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 navigate through and comply with the organisation’s financial management framework, and identify and act on non-compliance.

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

Those undertaking this unit would work independently or as part of a team, under direct supervision. They must be able to use discretion and judgement and take responsibility for the quality of their outputs. They would perform complex 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  

Develop understanding of the financial management framework 

1.1 

Maintain currency of knowledge of the financial management framework

1.2 

Seek advice and guidance from colleagues to clarify financial management requirements

2 

Comply with the financial management framework 

2.1 

Uphold financial management policies and principles

2.2 

Promote compliance with financial management policies amongst colleagues

3 

Manage compliance 

3.1 

Identify and report on instances of non-compliance

3.2 

Make recommendations to management to reduce the risk of future non-compliance

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:

• accessing, interpreting and applying financial management policies
• identifying financial non-compliance.

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:

• financial statements
• the Commonwealth budget cycle
• financial systems
• instructions relating to financial management activities
• key deliverables and key performance indicators of the organisation
• the organisation’s Delegations framework
• the organisational structure
• organisational roles and responsibilities
• the purpose of the Portfolio Budget Statements (PBS) and Portfolio Additional Estimates Statements(PAES)
• the relevant legislation and organisational accounting principles and policies
• the role and purpose of:

• Department of Treasury
• Department of Finance.

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.