QED Risk Services has repackaged its existing broker compliance offering as an online service, that will see brokers generate their own compliance reports by answering questions via the web.

The consultancy group - which also offers face-to-face consultancy services, and produced a comprehensive compliance toolkit for brokers - has now put a full version of its service online.

Managing director Greg Ashe told Australian BrokerNews that, instead of an ACL holder sitting in front of one of its consultants, brokers could now "sit in front of a computer with a decision-making model".

Ashe said the business will first provide the Australian Credit Licensee with contextual information and education material on compliance, and then direct them to log on to the site and answer about 20 questions. Their responses then generate a report on their current state of compliance.

"We see this as being the perfect tool for the small broker that knows they need to demonstrate good compliance, but can't see their way clear to getting an independent provider in to do the job for them," Ashe said. "With about 750 billion different combinations possible, each report is totally unique and custom-built."

Ashe labelled the group's new online service as a "quantum leap" compared with what is available to brokers. Ashe has also argued against the perception that compliance is just files and fact finds.

Ashe said the service will be available to brokers at $57 a month.