Assessor Resource

FNSSUP418
Participate in superannuation fund reviews

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to conduct quality checks and reviews of superannuation funds. It involves conducting data integrity checks, participating in fund review processes according to organisational policies and procedures, and communicating review findings to a range of parties.

The unit applies to those who use specialised knowledge and systematic approaches to ensure integrity of data and information and meet organisational quality assurance requirements.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those 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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

participate in the review of at least one superannuation fund, and:

conduct required data integrity checks

prepare information or report for key stakeholders in that review.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative requirements relating to superannuation funds, including:

auditing requirements of superannuation legislation

laws relating to data protection

key obligations set out in privacy legislation in relation to this work

organisational policies, procedures, objectives and guidelines relating to fund review practices and quality checks

purpose, process and documentation requirements for annual review of fund records and other data

details of fund records, including:

financial statements, including categories listed in chart of accounts

member records

reporting alternatives for defined benefit funds and accumulation funds

capital gains taxation requirements

information requirements for financial statements from members, employers, trustees, fund administrators, trade unions, investors and taxpayers.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

organisational equipment, technology, software and consumables

fund and member records required to conduct superannuation fund reviews

organisational policies and procedures.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

participate in the review of at least one superannuation fund, and:

conduct required data integrity checks

prepare information or report for key stakeholders in that review.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative requirements relating to superannuation funds, including:

auditing requirements of superannuation legislation

laws relating to data protection

key obligations set out in privacy legislation in relation to this work

organisational policies, procedures, objectives and guidelines relating to fund review practices and quality checks

purpose, process and documentation requirements for annual review of fund records and other data

details of fund records, including:

financial statements, including categories listed in chart of accounts

member records

reporting alternatives for defined benefit funds and accumulation funds

capital gains taxation requirements

information requirements for financial statements from members, employers, trustees, fund administrators, trade unions, investors and taxpayers.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

organisational equipment, technology, software and consumables

fund and member records required to conduct superannuation fund reviews

organisational policies and procedures.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
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 data requirements, data input systems and database 
Collect and verify data according to relevant regulations and organisational policies and procedures 
Check data input for completeness and correctness 
Sample member statements and records for correctness 
Review systems and database programs for efficiency and accuracy 
Reconcile fund records according to organisational policies and procedures 
Prepare fund financial statements according to organisational policies and procedures 
Review and update member records and calculate benefits according to organisational policies and procedures 
Prepare review information and provide to required personnel according to organisational policies and procedures 
Discuss review findings with relevant stakeholders according to organisational procedures 
Integrate feedback from discussions and distribute review information or report to required stakeholders according to organisational policies and procedures 

Forms

Assessment Cover Sheet

FNSSUP418 - Participate in superannuation fund reviews
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

FNSSUP418 - Participate in superannuation fund reviews

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: