Assessor Resource

BSBATSIM505
Control organisational finances

Assessment tool

Version 1.0
Issue Date: March 2024


This unit describes the skills and knowledge required to establish and maintain effective financial management within the organisation to ensure board control of finances and external accountability to statutory authorities and funding bodies.

It applies to individuals with a broad knowledge of the business or core functions of organisations, who have responsibilities for controlling an organisation’s finances.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Establish a financial management structure

1.1 Establish a structure to undertake regular financial management responsibilities on behalf of the board

1.2 Document respective responsibilities of the board and management

1.3 Determine financial information required by the board from management

1.4 Seek advice on suitable financial management systems for the organisation

1.5 Identify relevant statutory requirements

2 Establish financial management processes and systems

2.1 Ensure appropriate policies and procedures are in place to open and operate necessary bank accounts

2.2 Identify approved signatories for bank accounts

2.3 Ensure authority and delegation between the board and management for management of finances are documented

2.4 Ensure statutory requirements on financial management are followed

2.5 Ensure duties of finance staff are documented

2.6 Ensure accepted procedures for receiving and expending funds are established and maintained by management

2.7 Ensure accepted systems for financial reporting are established and maintained

3 Sign contracts on behalf of the organisation

3.1 Ensure procedures for developing and documenting contracts are developed and followed

3.2 Identify people authorised to sign contracts on behalf of the organisation

3.3 Check proposed contractual arrangements are realistic for the organisation and in the organisation’s and community’s best interests

3.4 Ensure contracts are signed according to organisational policies and procedures

4 Follow finance procedures specified by funding bodies

4.1 Seek variations to financial agreements from relevant funding bodies if required

4.2 Identify and follow purchasing and disposal procedures specified by funding bodies

4.3 Check requirements for finance documentation specified by funding bodies are met

5 Advise the community of the financial situation of the organisation

5.1 Identify type and content of financial information that can be made publicly available

5.2 Ensure financial information is made available to members as specified in the constitution

5.3 Present financial information at meetings in a clear and simple manner

6 Meet reporting requirements of relevant corporate authorities and funding bodies

6.1 Identify reporting requirements by relevant corporate authorities and funding bodies

6.2 Establish timelines to ensure financial statements are completed within timeframe required by relevant corporate authorities and funding bodies

6.3 Ensure auditor is appointed at annual general meeting

6.4 Review and evaluate financial statements to ensure they meet requirements

6.5 Check financial reports are submitted to relevant corporate authorities and funding bodies within required timeframe


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Establish a financial management structure

1.1 Establish a structure to undertake regular financial management responsibilities on behalf of the board

1.2 Document respective responsibilities of the board and management

1.3 Determine financial information required by the board from management

1.4 Seek advice on suitable financial management systems for the organisation

1.5 Identify relevant statutory requirements

2 Establish financial management processes and systems

2.1 Ensure appropriate policies and procedures are in place to open and operate necessary bank accounts

2.2 Identify approved signatories for bank accounts

2.3 Ensure authority and delegation between the board and management for management of finances are documented

2.4 Ensure statutory requirements on financial management are followed

2.5 Ensure duties of finance staff are documented

2.6 Ensure accepted procedures for receiving and expending funds are established and maintained by management

2.7 Ensure accepted systems for financial reporting are established and maintained

3 Sign contracts on behalf of the organisation

3.1 Ensure procedures for developing and documenting contracts are developed and followed

3.2 Identify people authorised to sign contracts on behalf of the organisation

3.3 Check proposed contractual arrangements are realistic for the organisation and in the organisation’s and community’s best interests

3.4 Ensure contracts are signed according to organisational policies and procedures

4 Follow finance procedures specified by funding bodies

4.1 Seek variations to financial agreements from relevant funding bodies if required

4.2 Identify and follow purchasing and disposal procedures specified by funding bodies

4.3 Check requirements for finance documentation specified by funding bodies are met

5 Advise the community of the financial situation of the organisation

5.1 Identify type and content of financial information that can be made publicly available

5.2 Ensure financial information is made available to members as specified in the constitution

5.3 Present financial information at meetings in a clear and simple manner

6 Meet reporting requirements of relevant corporate authorities and funding bodies

6.1 Identify reporting requirements by relevant corporate authorities and funding bodies

6.2 Establish timelines to ensure financial statements are completed within timeframe required by relevant corporate authorities and funding bodies

6.3 Ensure auditor is appointed at annual general meeting

6.4 Review and evaluate financial statements to ensure they meet requirements

6.5 Check financial reports are submitted to relevant corporate authorities and funding bodies within required timeframe

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Establish a structure to undertake regular financial management responsibilities on behalf of the board 
Document respective responsibilities of the board and management 
Determine financial information required by the board from management 
Seek advice on suitable financial management systems for the organisation 
Identify relevant statutory requirements 
Ensure appropriate policies and procedures are in place to open and operate necessary bank accounts 
Identify approved signatories for bank accounts 
Ensure authority and delegation between the board and management for management of finances are documented 
Ensure statutory requirements on financial management are followed 
Ensure duties of finance staff are documented 
Ensure accepted procedures for receiving and expending funds are established and maintained by management 
Ensure accepted systems for financial reporting are established and maintained 
Ensure procedures for developing and documenting contracts are developed and followed 
Identify people authorised to sign contracts on behalf of the organisation 
Check proposed contractual arrangements are realistic for the organisation and in the organisation’s and community’s best interests 
Ensure contracts are signed according to organisational policies and procedures 
Seek variations to financial agreements from relevant funding bodies if required 
Identify and follow purchasing and disposal procedures specified by funding bodies 
Check requirements for finance documentation specified by funding bodies are met 
Identify type and content of financial information that can be made publicly available 
Ensure financial information is made available to members as specified in the constitution 
Present financial information at meetings in a clear and simple manner 
Identify reporting requirements by relevant corporate authorities and funding bodies 
Establish timelines to ensure financial statements are completed within timeframe required by relevant corporate authorities and funding bodies 
Ensure auditor is appointed at annual general meeting 
Review and evaluate financial statements to ensure they meet requirements 
Check financial reports are submitted to relevant corporate authorities and funding bodies within required timeframe 

Forms

Assessment Cover Sheet

BSBATSIM505 - Control organisational finances
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:


Assessment Record Sheet

BSBATSIM505 - Control organisational finances

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: