and females have equal job opportunities and prospects in the workplace (Petriwskyj 2018).
• Racial Discrimination Act ensures that the employees are not deprived of appraisals, hiring, promotions, incentives, memberships or any prospect on the grounds of race and a constructive working environment is constructed (Petriwskyj 2018).

Example Diversity Actions to Inform Action Plan

Action Plan

• Committee must develop a training curriculum for enforcing the policy
• The HR must review the diversity policy
• Recruitment of people with disabilities must be ensured
• Indigenous media must be implemented for advertising
• Management and workshops must be conducted and employee leadership must be promoted

Reasonable Adjustment

A reasonable adjustment is an alteration made in the workplace for allowing the people with disability to work in a productive manner and in a safe way. According to the Equal Opportunity Act 2010, this concept is helpful in providing support to disabled people (Spaaij et al. 2018). Following are the key adjustments that must be incorporated in Aus Accounting for assisting the operations of people with disabilities:

• The duties that people with disability cannot perform or face difficulty in performing must be reallocated.
• The social anxiety of the employees with a disability must be assisted in coping with if they feel distressed in the workplace.
• Flexibility in work timing can be entertained in their cases.

Example diversity policies and procedures

• The conflict resolution policy is determined to resolve the conflicts fumed among the employees as a result of diversity (Spaaij et al. 2018). It is employed in discussion with the staff managers and the stakeholders for ensuring smooth meetings and decision-making process.
• The inclusion diversity policy will be beneficial in making sure that the different employees from diverse backgrounds and race are involved in the decision-making process (Schiller 2016). It will not only embrace diversity but will also contribute to the decision-making process.
• The Law Council inclusion policy must foster the rights of the employees (Spaaij et al. 2018). Their appraisals must be based on the performance rather than the colour or nationality. The HRM must ensure that the organization effectively implements the law.

Suggested Format for Aus Accountancy Diversity Policy

• Diversity vision

It outlines the overall vision of the organization and emphasizes the contribution of each employee.

• Recruitment

It highlights the inclusion policy and the diversified recruitment procedure.

• Career development and promotion

It lays prominence on the career development programs of the employees and ways to evaluate employees fairly.

• Community programs

It will recognize the distinct demographic groups who are disadvantaged. It will emphasize clear reporting procedures.

• Diversity practices

It elaborates the diversity policies and their applications along with the action plan.

References for Aus Accountancy

Feeney, M.K. and Camarena, L. 2018. Managerial perceptions of diversity and gender diversity in public organizations. Available at SSRN 3145376.

Petriwskyj, A. 2018. Diversity, inclusion, and the voice of older people: Engagement and decision-making in seniors’ organizations. International Journal of Public Administration, 41,9 pp.671-683.

Ruggs, E.N., Summerville, K.M. and Marshburn, C.K. 2020. The Response to Social Justice Issues in Organizations as a Form of Diversity Resistance. In Diversity Resistance in Organizations, pp. 123-148.

Schiller, M. 2016. Diversity Policy in Practice. In European Cities, Municipal Organizations and Diversity, pp. 157-202.

Spaaij, R., Magee, J., Farquharson, K., Gorman, S., Jeanes, R., Lusher, D. and Storr, R. 2018. Diversity work in community sport organizations: Commitment, resistance and institutional change. International Review for the Sociology of Sport, 53,3 pp.278-295.

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Accounting and Finance Assignment Help