Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSACC604 Mapping and Delivery Guide
Monitor corporate governance activities

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSACC604 - Monitor corporate governance activities
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to research corporate governance reporting trends, examine corporate governance standards and practices, and review compliance to develop and implement processes and procedures for meeting corporate governance obligations.It applies to individuals who use and maintain current and specialised knowledge and analytical skills to provide advice on organisational processes to meet compliance and management requirements.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Establish corporate governance standards and practices
  • Monitor application of and adherence to professional and legal accounting standards to identify emerging trends and interpretations of statutory and other regulatory requirements
  • Research audit reports and practices to assess methodologies and recommendations
       
Element: Identify corporate governance reporting trends
  • Analyse organisational practices to identify corporate governance obligations and performance
  • Examine queries from statutory and other regulatory authorities for corporate governance failure to assess change effects on internal control procedures
  • Assess content and structure of reports, returns and processes for review to evaluate policies being followed by organisation
       
Element: Determine processes for corporate governance adherence
  • Analyse and monitor internal control procedures to determine performance indicators for compliance with corporate governance requirements
  • Evaluate information technology systems to determine their use and suitability for recording data from operations and transactions for corporate governance obligations
  • Establish management processes to support corporate governance
  • Establish reporting plans to ensure completion of compliance requirements within scheduled timeframes
       
Element: Review corporate governance compliance
  • Assess achievement of performance indicators and review against key result areas
  • Monitor compliance preparation processes and review in line with corporate governance requirements
  • Analyse failures in compliance to diagnose shortcomings and to remedy processes in line with corporate governance requirements
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Establish corporate governance standards and practices

1.1 Monitor application of and adherence to professional and legal accounting standards to identify emerging trends and interpretations of statutory and other regulatory requirements

1.2 Research audit reports and practices to assess methodologies and recommendations

2. Identify corporate governance reporting trends

2.1 Analyse organisational practices to identify corporate governance obligations and performance

2.2 Examine queries from statutory and other regulatory authorities for corporate governance failure to assess change effects on internal control procedures

2.3 Assess content and structure of reports, returns and processes for review to evaluate policies being followed by organisation

3. Determine processes for corporate governance adherence

3.1 Analyse and monitor internal control procedures to determine performance indicators for compliance with corporate governance requirements

3.2 Evaluate information technology systems to determine their use and suitability for recording data from operations and transactions for corporate governance obligations

3.3 Establish management processes to support corporate governance

3.4 Establish reporting plans to ensure completion of compliance requirements within scheduled timeframes

4. Review corporate governance compliance

4.1 Assess achievement of performance indicators and review against key result areas

4.2 Monitor compliance preparation processes and review in line with corporate governance requirements

4.3 Analyse failures in compliance to diagnose shortcomings and to remedy processes in line with corporate governance requirements

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Establish corporate governance standards and practices

1.1 Monitor application of and adherence to professional and legal accounting standards to identify emerging trends and interpretations of statutory and other regulatory requirements

1.2 Research audit reports and practices to assess methodologies and recommendations

2. Identify corporate governance reporting trends

2.1 Analyse organisational practices to identify corporate governance obligations and performance

2.2 Examine queries from statutory and other regulatory authorities for corporate governance failure to assess change effects on internal control procedures

2.3 Assess content and structure of reports, returns and processes for review to evaluate policies being followed by organisation

3. Determine processes for corporate governance adherence

3.1 Analyse and monitor internal control procedures to determine performance indicators for compliance with corporate governance requirements

3.2 Evaluate information technology systems to determine their use and suitability for recording data from operations and transactions for corporate governance obligations

3.3 Establish management processes to support corporate governance

3.4 Establish reporting plans to ensure completion of compliance requirements within scheduled timeframes

4. Review corporate governance compliance

4.1 Assess achievement of performance indicators and review against key result areas

4.2 Monitor compliance preparation processes and review in line with corporate governance requirements

4.3 Analyse failures in compliance to diagnose shortcomings and to remedy processes in line with corporate governance requirements

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Monitor application of and adherence to professional and legal accounting standards to identify emerging trends and interpretations of statutory and other regulatory requirements 
Research audit reports and practices to assess methodologies and recommendations 
Analyse organisational practices to identify corporate governance obligations and performance 
Examine queries from statutory and other regulatory authorities for corporate governance failure to assess change effects on internal control procedures 
Assess content and structure of reports, returns and processes for review to evaluate policies being followed by organisation 
Analyse and monitor internal control procedures to determine performance indicators for compliance with corporate governance requirements 
Evaluate information technology systems to determine their use and suitability for recording data from operations and transactions for corporate governance obligations 
Establish management processes to support corporate governance 
Establish reporting plans to ensure completion of compliance requirements within scheduled timeframes 
Assess achievement of performance indicators and review against key result areas 
Monitor compliance preparation processes and review in line with corporate governance requirements 
Analyse failures in compliance to diagnose shortcomings and to remedy processes in line with corporate governance requirements 

Forms

Assessment Cover Sheet

FNSACC604 - Monitor corporate governance activities
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

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Assessment Record Sheet

FNSACC604 - Monitor corporate governance activities

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: