Application
This unit describes the skills and knowledge required to review corporate governance requirements, implement operating procedures and monitor policy.
It applies to individuals who use specialised knowledge and analytical skills to ensure organisational policy, compliance and quality requirements are met.
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.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Review corporate governance requirements | 1.1 Identify and analyse corporate governance and ethical requirements to determine application to operations 1.2 Access clarifications on application of corporate governance requirements from authoritative and recognised sources 1.3 Review and develop internal control procedures, reflecting application of corporate governance requirements to internal operations |
2. Implement operating procedures | 2.1 Maintain and review financial delegations and accountabilities to ensure consistency and compliance with internal control procedures 2.2 Produce, review and distribute required reports within agreed timelines 2.3 Develop timetables for implementation of corporate governance requirements in consultation with stakeholders 2.4 Detail and document internal control procedures in standardised formats to promote consistency of use |
3. Monitor policy | 3.1 Develop applications of corporate governance requirements from published sources or recognised practices 3.2 Develop and report on performance indicators to evaluate compliance with internal control procedures 3.3 Identify and evaluate variations in adoption of corporate governance requirements in operations to determine causes 3.4 Develop and implement modifications to procedures to facilitate compliance with internal control procedures |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance
Skill | Performance Criteria | Description |
Reading | 1.1-1.3, 2.1, 2.2, 3.1, 3.3 | Interprets and analyses complex information and documentation from a range of sources, including relevant legislation, to determine requirements |
Writing | 1.2, 1.3, 2.1-2.4, 3.2, 3.4 | Produces accessible guidelines and reports using clear and concise language appropriate to the audience and purpose |
Oral Communication | 2.2, 2.3, 3.2 | Effectively engages others in verbal exchanges using active listening and questioning to elicit, clarify and convey information |
Numeracy | 1.1, 2.1, 3.2 | Accurately analyses financial and numerical information embedded in a range of texts and tasks |
Navigate the world of work | 1.1-1.3, 2.1, 2.4, 3.1, 3.4 | Monitors adherence to legal and regulatory requirements and recommends and implements changes to policies, procedures or processes where these are deemed necessary |
Get the work done | 1.1-1.3, 2.1-2.4, 3.1-3.4 | Organises, plans and sequences own workload and schedules work activities of others Uses problem-solving processes to identify and analyse issues with the potential to impact on financial controls, and develop and implement options to resolve these issues Applies systematic and analytical decision-making processes in situations that impact on the work of self and others Uses a range of digital technologies to access, extract and share relevant information |
Sectors
Accounting