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Evidence Guide: DEFFIN003 - Ensure financial data quality

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

DEFFIN003 - Ensure financial data quality

What evidence can you provide to prove your understanding of each of the following citeria?

Uphold data quality principles

  1. Apply Chart of Accounts to financial data
  2. Maintain financial records
Apply Chart of Accounts to financial data

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Maintain financial records

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Reconcile financial data

  1. Identify source data to be reconciled
  2. Identify subsidiary systems, documents and records to reconcile against
  3. Identify, investigate and explain variances
  4. Detect and rectify errors
Identify source data to be reconciled

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify subsidiary systems, documents and records to reconcile against

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Identify, investigate and explain variances

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Detect and rectify errors

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Review and improve data quality in the workplace

  1. Identify failure points in data management process
  2. Determine appropriate controls to address relevant risks
  3. Evaluate the effectiveness of key data quality controls
  4. Address control deficiencies
Identify failure points in data management process

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Determine appropriate controls to address relevant risks

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Evaluate the effectiveness of key data quality controls

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Address control deficiencies

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1

Uphold data quality principles

1.1

Apply Chart of Accounts to financial data

1.2

Maintain financial records

2

Reconcile financial data

2.1

Identify source data to be reconciled

2.2

Identify subsidiary systems, documents and records to reconcile against

2.3

Identify, investigate and explain variances

2.4

Detect and rectify errors

3

Review and improve data quality in the workplace

3.1

Identify failure points in data management process

3.2

Determine appropriate controls to address relevant risks

3.3

Evaluate the effectiveness of key data quality controls

3.4

Address control deficiencies

Required Skills and Knowledge

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1

Uphold data quality principles

1.1

Apply Chart of Accounts to financial data

1.2

Maintain financial records

2

Reconcile financial data

2.1

Identify source data to be reconciled

2.2

Identify subsidiary systems, documents and records to reconcile against

2.3

Identify, investigate and explain variances

2.4

Detect and rectify errors

3

Review and improve data quality in the workplace

3.1

Identify failure points in data management process

3.2

Determine appropriate controls to address relevant risks

3.3

Evaluate the effectiveness of key data quality controls

3.4

Address control deficiencies

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

analysing data and information

complying with data quality control systems

identifying, interpreting and complying with Departmental data management requirements

identifying key variances and rectifying errors

identifying risks and relevant risk control measures.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

financial data quality assurance principles and practices

relevant legislation and organisational record management policies and processes

the Chart of Accounts framework.

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions may be found in the Companion Volume Implementation Guide.