Course Title: Monitor corporate governance activities

Part B: Course Detail

Teaching Period: Term1 2008

Course Code: ACCT5204C

Course Title: Monitor corporate governance activities

School: 650T TAFE Business

Campus: City Campus

Program: C6072 - Advanced Diploma of Accounting

Course Contact : Angelo Sellan

Course Contact Phone: +61 3 9925 5460

Course Contact Email:angelo.sellan@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 60

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.

Pre-requisites and Co-requisites

None.

Course Description

This unit covers the competency to develop and implement processes and procedures for meeting corporate governance obligations.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT604A Monitor corporate governance activities

Element:

Determine process for corporate governance adherence

Performance Criteria:

<!--[if !supportLists]-->1.1.    <!--[endif]-->Internal control procedures are analysed and monitored to determine performance indicators for compliance with corporate governance requirements.<o:p></o:p>

<!--[if !supportLists]-->1.2.    <!--[endif]-->Information technology systems are evaluated to determine their use and suitability for recording data from operations and transactions for corporate governance obligations.<o:p></o:p>

<!--[if !supportLists]-->1.3.    <!--[endif]-->Management processes to support corporate governance are established.<o:p></o:p>

<!--[if !supportLists]-->1.4.    <!--[endif]-->Reporting plans are established to ensure completion of compliance requirements within scheduled timeframes.<o:p></o:p>

Element:

Examine corporate governance standards and practices

Performance Criteria:

<!--[if !supportLists]-->1.1.    <!--[endif]-->Application of and adherence to professional and legal accounting standards is monitored to identify emerging trends and interpretations of statutory and other regulatory requirements.<o:p></o:p>

<!--[if !supportLists]-->1.2.    <!--[endif]-->Audit reports and practices are researched to assess methodologies and recommendations.<o:p></o:p>

Element:

Research corporate governance reporting trends

Performance Criteria:

<!--[if !supportLists]-->1.1.    <!--[endif]-->Organisational practices are analysed to identify corporate governance obligations and performance.<o:p></o:p>

<!--[if !supportLists]-->1.2.    <!--[endif]-->Queries from statutory and other regulatory authorities for corporate governance failure are examined to assess the change effects on internal control procedures.<o:p></o:p>

<!--[if !supportLists]-->1.3.    <!--[endif]-->Content and structure of reports, returns and processes for review are assessed to evaluate policies being followed by organisation.<o:p></o:p>

Element:

Review corporate governance compliance

Performance Criteria:

<!--[if !supportLists]-->1.1.    <!--[endif]-->The achievement of performance indicators is assessed and reviewed against key result areas.<o:p></o:p>

<!--[if !supportLists]-->1.2.    <!--[endif]-->Compliance preparation processes are monitored and reviewed in line with corporate governance requirements.<o:p></o:p>

<!--[if !supportLists]-->1.3.    <!--[endif]-->Failures in compliance are analysed to diagnose shortcomings and to remedy processes in line with corporate governance requirements.<o:p></o:p>


Learning Outcomes


Please refer to Elements of Competency.


Details of Learning Activities

Recent corporate collapses and changing social attitudes have shifted the parameters of what is required of companies, in particular companies are expected to develop their own structures and procedures to ensure effective management and acceptable standards of corporate accountability and social responsibility.<o:p></o:p>

By employing a number of activities including lecturing, tutoring, case studies of recent corporate collapses, use of internet, and reference to various relevant web sites together with practical exercises and assessment, the student will investigate / study the role, function and relevant elements of this dynamic area.


Teaching Schedule

<h2>Date</h2>

Teaching week

Topic Outline<o:p></o:p>

11/02<o:p></o:p>

1<o:p></o:p>

Introduction to the issues / themes / regulatory framework of Corporate Governance <o:p></o:p>

18/02<o:p></o:p>

2<o:p></o:p>

Steps / considerations to register a company in Australia. Internal management rules<o:p></o:p>

25/02<o:p></o:p>

3<o:p></o:p>

Directors: Types, Role of the Board, What constitutes an officer of a company Sec 9 Corporations Act. Eligibility to be director, Disqualification from managing a corporation.<o:p></o:p>

03/03<o:p></o:p>

4<o:p></o:p>

Director’s duties: Act bona fide in the interests of the company: Avoid undisclosed conflicts of interest<o:p></o:p>

10/03<o:p></o:p>

5<o:p></o:p>

Directors duties: Act with reasonable care, skill and diligence, Duty not to trade whilst insolvent<o:p></o:p>

17/03<o:p></o:p>

6<o:p></o:p>

Corporate collapses in Australia and abroad, recurring themes. 10 Principles of corporate governance.<o:p></o:p>

Howarth Report

<o:p></o:p>

24/03<o:p></o:p>

31/03<o:p></o:p>

7<o:p></o:p>


Principle 1: Lay solid foundations for management and oversight
Principle 2: Structure the Board to add value <h3> </h3>

07/04<o:p></o:p>

8<o:p></o:p>

Assessment week for all courses.<o:p></o:p>

14/04<o:p></o:p>

9<o:p></o:p>

Principle 3: Promote ethical and responsible decision making,<o:p></o:p>

Principles of Ethics

<o:p></o:p>

21/04<o:p></o:p>

10<o:p></o:p>


Principle 4: Safeguard integrity in financial reporting

28/04<o:p></o:p>

11<o:p></o:p>

Principle 5: Make timely and balanced disclosure<o:p></o:p>

Statutory Disclosure<o:p></o:p>

05/05<o:p></o:p>

12<o:p></o:p>

Principle 6: Respect the rights of shareholders<o:p></o:p>

Members meetings, Members rights and remedies.<o:p></o:p>

12/05<o:p></o:p>

13<o:p></o:p>

<h6>Principle 7: Recognise and manage risk.<o:p></o:p></h6>

19/05<o:p></o:p>

14<o:p></o:p>

Principle 8: Remunerate fairly and responsibly<o:p></o:p>

26/05<o:p></o:p>

15<o:p></o:p>

Revision<o:p></o:p>

02/06<o:p></o:p>

16<o:p></o:p>

Test - 50%<o:p></o:p>

09/06<o:p></o:p>

17<o:p></o:p>

<h6 align="center" style="text-align: center;">Resits<o:p></o:p></h6>

16/06<o:p></o:p>

18<o:p></o:p>

<h6 align="center" style="text-align: center;">Feedback<o:p></o:p></h6>


Learning Resources

Prescribed Texts


References


Other Resources

Materials and references to be provided on DLS


Overview of Assessment

Assessment is designed so as to intermittently provide the student with feedback relating to progress; and, as a guide to direct the student to further study of specific areas within the course. Assessment may include, but is not restricted to the following, class exercises, assignments, keeping of journals, presentations and case studies. The final assessment plan being dependent on the circumstances prevailing.


Assessment Tasks

Six work tasks 50%
One final test 50%
Total 100%


Assessment Matrix

Element<o:p></o:p>

Task 1<o:p></o:p>

Task 2<o:p></o:p>

Task 3<o:p></o:p>

Task 4<o:p></o:p>

Task 5<o:p></o:p>

Task 6<o:p></o:p>

Final Test<o:p></o:p>

One<o:p></o:p>

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Two<o:p></o:p>

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<o:p> </o:p>

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Three<o:p></o:p>

<o:p> </o:p>

<o:p> </o:p>

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Four<o:p></o:p>

<o:p> </o:p>

<o:p> </o:p>

&uuml;<o:p></o:p>

<o:p> </o:p>

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<o:p> </o:p>

&uuml;<o:p></o:p>

Course Overview: Access Course Overview