Application
This unit describes the skills required to have detailed knowledge of the public sector financial framework, a working knowledge of external requirements and the application of these to work in a specialist finance role in the public sector. It includes identifying and implementing public sector requirements for financial services.
This unit applies to those working in the public sector with specialist knowledge of public sector financial framework and its applications.
The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to.
Those undertaking this unit would work autonomously with some supervision of others, performing complex tasks in a familiar context.
No licensing, legislative or certification requirements apply to unit at the time of publication.
Elements and Performance Criteria
ELEMENTS | PERFORMANCE CRITERIA |
Elements describe the essential outcomes | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section. |
1. Identify public sector requirements for financial management | 1.1 Identify the elements of the public sector financial management compliance framework as these relate to the organisation and confirm requirements regarding the application of them. 1.2 Identify delegation requirements relating to work functions throughout the organisation. 1.3 Identify and clarify internal financial control principles and operational mechanisms within the organisation with senior finance staff. 1.4 Locate public sector financial policies and procedures relating to the work role and the organisation and identify the requirements of them. |
2. Implement public sector financial management requirements | 2.1 Provide financial services. 2.2 Provide advice, within the limits of responsibility, regarding public sector financial policies and procedures and accounting standards. 2.3 Develop and review organisational procedures to reflect the requirements of public sector financial policy, guidelines and procedures. 2.4 Differentiate levels of delegation, assess work situations and explain and implement delegation requirements relating to functions. 2.5 Apply internal control mechanisms within an organisational context. |
Evidence of Performance
Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the candidate must demonstrate evidence of performance of the following on at least one occasion.
reading complex and formal documents, including legislation, policies, procedures, and accounting standards, and providing advice on their interpretation and application
adjusting communication to suit different audiences
using financial applications for entering data and preparing reports requiring accuracy of expression
applying delegations
working in accordance with public sector industry benchmarks
accessing information and legislation electronically or in hard copy
applying environmental and work health and safety procedures relating to working in the public sector
applying numeracy skills and reading and interpreting financial information
Evidence of Knowledge
Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the depth of knowledge demonstrated must be appropriate to the job context of the candidate.
public sector legislation including work health and safety and environment, policies and processes relating to public sector finance
public sector financial management compliance framework (detailed knowledge) and the relationship of the elements of the framework
documents that make up the financial management compliance framework
delegations and why the public sector uses them
internal controls, mechanisms for internal controls and why these are used
separation of duties
corporate governance requirements/relationship of financial management compliance framework to organisational structures
service level agreements
accrual accounting principles
ethics/code of conduct
Assessment Conditions
This unit contains no specific industry-mandated assessment conditions. Guidance on suggested and recommended conditions and methods can be found in the Implementation Guide.
Assessors must satisfy the NVR/AQTF mandatory competency requirements for assessors.
Foundation Skills
Foundation skills are embedded within the elements and performance criteria of this unit.
Competency Field
General