Assessment Requirements for FNSACC604 Monitor corporate governance activities

Release: 1

Assessment Requirements for FNSACC604 Monitor corporate governance activities

Modification History

Release	Comments
Release 1	This version first released with FNS Financial Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

research corporate governance reporting trends

determine processes for monitoring corporate governance adherence

examine and review corporate governance standards and practices following:

professional accounting standards

organisational policy and procedures

statutory and regulatory requirements.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

access and accurately interpret authority regulations and requirements

identify and explain the key features of current financial legislation, and statutory and regulatory requirements

explain the current formats required for submission of statutory returns

discuss ethical considerations relating to compliance and governance

outline the key management processes that support corporate governance

identify and explain the forms and functions of employee records

identify and explain the key principles of:

internal control

valuation and common methods of depreciation

discuss the significance of performance indicators and key result areas relevant to monitoring corporate governance activities.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

common office equipment, technology, software and consumables

an integrated financial software system and data

corporate governance documentation and organisational operational policy and procedures information.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe