Course Title: Monitor corporate governance activities

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: ACCT5316C

Course Title: Monitor corporate governance activities

School: 650T TAFE Business

Campus: City Campus

Program: C6113 - Advanced Diploma of Accounting

Course Contact : Maurice Sheridan

Course Contact Phone: +61 3 99255455

Course Contact Email:maurice.sheridan@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Colin Byron (no phone)

colin.byron@rmit.edu.au

Maurice Sheridan 9925 5455

maurice.sheridan@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 describes the performance outcomes, skills and knowledge required to research corporate governance reporting trends, examine corporate governance standards and practices, and review compliance to develop and implement processes and procedures for meeting corporate governance obligations. This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.

 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC604A Monitor corporate governance activities

Element:

1. Establish corporate governance standards and practices

Performance Criteria:

1.1.Application of, and adherence to, professional and legal accounting standards are monitored to identify emerging trends and interpretations of statutory and other regulatory requirements
1.2.Audit reports and practices are researched to assess methodologies and recommendations
2.1.Organisational practices are analysed to identify corporate governance obligations and performance
2.2.Queries from statutory and other regulatory authorities for corporate governance failure are examined to assess the change effects on internal control procedures
2.3.Content and structure of reports, returns and processes for review are assessed to evaluate policies being followed by the organisation
3.1.Internal control procedures are analysed and monitored to determine performance indicators for compliance with corporate governance requirements
3.2.Information technology systems are evaluated to determine their use and suitability for recording data from operations and transactions for corporate governance obligations
3.3.Management processes to support corporate governance are established
3.4.Reporting plans are established to ensure completion of compliance requirements within scheduled timeframes
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

Element:

2. Identify corporate governance reporting trends

Performance Criteria:


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

 

Element:

3. Determine processes for corporate governance adherence

Performance Criteria:

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

 

Element:

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

Review principles 3 & 4 of corporate governance of ASX document. Complete exercises week 10 blackboard

WeekDateTopic / Content / ActivityDay time StudentsAssessment (Denotes week in which assessment is due or to be conductedPart time Classes
1 11/2/2013

• Course requirements
• Course support documents
• Blackboard
• Overview of assessment requirements including Recognition of Prior Learning and Credit Transfers
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support
• Student responsibilities
 

Introduction 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.

Introduction and Expectations
Blackboard Exercises

Underpinning Knowledge

 

Workshop 1
Introduction and Expectations
Blackboard Exercises

Overview of topics 1, 2, 3
 

2 18/2/2013Company failures / failings, recurring themes.
Macro level HIH, Enron, etc. Micro level, failings in risk management and compliance (articles as examples)

Review articles (blackboard week 2) complete activities

Underpinning Knowledge

 

Review articles (blackboard week 2) complete activities

Underpinning Knowledge

3 25/2/2013ASX Corporate Governance Council’s Corporate Governance Principles & Recommendations.
Principle 7: Recognise and manage risk.
Risk management process. Standard AS/NZS 4360: 2006 Risk Management

Review articles identify risk management issues
(blackboard week 3)

elements 3.1, 3.2, 3.3, 3.4

 

Review articles identify risk management issues
(blackboard week 3)

elements 3.1, 3.2, 3.3, 3.4

4 4/3/2013Principle 7: Recognise and manage risk.
Risk management process. Types of risk; greater focus on compliance risk. Internal control; environmental factors and procedural aspects

Review articles identify risk management issues.
(blackboard week 4).

elements 3.1, 3.2, 3.3, 3.4

 

Workshop 2


Review articles identify risk management issues.
(blackboard week 4). (Part Time workshop)

Discussion on areas needing further clarity topics 1, 2, 3

Overview of topics, 4, 5, 6, 7


elements 3.1, 3.2, 3.3, 3.4
 

5 11/3/2013Principle 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

Complete internal control exercise (Blackboard week 5)

elements 3.1, 3.2, 3.3, 3.4

 

Complete internal control exercise (Blackboard week 5)

elements 3.1, 3.2, 3.3, 3.4

618/3/2013Writing Policy Documents

Review policy documents. Complete comparison activities (Blackboard week6)

Underpinning Knowledge

 

Review policy documents. Complete comparison activities (Blackboard week6)

Underpinning Knowledge

725/3/2013Writing policy documents

Review policy documents. Highlight similarities (Blackboard week 7)

Underpinning Knowledge

 

Review policy documents. Highlight similarities (Blackboard week 7)

Underpinning Knowledge

 Mid semester Break    
8 15/4/2013Role 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:

Review of Section 9 corporations act. Review of assignment and expectations.

Elements 1.1, 1.2

 Monitoring of assignment progress and feedback

Workshop 3


Review of Section 9 corporations act. Review of assignment and expectations. (Part Time workshop)

Discussion on areas needing further clarity Topics 4, 5, 6, 7

Overview of topics 8, 9, 10


 Elements 1.1, 1.2

922/4/2013Principle 1: Lay solid foundations for management and oversight.
Principle 2: Structure the board to add value

Review principles 1 & 2 of corporate governance of ASX document

elements 2.1, 3.1,

Mid semester test online

Review principles 1 & 2 of corporate governance of ASX document

elements 2.1, 3.1,

10 29/4/2013Principle 3: Promote ethical and responsible decision making,
Principles of Ethics
Principle 4: Safeguard integrity in financial reporting

Review principles 3 & 4 of corporate governance of ASX document. Complete exercises week 10 blackboard

elements 2.2, 2.3

 

Review principles 3 & 4 of corporate governance of ASX document. Complete exercises week 10 blackboard

elements 2.2, 2.3

11 6/5/2013Principle 5: Make timely and balanced disclosure.
Continuous disclosure requirement

Review Principle 5 complete exercises week 11 blackboard

elements 3.3

 Presentations of assignment preparation

Review Principle 5 complete exercises week 11 blackboard

Elements 3.3

1211/5/2013Principle 6: Respect the rights of shareholders & Principle 8: Remunerate fairly and responsiblyReview final principles, complete activities in Blackboard week 12 

Workshop 4
Review final principles, complete activities in Blackboard week 12
(Part Time workshop)

Discussion on areas needing further clarity tpics 8, 9 10.

Overview of topics 11, 12

Presentations of assignment preparation

13 18/5/2013Students will work on assignment. Observation and oral questioning will make up part of assessment. Feedback will be provided on an individual basis.

Continue with assignment

Elements 4.1, 4.2, 4.3

 


Continue with assignment

Elements 4.1, 4.2, 4.3

14 25/5/2013Students will work on assignment. Observation and oral questioning will make up part of assessment. Feedback will be provided on an individual basis.Complete Blackboard online assessment

Continue with assignment

Elements 4.1, 4.2, 4.3

 Online Assessment

Complete Blackboard online assessment

Continue with assignment

Elements 4.1, 4.2, 4.3

15 3/6/2013Students will work on 2nd cycle of assignment. Observation and oral questioning will make up part of assessment. Feedback will be provided on an individual basis.

Continue with assignment

Elements 4.1, 4.2, 4.3

 Submission of Assignment

Workshop 5
Continue with assignment (Part Time workshop)

Discussion on areas needing further clarity topics 11, 12


Elements 4.1, 4.2, 4.3
 

1610/6/2013Feedback and assignment consultation  

 Workshop 6
(Part Time workshop)

Discussion on areas needing further clarity (Assignment)

 

1717/6/2013Final week for resubmissions   

The total number of scheduled hours of teaching, learning and assessment involved in this course will include all planned activities. This will incorporate face to face classes (2 hours per week) online learning and other forms of structured teaching and learning. The total scheduled hours includes the amount of effort required to undertake, evaluate and complete all assessments requirements, including observation of work performance, discussion with Facilitators and one on one sessions with students.
The nominal hours associated with this course are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non classroom activities.
 


Learning Resources

Prescribed Texts


References


Other Resources

All resources required are provided on Blackboard


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

You are required to complete the following:

 

There will be a mid semester assessment which will be an open book and online.

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 is performed in two (2) cycles. The first cycle of the assignment will require students to work in groups of two. The first cycle includes a presentations. The 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. 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 second cycle of the assignment must be completed on an idividual basis. This will be submitted in week 15.

Submission Requirements

Assessment tasks need to be submitted via Blackboard.

You should:

• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of work for assessment is available on blackboard. 
 

Marking Guide (competency):

Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.


The grading is according to the following criteria:

1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK

We are looking for a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your approach to your tasks
2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING

We are looking for depth of understanding of the key concepts and knowledge required in completing your tasks. You should be able to demonstrate a thorough understanding of all applicable requirements in all the assessment tasks.

3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING

We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience.
4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT

We expect to see timely submission of all required assessment tasks.


5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK

We expect to see contributions to relevant discussions and scheduled collaborative sessions. In addition your team tasks will provide opportunities to demonstrate how well you work in a team.
Final Grades table:


CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment


Further information regarding the application of the grading criteria will be provided by your teacher.
 


Assessment Matrix

Course Overview: Access Course Overview