REQUIRED KNOWLEDGEampSKILLS

Knowledge requirements include

principles of internal control including statutory requirements

wide knowledge of recording and information management systems and software applicable to financial recording

financial legislation eg taxable transactions reporting requirements

ethical considerations for records and file management eg confidentiality

Skills requirements include

research skills for tracing use of financial data

planning skills for evaluating routines for handling data

capacity to troubleshoot information technology systems

timetabling skills for overseeing the introduction of new systems and processes

capacity to identify repeating errors and diagnose problems in financial recording

writing skills for reporting and documenting procedures

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 internal control systems

knowledge of organisational policies and procedures

knowledge of professional accounting standards

ability to identify strengths and weakness within organisational policies and procedures

ability to evaluate information systems

ability to develop implementation plans

ability to review resources

ability to monitor plans

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

Prerequisite units

FNSACCTB Implement and maintain internal control procedures

FNSACCT506B Implement and maintain internal control procedures.

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

System specificationsmay include:

Security requirementsmay include:

Risk management strategies may include:

Internal control systems and proceduresmay include:

Strengths and weakness of organisational processesmay include:

Implementationmay include:

Professional accounting standards may include:

Short and long term objectives may include:

Sources of input data and documentation may include: