Release 1. This is the first release of this unit of competency in the DEF Defence Training Package.

This unit describes the skills required to provide support to the management of Defence financial governance requirements.

This unit applies to those working in the public sector Finance Domain who would be required to undertake financial administration activities.

The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to government financial management.

Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform routine tasks in familiar context.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Not applicable.

Financial Management

Not applicable.

ELEMENTS 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

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

1  

Review financial governance requirements 

1.1 

Identify financial governance and ethical requirements to determine application to operations

1.2 

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

1.3 

Review internal control procedures

2 

Monitor adherence to compliance requirements 

2.1 

Monitor financial operations to identify incidences of non-compliance

2.2 

Review sources of information on potential non-compliance

2.3 

Monitor financial management information system to identify any indication of non-compliance

3 

Liaise with others during breach management 

3.1 

Liaise with relevant regulatory authorities

3.2 

Seek advice from relevant internal and external personnel on the classification and management of non-compliance

4 

Monitor policy 

4.1 

Report on performance indicators

4.2 

Identify variations in adoption of corporate governance requirements in operations

4.3 

Implement solutions to facilitate compliance with internal control procedures

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

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.

No equivalent unit.

Release 1. This is the first release of this unit of competency in the DEF Defence Training Package.

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:

• implementing processes for managing financial non-compliance
• liaising with stakeholders
• monitoring financial compliance requirements, including:

• monitoring information systems
• identifying and informing senior management and regulatory authorities of incidents of non-compliance
• seeking advice from internal and external personnel
• investigating instances of non-compliance

• obtaining and keeping up to date with financial compliance requirements
• preparing reports.

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:

• analysis techniques relevant to review and interpret an identified non-compliance
• compliance requirements applicable to the organisation
• elements of a compliance management system
• financial responsibilities for compliance
• organisational standards for operations and ethics
• potential incidents of non-compliance
• procedures for managing incidents of non-compliance
• relevant legislation and organisational policies and procedures
• reporting processes on compliance management, including reports on non-compliance and remediation.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment must include access to:

• a range of relevant exercises, case studies and/or other simulations
• relevant and appropriate materials, tools, equipment and personal protective equipment (PPE) currently used in industry
• applicable documentation, including workplace procedures, regulations, codes of practice and operation manuals
• acceptable means of simulated assessment.