Unit of competency details

Unit descriptor 

This unit describes the performance outcomes, skills and knowledge required to account for and manage the organisation's assets.

Some aspects of governance activities may be subject to legislation, rules, regulations and codes of practice relevant to different job roles and jurisdictions.

Application of the unit 

This unit applies to individuals responsible for ensuring the organisation's assets are effectively managed.

Prerequisite units 

Employability skills 

This unit contains employability skills.

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

ELEMENT 

PERFORMANCE CRITERIA 

1. Develop and implement policies and procedures for the management of assets

1.1. Work with other board members and staff to develop policies and procedures for managing assets that comply with legal and contractual requirements

1.2. Follow policies and administrative procedures  regarding the purchase, use, storage, maintenance and disposal of assets

2. Ensure asset records are established

2.1. Ensure responsibility for establishing an asset register  of the organisation's movable assets , and the recording and storage of asset documents , is delegated by the board to an appropriate person or persons

2.2. Check that the register has been established and that appropriate asset documents are stored securely

3. Ensure that assets and records are maintained

3.1. Receive and review reports with respect to assets to ensure they are up-to-date and complete

3.2. Ensure appropriate procedures are in place and followed to undertake asset repairs

3.3. Ensure appropriate procedures are in place and followed to report and document asset damage, loss or theft

3.4. Develop an action plan to follow up asset management issues that arise

3.5. Ensure asset records comply with funding providers' requirements

4. Ensure insurance cover is in place

4.1. Ensure appropriate procedures are in place and followed to arrange and maintain insurance following asset acquisition

4.2. Identify authorised signatories for claims for damage, loss or theft

4.3. Ensure claims are submitted in a timely manner and include required evidence of loss

5. Oversee an annual internal audit of assets

5.1. Ensure items recorded in the asset register are checked annually

5.2. Ensure the asset register is updated with current information following the internal audit

5.3. Investigate discrepancies found in the asset register

5.4. Propose changes to policies and procedures if required

6. Oversee acquisition and disposal of assets

6.1. Approve acquisitions and disposal of assets in line with existing plans and budgets

6.2. Ensure funding body requirements regarding asset acquisition and disposal are met

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the skills and knowledge required for this unit.

Required skills 

• communication and teamwork skills to work cooperatively with other board members, management and staff of the organisation, members, community and key stakeholders
• culturally appropriate communication skills to relate to people from diverse backgrounds and with diverse abilities
• evaluation and decision-making skills tomonitor and review information presented to the board and enact decisions
• numeracy skills to review asset reports and identify discrepancies
• oral, diagrammatic or written literacy skills to be able to gather and share information
• problem-solving skills to identify and manage issues that arise in the management of assets

Required knowledge 

• asset auditing procedures
• asset purchasing and disposal procedures
• funding body requirements with regard to assets
• geographic, cultural, social, economic and political context in which particular organisations operate and how that may impact on the management of assets
• organisational procedures and processes with respect to assets
• provisions of federal, state or territory legislation and funding body requirements that have an impact on the management of assets
• record-keeping requirements with regard to assets
• relevant protocols and cultural responsibilities with respect to the management of assets

EVIDENCE GUIDE 

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment 

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

Evidence of the ability to:

• work with others to develop policies and procedures for managing assets
• follow policies and procedures for managing assets.

Context of and specific resources for assessment 

Assessment must ensure:

• participation on an actual or simulated board
• access to examples of asset registers
• access to examples of relevant asset policy and procedures
• access to examples of relevant documentsand reports
• knowledge and performance are assessed over time to confirm consistency in performance.

Method of assessment 

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

• observation of performance on a board or simulated board
• direct questioning combined with reflection of practical board performance by the candidate
• analysis of responses to case studies and scenarios
• demonstration of techniques
• observation of presentations
• oral or written questioning to assess knowledge
• observation of performance in role plays
• analysis of feedback from others involved in the management of assets.

Guidance information for assessment 

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

• BSBATSIM418A Oversee financial management
• BSBATSIW417C Select and use technology.

RANGE STATEMENT 

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Administrative procedures  may include:

• asset disposal
• internal audit
• invoices and receipts
• identification labelling
• insurance
• purchasing
• use and control.

Asset register :

• may be computer-based or manual records
• may include:

• additions
• date of purchase
• identifying numbers
• insurance claims
• location
• loss or theft
• major repairs
• obsolescence
• value.

Movable assets  may include:

• artworks
• cultural items
• goods
• office furniture
• plant and equipment
• vehicles.

Asset documents  may include:

• guarantees
• invoices and receipts
• insurance documentation
• maintenance records
• titles and certificates
• warranties.

Unit sector 

Competency field 

Regulation, licensing and risk - ATSI governance

Co-requisite units