The importance of record keeping in your business

Emily Fear, Marketing Officer


The recent Royal Commission into Misconduct in Banking, Superannuation and Financial Services Industry demonstrates what happens when businesses fail to maintain records of their actions.

The commission established in late 2017 by the Australian Government made a final report to the public in February 2019.

Amongst other findings the Royal Commission highlighted a significant lack of diligence in recording practices. Finding that some financial services businesses could not provide evidence on how the advice or action provided was in the best interests of their customer. This resulted in it being virtually impossible to determine if the business was compliant with their duty to either the customer or the regulatory body.

Record making ensures decision making can always be explained.

Photograph via Pixabay

While these findings are specific to the Banking Royal Commission, they provide a valuable lesson for any business, shining a light on the importance of maintaining documentation and records when it relates to compliance.

It is important to ensure that your business maintains accurate, compliant and accessible records creating effective processes.

Under Australian Standard AS 3760: 2010 every Australian business should have records of all testing and tagging.

The purpose of keeping records

Good records can assist your business regarding cash flow, budgeting, OHS, asset management and keeping track of the overall health of your business. Allowing you to make thorough and considered business decisions. Keeping legal records, asset registers and employee records help protect your business, ensuring everything is complaint.

Keep all your test and tag reports.

Photograph via Unsplash

Implementation of these systems and processes

To implement these systems, company-wide policies need to be developed, communicated and maintained by all staff. Everyone needs to be aware of these obligations and their role in ensuring its ongoing compliance.

The Importance of Test and Tag Reports

Under Australian Standard AS3760:2010 every Australian business should have records of all testing and tagging performed within an electrical asset register report. It is highly recommended that your test and tag contractor and/or staff member is providing these detailed reports. This will guarantee you are supplied a service that is compliant and up to scratch with current guidelines and procedures.

This report is required to include; asset numbers, technician name and licence id, date of testing, and the date it is due to be retested. These reports are important as they provide evidence for insurance purposes and Work Safe visits. Ensuring your workplace electrical safety testing and tagging is performed regularly and correctly.

Don’t place your business at risk of missing important documentation. Set up automatic reminders to ensure your business can stay on top of all expires and renewals. In regards to your workplace electrical safety, a test and tag service provider should look after this for you.

If you are seeking a professional test and tag service for your business that is suited to the needs of your industry, then learn more about the service provided at A1 Testing and Tagging here.

Download your FREE

Electrical Safety Audit Checklist.


Award Winning Test and Tag Services


Warehouse & Factory Electrical Test and Tag Requirements


Understand Test and Tag Colour Frequencies