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Elements and Performance Criteria

1. Review financial governance requirements
   • Identify and analyse corporate governance and ethical requirements to determine application to operations
   • Review internal control procedures
2. Monitor adherence to compliance requirements
   • Monitor and evaluate organisation operations to identify incidences of non-compliance
   • Review and evaluate sources of information on potential non-compliance
   • Interrogate financial management information system to identify any indication of non-compliance
3. Liaise with others during breach management
   • Maintain liaison with relevant regulatory authorities and other organisations
   • Seek advice from relevant internal and external personnel on the classification and management of non-compliance
4. Monitor policy
   • Develop and report on performance indicators to evaluate compliance with internal control procedures
   • Identify and evaluate variations in adoption of financial governance requirements in operations
   • Develop and implement solutions to facilitate compliance with internal control procedures

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: developing processes for managing financial non-compliance implementing control measures to address non-compliances monitoring the financial compliance to requirements, including: interrogating information systems identifying and informing senior management and regulatory authorities of non-compliance seeking advice from internal and external personnel investigating incidences of non-compliance obtaining and keeping up to date with financial compliance requirements reporting non-compliances identified.

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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: analysis techniques relevant to review and interpret an identified non-compliance compliance requirements applicable to the organisation elements of a compliance management system financial compliance responsibilities organisational standards for operations and ethics potential incidences of non-compliance procedures for managing incidences of non-compliance requirements relevant legislation and organisational policies and procedures reporting processes on compliance management, including reports on non-compliance and remediation.

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