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ACO - Australian Careers Network

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Australian Careers Network Group is a full service vocational education and training provider encompassing student marketing and recruitment, direct and subcontracted education and training delivery (registered and non-registered), the issuing of registered qualifications, tracking, processing and reporting functions under the Australian Skills Quality Authority (ASQA) and the Victorian Registration and Qualifications Authority (VRQA).

http://www.australiancareersnetwork.com.au
 
Dodgy vocation education providers... what else is new?

http://www.smh.com.au/national/voca...er-ripping-off-taxpayers-20151013-gk7r06.html

Dodgy vocational college Phoenix Institute has been told it will lose its registration after revelations that it was a multimillion-dollar get-rich-quick scheme masquerading as an educational institution.

In a coordinated move against the college on Monday, the regulator – the Australian Skills Quality Authority –threatened its registration as an education provider, and the Department of Education and Training issued a notice of intent to remove its ability to charge the government for courses.
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First VET, then ASH, then IQE, now ACO.

[video]https://www.youtube.com/results?search_query=another+one+bites+the+dust[/video]
 
shouldaindex said:
What SP are we looking at when trading resumes?
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Will trading resume might be the question now?

It seems that the regulators and feds are lining up.

1. Australian Skills Quality Authority(ASQA) - being pursued for judgements in AAT by ACO (announced today). This will be drawn out with stay for some time. To ACO's advantage rectification work completed prior to substantive hearing seems to work at Australian Administrative Appeals Tribunal (AAT). To ACO's disadvantage ASQA's track record at AAT is steadily improving and although there is no visibility the alleged non-compliance leading to sanction may well not be rectificable.

2. Australian Competition and Consumer Commission (ACCC). Wouldn't fancy ACO in this race. ACCC lose a few, but couldn't see them launching this one, expanding into new industry coverage without very good odds. Plus they will have a couple under their belt before this proceeds, I would expect.

3. Federal Department of Education and Training deferring payment of fees. Wouldn't fancy ACO on this one either. After ACO forced backdown of Victorian government attempting similar deferral and suspension of new enrolment, pretty unlikely the Feds will be risking same egg on face.

Would love to see some guidance on what is happening in operations given the developing debacle. I guess a merry Christmas and return to trading pretty unlikely here.
 
Hob said:
Would love to see some guidance on what is happening in operations given the developing debacle. I guess a merry Christmas and return to trading pretty unlikely here.
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Administrators appointed. It was only a matter of time, the way things were going for the company and the sector. And really it was all the company's own doing... for not running a business with ethics and integrity.

skyQuake said:
I am surprised by the NEW HIGHS the stock made after the mid Sep article:

http://www.smh.com.au/national/phoe...-vocational-registration-20150917-gjormy.html

Surely this was well flagged?!
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I wonder if we will ever see this again... Share price suspended at all time high when administrators appointed. A perfect example to illustrate the different approaches of FA vs TA!
 
My gut feeling is there could well be a big clean out of private educational (for want of a better word) providers. The problems with them almost seem insurmountable.

When a the number of issues started to come to the fore, a colleague made the comments that there should be better guidelines. My opinion is you can have as many guidelines as you like but what is really required is active auditing of their activities. However, I doubt whether that will occur as it may mean hiring more public servants and that is anathema politically and to the general populace.

The general theme of governments in these and other private endeavours seems to be managing contracts and not active involvement.
 
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