Assessment Requirements for FNSACC609 Evaluate financial risk

Release: 2

Assessment Requirements for FNSACC609 Evaluate financial risk

Modification History

Release	Comments
Release 2	This version first released with FNS Financial Services Training Package Version 3.1 Update to pre-requisite unit code

Performance Evidence

Evidence of the ability to:

apply standard financial analysis techniques and knowledge of an organisation’s attitude to risk to identify and assess financial risk

develop risk management processes that comply with relevant ethical, legislative and organisational requirements

establish processes to minimise risks based on analysis of financial histories.

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:

identify and discuss the key ethical considerations for compliance

explain the key features of financial legislation relevant to financial risk and compliance

compare and contrast methods of storing, recording and updating financial information and data

explain the key principles of:

internal control, including statutory reporting

risk management and budgetary control

explain organisational structures and lines of management authority.

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.

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