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Evidence Guide: FNSCRD505 - Respond to corporate insolvency situations

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

 

FNSCRD505 - Respond to corporate insolvency situations

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

Monitor status of corporate insolvency and analyse potential risk

  1. Identify factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation
  2. Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party
  3. Discuss possible effects of actions with line manager if required to determine correct action
Identify factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discuss possible effects of actions with line manager if required to determine correct action

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine appropriate action

  1. Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor
  2. Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings
Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review circumstances which led to corporate insolvency situation

  1. Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk
  2. Implement outcome of review as required
Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement outcome of review as required

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. Monitor status of corporate insolvency and analyse potential risk

1.1 Identify factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation

1.2 Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party

1.3 Discuss possible effects of actions with line manager if required to determine correct action

2. Determine appropriate action

2.1 Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor

2.2 Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings

3. Review circumstances which led to corporate insolvency situation

3.1 Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk

3.2 Implement outcome of review as required

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. Monitor status of corporate insolvency and analyse potential risk

1.1 Identify factors in corporate client accounts that may contribute to possible corporate insolvency situations and risk factors to creditor organisation

1.2 Analyse impact of insolvency options that may be taken by liquidator, administrator, receiver or other third party

1.3 Discuss possible effects of actions with line manager if required to determine correct action

2. Determine appropriate action

2.1 Evaluate corporate insolvency actions in accordance with legislative rights and obligations of both debtor and creditor

2.2 Complete appropriate documentation in accordance with legislative requirements and organisational policy to implement appropriate action and commence legal proceedings

3. Review circumstances which led to corporate insolvency situation

3.1 Evaluate causes for corporate insolvency and review organisational procedures to determine mechanisms to identify contributing factors and prevent recurrence of loss and exposure to insolvency risk

3.2 Implement outcome of review as required

Evidence of the ability to:

follow organisational policy and procedures and legislative requirements to determine required action related to corporate insolvency

complete relevant documentation to ensure legal proceedings are undertaken correctly

evaluate circumstances of corporate insolvency and determine changes to organisational procedures as required.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

describe factors that lead to corporate insolvency

outline potential insolvency actions

describe a range of insolvency situations and risk factors for the creditor organisation

explain key features of current legislative requirements relating to corporate insolvency

explain the application of organisational policy to corporate insolvency management

identify and describe the full range of credit options within legal requirements

define relevant industry indicators of insolvency.