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Evidence Guide: FNSACC506 - Implement and maintain internal control procedures

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

 

FNSACC506 - Implement and maintain internal control procedures

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

Review corporate governance requirements

  1. Identify and analyse corporate governance and ethical requirements to determine application to operations
  2. Access clarifications on application of corporate governance requirements from authoritative and recognised sources
  3. Review and develop internal control procedures, reflecting application of corporate governance requirements to internal operations
Identify and analyse corporate governance and ethical requirements to determine application to operations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Access clarifications on application of corporate governance requirements from authoritative and recognised sources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review and develop internal control procedures, reflecting application of corporate governance requirements to internal operations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement operating procedures

  1. Maintain and review financial delegations and accountabilities to ensure consistency and compliance with internal control procedures
  2. Produce, review and distribute required reports within agreed timelines
  3. Develop timetables for implementation of corporate governance requirements in consultation with stakeholders
  4. Detail and document internal control procedures in standardised formats to promote consistency of use
Maintain and review financial delegations and accountabilities to ensure consistency and compliance with internal control procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Produce, review and distribute required reports within agreed timelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop timetables for implementation of corporate governance requirements in consultation with stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Detail and document internal control procedures in standardised formats to promote consistency of use

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor policy

  1. Develop applications of corporate governance requirements from published sources or recognised practices
  2. Develop and report on performance indicators to evaluate compliance with internal control procedures
  3. Identify and evaluate variations in adoption of corporate governance requirements in operations to determine causes
  4. Develop and implement modifications to procedures to facilitate compliance with internal control procedures
Develop applications of corporate governance requirements from published sources or recognised practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and report on performance indicators to evaluate compliance with internal control procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and evaluate variations in adoption of corporate governance requirements in operations to determine causes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and implement modifications to procedures to facilitate compliance with internal control procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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