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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Identify statutory requirements for reports
   • Review information on statutory rules regularly and comprehensively to ensure all reporting requirements are planned for and met
   • Review sources of data regularly for changes
   • Use existing reports as guideline for content and format where available
2. Plan for provision of reports
   • Establish timelines to meet report deadlines and data requirements, and explicitly communicate them to internal users
   • Establish realistic lead times that ensure adequate time is available for contingencies
3. Analyse and consolidate reports
   • Review reports to ensure accuracy with internal accounting records and completeness of data, and review and cross-reference reports against detailed statutory requirements
   • Justify report results in required format where necessary
   • Prepare comprehensive, accurate reports to deadlines with detailed and clear audit trail to enable comprehensive financial monitoring
4. Submit reports for authorisation
   • Ensure all reports comply fully with auditor requirements
   • Obtain all required sign-offs, approvals and authorisations from responsible parties
5. Distribute reports
   • Distribute authorised reports to all parties in timely manner
   • Obtain confirmation of receipt of reports to complete organisational record of compliance

Performance Evidence

Evidence of the ability to:

identify, interpret and comply with statutory requirements and information

accurately analyse data and information for reports

prepare and consolidate well-written reports in required format.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

outline key information required, common financial report formats and typical quality indicators

explain financial services industry codes of practice

describe key requirements of organisational policy and procedures relevant to financial reporting

identify and describe key requirements of relevant legislation and regulations relevant to financial reporting.

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