Modification History
Release |
TP Version |
Comments |
3 |
PSP12V1 |
Unit descriptor edited. |
2 |
PSP04V4.2 |
Layout adjusted. No changes to content. |
1 |
PSP04V4.1 |
Primary release. |
Unit Descriptor
This unit covers the management of risk assessment for fraud/corruption, where personnel conducting the risk assessment may be internal staff or consultants. It includes applying organisational philosophy regarding risk, selecting a risk assessment methodology, and establishing reporting and review mechanisms.
Fraud in the unit title incorporates both fraud and corruption.
In practice, managing fraud/corruption risk assessment and action plan may overlap with other generalist or specialist public sector workplace activities such as managing compliance with legislation and ethics requirements, managing risk, networking, implementing policy, managing change, etc.
This unit replaces and is equivalent to PSPFRAU602A Manage fraud risk assessment and action plan.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication
Application of the Unit
Not applicable.
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Not applicable.
Employability Skills Information
This unit contains employability skills.
Elements and Performance Criteria Pre-Content
Elements are the essential outcomes of the unit of competency. |
Together, performance criteria specify the requirements for competent performance. Text in bold italics is explained in the Range Statement following. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1 . Apply organisational philosophy regarding risk |
1.1 Stakeholders are consulted in the management of the fraud/corruption risk assessment process. 1.2 Cultural, ethical and economic perspectives of the organisation are acknowledged and applied when making decisions regarding the development and implementation of the risk assessment process in the organisation. |
2 . Select risk assessment methodology |
2.1 Selection of risk assessment methodology is based on an evaluation of a range of fraud/corruption risk management techniques, and factors such as the environment, culture and functions of the organisation. 2.2 Methodology is selected to meet the Australian standard for risk management , is compatible with the organisation's environment, culture, structure and core business and is able to be applied across all the organisation's programs and services. 2.3 Activities of personnel implementing the fraud/corruption risk assessment methodology are monitored in accordance with organisational policy and procedures. |
3 . Establish reporting and review mechanisms |
3.1 The identification of appropriate actions to be implemented is included in reporting mechanisms. 3.2 Review mechanisms are established that acknowledge the need for flexibility and the ongoing nature of the fraud/corruption risk assessment process. 3.3 Reporting mechanisms are established to allow for advice to be provided at opportune times to facilitate a flexible response by management to any deficiencies identified. 3.4 Reporting mechanisms are established to meet the requirements of standards-setting organisations. |
Required Skills and Knowledge
This section describes the essential skills and knowledge and their level, required for this unit. |
Skill requirements Look for evidence that confirms skills in:
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Knowledge requirements
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Evidence Guide
The Evidence Guide specifies the evidence required to demonstrate achievement in the unit of competency as a whole. It must be read in conjunction with the Unit descriptor, Performance Criteria, the Range Statement and the Assessment Guidelines for the Public Sector Training Package. |
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Units to be assessed together |
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Overview of evidence requirements |
In addition to integrated demonstration of the elements and their related performance criteria, look for evidence that confirms:
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Resources required to carry out assessment |
These resources include:
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Where and how to assess evidence |
Valid assessment of this unit requires:
Assessment methods should reflect workplace demands, such as literacy, and the needs of particular groups, such as:
Assessment methods suitable for valid and reliable assessment of this competency may include, but are not limited to, a combination of 2 or more of:
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For consistency of assessment |
Evidence must be gathered over time in a range of contexts to ensure the person can achieve the unit outcome and apply the competency in different situations or environments |
Range Statement
The Range Statement provides information about the context in which the unit of competency is carried out. The variables cater for differences between States and Territories and the Commonwealth, and between organisations and workplaces. They allow for different work requirements, work practices and knowledge. The Range Statement also provides a focus for assessment. It relates to the unit as a whole. Text in bold italics in the Performance Criteria is explained here. |
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Stakeholders may include: |
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Risk assessment may include: |
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Factors affecting fraud/corruption risk management may include: |
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Australian standard for risk management is: |
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Unit Sector(s)
Not applicable.
Competency field
Fraud Control.