Course Title: Monitor corporate governance activities

Part B: Course Detail

Teaching Period: Term2 2011

Course Code: ACCT5260C

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

Name and Contact Details of All Other Relevant Staff

Colin Byron

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


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:

FNSACCT604B Monitor corporate governance activities


1. Research corporate governance reporting trends

Performance Criteria:

1.1.Organisational practices are analysed to identify corporate governance obligations and performance.
1.2.Queries from statutory and other regulatory authorities for corporate governance failure are examined to assess the change effects on internal control procedures.
1.3.Content and structure of reports, returns and processes for review are assessed to evaluate policies being followed by organisation.


2. Determine processes for corporate governance adherence

Performance Criteria:

2.1.Internal control procedures are analysed and monitored to determine performance indicators for compliance with corporate governance requirements.
2.2.Information technology systems are evaluated to determine their use and suitability for recording data from operations and transactions for corporate governance obligations.
2.3.Management processes to support corporate governance are established.
2.4.Reporting plans are established to ensure completion of compliance requirements within scheduled timeframes.


3. Examine corporate governance standards and practices

Performance Criteria:

3.1.Application of and adherence to professional and legal accounting standards is monitored to identify emerging trends and interpretations of statutory and other regulatory requirements.
3.2.Audit reports and practices are researched to assess methodologies and recommendations.


4. Review corporate governance compliance

Performance Criteria:

4.1.The achievement of performance indicators is assessed and reviewed against key result areas.
4.2.Compliance preparation processes are monitored and reviewed in line with corporate governance requirements.
4.3.Failures in compliance are analysed to diagnose shortcomings and to remedy processes in line with corporate governance requirements.

Learning Outcomes

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.
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

DateTopicElementAssessment (Denotes week in which assessment is due or to be conducted
 July 4Introduction to the issues / themes / regulatory framework of Corporate Governance. Definitions of corporate governance. Need for corporate governance at a macro and micro level. Elements of corporate governance. 1,2,3,4 
 July 11Company failures / failings, recurring themes.
Macro level HIH, Enron, etc. Micro level, failings in risk management and compliance (articles as examples)
 July 18ASX Corporate Governance Council’s Corporate Governance Principles & Recommendations.
Principle 7: Recognise and manage risk.
Risk management process. Standard AS/NZS 4360: 2006 Risk Managemen
 July 25Principle 7: Recognise and manage risk.
Risk management process. Types of risk; greater focus on compliance risk. Internal control; environmental factors and procedural aspects
 Aug 1Principle 7: Recognise and manage risk.
Risk management process. Types of risk; greater focus on compliance risk. Compliance standard AS 3806 - 2006 and internal control procedures / policies for managing the risks
 Aug 8Writing policy documents 1,2,3,4 Presentation One from major assignment.
 Aug 15Writing policy documents.
Common assessment week for most courses
Mid Semester Break – 29 Aug – 2 Septembe
 1,2,3,4 Monitoring of assignment progress and feedback
 Aug 22Role of the Board; importance to corporate governance. Directors; Types What constitutes an officer of a company Sec 9 Corporations Act. Eligibility to be director, Disqualification from managing a corporation.
Director’s duties:
 1,2,3,4 Monitoring of assignment progress and feedback
 Sept 5Principle 1: Lay solid foundations for management and oversight.
Principle 2: Structure the board to add value
 1,2,3,4 Monitoring of assignment progress and feedback
 Sept 12Principle 3: Promote ethical and responsible decision making,
Principles of Ethics
Principle 4: Safeguard integrity in financial reportin
 1,2,3,4 Presentation Two and submission relevant documents from 1st cycle of major assignment
 Sept 19Principle 5: Make timely and balanced disclosure.
Continuous disclosure requirement
 1,2,3,4 Monitoring of assignment progress and feedback
 Sept 26Principle 6: Respect the rights of shareholders & Principle 8: Remunerate fairly and responsibly 1,2,3,4 Monitoring of assignment progress and feedback
 Oct 3Students will work on 2nd cycle of assignment. Observation and oral questioning will make up part of assessment. Feedback will be provided feedback will be provided on an individual basis. 1,2,3,4 Monitoring of assignment progress and feedback
 Oct 10Students will work on 2nd cycle of assignment. Observation and oral questioning will make up part of assessment. Feedback will be provided feedback will be provided on an individual basis. 1,2,3,4 Monitoring of assignment progress and feedback
 Oct 17Students will work on 2nd cycle of assignment. Observation and oral questioning will make up part of assessment. Feedback will be provided feedback will be provided on an individual basis. 1,2,3,4 Submission of relevant documents from 2nd cycle of major assignment
 Oct 24 Final week for resubmissions 1,2,3,4 
Oct 31For Graded Assessment only 1,2,3,4 Optianal test used for grading purposes only

Learning Resources

Prescribed Texts


Other Resources

All resources required are provided on DLS

Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.

Assessment Tasks

One (1) major assignment. This assignment is used to determine competency. To be successful in this unit of competency a student must be able to demonstrate competency in the required tasks as outlined by the assignment. The assignment includes two (2) presentations. The first presentation will require students to report on a specific broad ranging legislation, with reference to its; purpose, key compliance issues affecting companies, and potential liability to companies and or others i.e. directors / officers in the event of non compliance. The second presentation will be the culmination of the assignment; students will report on a specific legislative compliance risk, and the corporate governance framework, methodologies and processes designed to address and effectively manage and monitor that risk. A hard copy report, along with a policy and procedures manual detailing the above will form the core of the assignment and will need to be handed to your instructor on the day of the 2nd presentation. This will complete cycle 1 (1st cycle). The same assignment is repeated (without presentations) but a different specific legislation must be selected, this will be submitted in week 15 (2nd Cycle)

One (1) test. This test is NOT used to determine competency. This test is OPTIOANL and is used for grading purposes only. A student may elect to sit for this test where they wish to have a numerical grade apply to their final result.

Where a candidate has successfully completed the assignment, the candidate will achieve a grade of “competency attained” (CA) in the case where this is not achieved, a “not yet competent” (NYC) grade will apply.

The test will NOT be used for the determination of competency. For purposes of weighting: Test One will comprise 100% of the final numerical grade. A numerical grade will only apply where;
1) in the first instance a candidate has acquired competency in the unit, and
2) the test score is 50% or better.

Assessment Matrix

Course Overview: Access Course Overview