Required skills

highly developed communication skills to

evaluate an organisations solvency and risks using questioning of personnel management and external stakeholders for confirmation

negotiate complex insolvency options and actions

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

highly developed research skills for accessing and managing financial services information

welldeveloped literacy skills for analysingfinancial information and insolvency indicators and preparing financial options and clear written advice

numeracy skills for financial calculations and analysis estimating and forecasting

IT skills for developing and using integrated financial systems spreadsheets and databases and internet information

learning skills to maintain knowledge of insolvency statutory requirements best practice principles processes and procedures

problem solving skills to identify insolvency planning issues that have the potential to impact on organisations and to develop options to resolve these issues when they arise

organisational skills including the ability to plan and sequence work and correctly schedule insolvency activity monitoring and reporting

Required knowledge

comprehensive practices and principles of insolvency administration

depreciation methods allowed by tax authorities

duties and responsibilities of insolvency administrators and liquidators

ethical considerations for the handling of financial insolvency such as

conflict of interests

confidentiality

disclosure requirements

forms and functions of employee records

law as it relates to insolvency management including

trade practices and corporation law

Taxation Assessment Acts

Workplace Relations Act

Australian Consumer and Competition Commission ACCC regulations

Privacy Act

principles and practices of budgetary control

doubleentry bookkeeping

accrual accounting

principles of valuation and processes for asset disposal

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to

apply statutory requirements to evaluate options for insolvency

establish timelines and objectives for an insolvency plan and monitor progress adjusting as required

Context of and specific resources for assessment

Assessment must ensure

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment technology software and consumables

access to an integrated financial software system and data

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples in combination are appropriate for this unit

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations or scenarios

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Assets and liabilities may include:

Stakeholders may include:

Claims may include:

Agreed criteria may include:

Milestones may include:

Implementation schedules may include:

Reporting responsibilities may include:

Data may include:

Statutory requirements may include:

Delays may include: