REQUIRED KNOWLEDGEampSKILLS

Knowledge requirements include

principles of internal control including statutory requirements

principles of valuation and common methods of depreciation

detailed current knowledge of formats required for submission of statutory returns

forms and functions of employee records

current financial legislation eg taxable transactions reporting requirements

ethical considerations for compliance

Skills requirements include

planning skills for timetabling and scheduling reports and lodgements

recording gathering and consolidating financial information

researching and identifying applicable accounting standards and decisions

interpersonal skills and communication skills eg liaising listening consulting

report writing and preparation

numeracy skills for calculation of data

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 statutory and regulatory authorities

knowledge of professional accounting standards

knowledge of organisational policies and procedures

ability to research corporate governance reporting trends

ability to determine processes for corporate governance adherence

ability to examine corporate governance standards and practices

ability to review corporate governance compliance

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

Obligations may include:

Internal control procedures may include:

Policies may include:

Information technology systems may include:

Management processes may include:

Professional accounting standards may include:

Statutory and other regulatory authorities may include:

Performance indicators may include:

Key result areas may include: