Assessor Resource

FNSACC506
Implement and maintain internal control procedures

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to review corporate governance requirements, implement operating procedures and monitor policy.

It applies to individuals who use specialised knowledge and analytical skills to ensure organisational policy, compliance and quality requirements are met.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

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. Review corporate governance requirements

1.1 Identify and analyse corporate governance and ethical requirements to determine application to operations

1.2 Access clarifications on application of corporate governance requirements from authoritative and recognised sources

1.3 Review and develop internal control procedures, reflecting application of corporate governance requirements to internal operations

2. Implement operating procedures

2.1 Maintain and review financial delegations and accountabilities to ensure consistency and compliance with internal control procedures

2.2 Produce, review and distribute required reports within agreed timelines

2.3 Develop timetables for implementation of corporate governance requirements in consultation with stakeholders

2.4 Detail and document internal control procedures in standardised formats to promote consistency of use

3. Monitor policy

3.1 Develop applications of corporate governance requirements from published sources or recognised practices

3.2 Develop and report on performance indicators to evaluate compliance with internal control procedures

3.3 Identify and evaluate variations in adoption of corporate governance requirements in operations to determine causes

3.4 Develop and implement modifications to procedures to facilitate compliance with internal control procedures

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. Review corporate governance requirements

1.1 Identify and analyse corporate governance and ethical requirements to determine application to operations

1.2 Access clarifications on application of corporate governance requirements from authoritative and recognised sources

1.3 Review and develop internal control procedures, reflecting application of corporate governance requirements to internal operations

2. Implement operating procedures

2.1 Maintain and review financial delegations and accountabilities to ensure consistency and compliance with internal control procedures

2.2 Produce, review and distribute required reports within agreed timelines

2.3 Develop timetables for implementation of corporate governance requirements in consultation with stakeholders

2.4 Detail and document internal control procedures in standardised formats to promote consistency of use

3. Monitor policy

3.1 Develop applications of corporate governance requirements from published sources or recognised practices

3.2 Develop and report on performance indicators to evaluate compliance with internal control procedures

3.3 Identify and evaluate variations in adoption of corporate governance requirements in operations to determine causes

3.4 Develop and implement modifications to procedures to facilitate compliance with internal control procedures

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
Identify and analyse corporate governance and ethical requirements to determine application to operations 
Access clarifications on application of corporate governance requirements from authoritative and recognised sources 
Review and develop internal control procedures, reflecting application of corporate governance requirements to internal operations 
Maintain and review financial delegations and accountabilities to ensure consistency and compliance with internal control procedures 
Produce, review and distribute required reports within agreed timelines 
Develop timetables for implementation of corporate governance requirements in consultation with stakeholders 
Detail and document internal control procedures in standardised formats to promote consistency of use 
Develop applications of corporate governance requirements from published sources or recognised practices 
Develop and report on performance indicators to evaluate compliance with internal control procedures 
Identify and evaluate variations in adoption of corporate governance requirements in operations to determine causes 
Develop and implement modifications to procedures to facilitate compliance with internal control procedures 

Forms

Assessment Cover Sheet

FNSACC506 - Implement and maintain internal control procedures
Assessment task 1: [title]

Student name:

Student ID:

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

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Result: Competent Not yet competent

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Assessment Record Sheet

FNSACC506 - Implement and maintain internal control procedures

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:

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