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Evidence Guide: FNSACC604 - Monitor corporate governance activities

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

 

FNSACC604 - Monitor corporate governance activities

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

Establish corporate governance standards and practices

  1. Monitor application of and adherence to professional and legal accounting standards to identify emerging trends and interpretations of statutory and other regulatory requirements
  2. Research audit reports and practices to assess methodologies and recommendations
Monitor application of and adherence to professional and legal accounting standards to identify emerging trends and interpretations of statutory and other regulatory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research audit reports and practices to assess methodologies and recommendations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify corporate governance reporting trends

  1. Analyse organisational practices to identify corporate governance obligations and performance
  2. Examine queries from statutory and other regulatory authorities for corporate governance failure to assess change effects on internal control procedures
  3. Assess content and structure of reports, returns and processes for review to evaluate policies being followed by organisation
Analyse organisational practices to identify corporate governance obligations and performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine processes for corporate governance adherence

  1. Analyse and monitor internal control procedures to determine performance indicators for compliance with corporate governance requirements
  2. Evaluate information technology systems to determine their use and suitability for recording data from operations and transactions for corporate governance obligations
  3. Establish management processes to support corporate governance
  4. Establish reporting plans to ensure completion of compliance requirements within scheduled timeframes
Analyse and monitor internal control procedures to determine performance indicators for compliance with corporate governance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish management processes to support corporate governance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review corporate governance compliance

  1. Assess achievement of performance indicators and review against key result areas
  2. Monitor compliance preparation processes and review in line with corporate governance requirements
  3. Analyse failures in compliance to diagnose shortcomings and to remedy processes in line with corporate governance requirements
Assess achievement of performance indicators and review against key result areas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

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. 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

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. 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