Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with BSB Business Services Training Package Version 1.0. |
Application
This unit describes the performance outcomes, skills and knowledge required to develop and implement procedures to ensure the organisation meets its corporate governance obligations. It covers researching corporate governance trends, standards and practices, establishing processes to promote compliance, reviewing compliance and taking corrective action on non-compliances.
It applies to individuals in any sector or type of organisation with responsibility for monitoring and managing compliance to corporate governance requirements.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Management and Leadership – Management
Elements and Performance Criteria
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 the application of, and adherence to, professional and legal standards to identify emerging trends and interpretations of statutory and other regulatory requirements 1.2 Research governance 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 Review queries from statutory and other regulatory authorities for corporate governance failure to identify the need for changes to internal control procedures 2.3 Analyse the organisation's governance reports, returns and review processes to identify to identify whether they meet current requirements |
3. Determine processes for corporate governance adherence |
3.1 Analyse internal control procedures to determine corporate governance compliance performance indicators 3.2 Evaluate whether information technology systems meet corporate governance obligations for recording data from operations and transactions 3.3 Establish management processes to support corporate governance 3.4 Establish reporting plans to ensure the organisation meets compliance and reporting deadlines |
4. Review corporate governance compliance |
4.1 Monitor compliance performance indicators 4.2 Monitor compliance preparation processes for compliance 4.3 Analyse non-compliances to identify cause/s and implement corrective actions |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
1.2, 2.1-2.3, 3.1, 3.3, 3.4 |
|
Writing |
3.3, 3.4 |
|
Navigate the world of work |
1.1, 2.1-2.3, 3.1, 3.2, 3.4 |
|
Get the work done |
1.1, 3.1-3.4, 4.1-4.3 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
BSBMGT623 Monitor corporate governance activities |
Not applicable |
New unit |
No equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10