Course Title: Monitor corporate governance activities
Part B: Course Detail
Teaching Period: Term2 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
Thomas Scordo
thomas.scordo@rmit.edu.au
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 pages, 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<o:p></o:p></h2> | Teaching week<o:p></o:p> |
Topic Outline<o:p></o:p> |
Performance<o:p></o:p> Criteria<o:p></o:p> |
Assessment<o:p></o:p> Timetable<o:p></o:p> Guide Only<o:p></o:p> |
July 7<o:p></o:p> |
1<o:p></o:p> |
Introduction to the issues / themes / regulatory framework of Corporate Governance <o:p></o:p> |
3.1<o:p></o:p> |
<o:p> </o:p> |
July 14<o:p></o:p> |
2<o:p></o:p> |
Steps / considerations to register a company in . Internal management rules<o:p></o:p> |
<h2>1.1, 1.2, 1.3<o:p></o:p></h2> | <h2><o:p> </o:p></h2> |
July 21<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> |
<h6 align="center" style="text-align: center;">1.1, 2.3, 3.1, 3.2, 4.2<o:p></o:p></h6> | <h6 align="center" style="text-align: center;"><o:p> </o:p></h6> <h6 align="center" style="text-align: center;">Task 1<o:p></o:p></h6> |
July 28<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> |
<h6 align="center" style="text-align: center;">1.1, 2.3, 3.1<o:p></o:p></h6> | <h6 align="center" style="text-align: center;"><o:p> </o:p></h6> |
Aug 4<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> |
<h2>1.1, 2.3, 3.1<o:p></o:p></h2> | <h2>Task 2<o:p></o:p></h2> |
Aug 11<o:p></o:p> |
6<o:p></o:p> |
Corporate collapses in and abroad, recurring themes. 10 Principles of corporate governance.<o:p></o:p> Howorth Report<o:p></o:p> |
<h2>2.1, 4.3<o:p></o:p></h2> | <h2><o:p> </o:p></h2> |
Aug 18<o:p></o:p> |
7<o:p></o:p> |
<h3>Principle 1: Lay solid foundations for management and oversight & Principle 2: Structure the Board to add value. <o:p></o:p></h3> | <h2>1.1, 2.3<o:p></o:p></h2> | <h2>Task 3<o:p></o:p></h2> |
Aug 25<o:p></o:p> |
8<o:p></o:p> |
Assessment week for most courses<o:p></o:p> |
<h2><o:p> </o:p></h2> | <h2><o:p> </o:p></h2> |
Sept 1<o:p></o:p> |
<o:p> </o:p> |
MID SEMESTER BREAK<o:p></o:p> |
<h2><o:p> </o:p></h2> | <h2><o:p> </o:p></h2> |
Sept 8<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> |
<h2>1.1, 2.1, 2.2, 2.3<o:p></o:p></h2> | <o:p> </o:p> |
Sept 15<o:p></o:p> |
10<o:p></o:p> |
<h3>Principle 4: Safeguard integrity in financial reporting.<o:p></o:p></h3>
<o:p> </o:p> |
<h2>1.1, 3.1, 3.2<o:p></o:p></h2> | Task 4<o:p></o:p> |
Sept 22<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> |
1.1, 2.4,<o:p></o:p> |
<o:p> </o:p> |
Sept 29<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> |
1.1, 1.3, <o:p></o:p> |
Task 5<o:p></o:p> |
Oct 6<o:p></o:p> |
13<o:p></o:p> |
<h6>Principle 7: Recognise and manage risk.<o:p></o:p></h6> | 1.1, 1.2, 1.3, 2.1, 2.2, 2.3,<o:p></o:p> |
<h2><o:p> </o:p></h2> |
Oct 13<o:p></o:p> |
14<o:p></o:p> |
Principle 8: Remunerate fairly and responsibly<o:p></o:p> |
<h2>4.1,<o:p></o:p></h2> | Task 6<o:p></o:p> |
Oct 20<o:p></o:p> |
15<o:p></o:p> |
Revision<o:p></o:p> |
<o:p> </o:p> |
<o:p> </o:p> |
Oct 27<o:p></o:p> |
16<o:p></o:p> |
Assessment Week<o:p></o:p> |
<h2><o:p> </o:p></h2> | <h2>Test - 50%<o:p></o:p></h2> |
Nov 3<o:p></o:p> |
17<o:p></o:p> |
<h6 align="center" style="text-align: center;">Resits<o:p></o:p></h6> | <o:p> </o:p> |
<o:p> </o:p> |
Nov 10<o:p></o:p> |
18<o:p></o:p> |
<h6 align="center" style="text-align: center;">Feedback and results<o:p></o:p></h6> | <o:p> </o:p> |
<o:p> </o:p> |
Learning Resources
Prescribed Texts
Corporate Governance 2<sup>nd</sup> Edtn. Christine A. Mallin. Oxford University Press. |
References
Other Resources
Other notes / materials as supplied in the 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 in class tasks 50%
(All tasks carry a weight of 8% except for task 2 which carries a weight of 10%)
One open book test 50%
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> |
ü<o:p></o:p> |
ü<o:p></o:p> |
<o:p> </o:p> |
<o:p> </o:p> |
<o:p> </o:p> |
<o:p> </o:p> |
ü<o:p></o:p> |
Two<o:p></o:p> |
<o:p> </o:p> |
ü<o:p></o:p> |
<o:p> </o:p> |
ü<o:p></o:p> |
<o:p> </o:p> |
ü<o:p></o:p> |
ü<o:p></o:p> |
Three<o:p></o:p> |
<o:p> </o:p> |
<o:p> </o:p> |
ü<o:p></o:p> |
ü<o:p></o:p> |
ü<o:p></o:p> |
ü<o:p></o:p> |
ü<o:p></o:p> |
Four<o:p></o:p> |
<o:p> </o:p> |
<o:p> </o:p> |
ü<o:p></o:p> |
<o:p> </o:p> |
ü<o:p></o:p> |
<o:p> </o:p> |
ü<o:p></o:p> |
Course Overview: Access Course Overview