Course Title: Implement and maintain internal control procedures

Part A: Course Overview

Program: C5374 Diploma of Accounting

Course Title: Implement and maintain internal control procedures

Portfolio: BUS Portfolio Office

Nominal Hours: 40

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BUSM7942C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

Term1 2017,
Term2 2017

Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 5982

Course Contact Email: ben.sethia@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to review corporate governance requirements, implement operating procedures and monitor policy.

It applies to individuals who use specialised knowledge and analytical skills to ensure organisational policy, compliance and quality requirements are met.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSACC506 Implement and maintain internal control procedures

Elements:

1. Review corporate governance requirements

2. Implement operating procedures

3. Monitor policy


Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • interpret and comply with corporate governance requirements, organisational policy, and financial delegations and accountabilities
  • review corporate governance requirements and implement effective operating procedures
  • monitor policy and relevant financial legislation

Knowledge Evidence

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

  • discuss ethical considerations and confidentiality for management and handling of files and records
  • identify and explain the key features of financial legislation relating to taxable transactions and reporting requirements
  • explain a range of methods of work practices and routines relevant to internal control procedures
  • describe the key requirements of organisational policy and procedures relating to:
    • corporate governance
    • financial delegations and accountabilities
  • identify and explain the key principles of internal control and auditing

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
  • corporate governance documentation
  • organisational operational policy and procedures information 

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.