REQUIRED KNOWLEDGEampSKILLS

Knowledge requirements include

common routines for recording and storing data

principles of internal control including statutory reporting

methods of data protection including back ups and security

principles and practices of budgetary control eg double entry bookkeeping and accrual accounting

financial legislation eg taxable transactions reporting requirements

ethical considerations for the handling of financial reconstruction eg conflict of interests confidentiality disclosure requirements

Skills requirements include

research skills for tracing use of financial data

writing skills for report preparation of procedures

planning skills for evaluating routines for handling data

working with others to establish maintain and review accounting information systems

interpersonal skills for problem solving

information technology use for the set up and analysis of spreadsheets

EVIDENCE GUIDE

Assessment of performance requirements in the unit should be undertaken in an industry context The Evidence Guide identifies the critical aspects knowledge and skills to be demonstrated to confirm competency for the unit Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace

Overview of assessment requirements

To achieve competency in this unit a person must be able to demonstrate

knowledge of organisational and statutory requirements

knowledge of organisational policies and procedures

knowledge of taxation and other liabilities

knowledge of relevant legislation and industry codes of practice

ability to identify record and systems requirements

ability to evaluate alternative systems

ability to acceptance test systems

ability to prepare systems documentation

ability to implement reporting systems and records

ability to monitor reporting systems

ability to review reporting procedures

Critical aspects of evidence

Evidence required for demonstration of consistent performance

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment

Deliveryassessment relationship to other units

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge

Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit or a cluster of units of competency

Assessment requirements

Method of assessment

For valid and reliable assessment of this unit evidence should be gathered through a range of methods to indicate consistent performance

Assessment of this unit of competence will usually include observation of processes and procedures oral andor written questioning on underpinning knowledge and skills and other methods as required

Context of assessment

Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personalfinancial responsibility and accountability

Aspects of competency including the attainment of relevant knowledge and skills may be assessed in a relevant workplace a closely simulated work environment or other appropriate means that clearly meet industry competency requirements

Resources required for assessment

Assessment of this unit of competence requires access to suitable resources to demonstrate competence

Assessment instruments including personal planner and assessment record book

Access to registered provider of assessment services

Systems and records may include:

Records may include:

System testing may include:

Company policy and guidelines may include:

Legislation and industry codes of practice may include:

System specifications and features may include:

Organisational and statutory requirements may include:

Discrepancies may include:

Transactions may include:

Taxation and other liabilities may include: