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Elements and Performance Criteria

1. Develop understanding of the financial management framework
   • Maintain currency of knowledge of the financial management framework
   • Seek advice and guidance from colleagues to clarify financial management requirements
2. Comply with the financial management framework
   • Uphold financial management policies and principles
   • Promote compliance with financial management policies amongst colleagues
3. Manage compliance
   • Identify and report on instances of non-compliance
   • Make recommendations to management to reduce the risk of future non-compliance

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment. Non-essential conditions may be found in the Companion Volume Implementation Guide.

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Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include: accessing, interpreting and applying financial management policies identifying financial non-compliance.

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Knowledge Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of: financial statements the Commonwealth budget cycle financial systems instructions relating to financial management activities key deliverables and key performance indicators of the organisation the organisation’s Delegations framework the organisational structure organisational roles and responsibilities the purpose of the Portfolio Budget Statements (PBS) and Portfolio Additional Estimates Statements(PAES) the relevant legislation and organisational accounting principles and policies the role and purpose of: Department of Treasury Department of Finance.

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