Course Title: Monitor corporate governance activities

Part B: Course Detail

Teaching Period: Term1 2014

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: colin.byron@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
 

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

Primarily, you will be learning face to face, with an on-line course site (Blackboard) used to disseminate materials, including videos, notes and activities and to provide on-line submission for assessment activities.

Students will be required to read the course text before coming to class. The course is structured so that reading is completed out of class.

Students will be placed into teams of 2 to complete the course assignment which comprises a class presentation and detailed business report. In addition, students will be required to complete a series of class activities and submit via the on-line Blackboard Blog..


Teaching Schedule

WeekWeek CommencingTopic Outline                               Class Work                                                             Blog Assessment Activity                                        
110-Feb- 2014Corporate Governance Intro

Chapter review questions 8, 10, 11

Enron Case - Video

 Chapter 1 Assignment 1
 2 17-Feb-2014 Corporate Ethics

 Discuss Codes of Conduct

Chapter 2 Review question 2

 Chapter 2 Review questions 3, 4, 5
 324-Feb 2014 Internal Control/ Risk Compliance

 Types of Internal Controls & their limitations

Types of Risk, GFC

Governance, Risk & Compliance

Chapter 3 Review Q’s 1, 2, 6, 8, 9, 10

Chapter 4 Review Q’s

1, 3, 6, 12, 13,16

 Chapter 3 Assignment
 4 3-Mar-2014 ASX Guidelines for Listed Companies

 Corporate Governance Principles & Recommendations

Chapter 5 Review Questions 1, 4, 5, 6, 9, 12, 14

 Chapter 5 Assignment 1
 5 10-Mar-2014 Corporations Act & Incorporation

 The role of Courts, Legislation & ASIC

Characteristics of Businesses

Types of Companies

Chapter 6 Review Q’s 6, 7, 8

Chapter 7 Review Q’s 35, 40, 42

 Chapter 7 Assignment
 6 17-Mar-2014 Company Constitution Chapter 8 Review Q’s 1, 2, 3 Chapter 8 Assignment
 7 24-Mar-2014 Directors & Officers

 Types of Directors

Powers & Functions of Directors

Chapter 10 Review Q’s 5, 6, 7, 9

 
 8 31-Mar-2014 Director’s Duties

 Fiduciary & Statutory Duties

Conflict of Interest, Insider Trading

Chapter 11 Review Q’s 2, 3, 4, 6,7,8

Chapter 12 Review Q’s 1, 3, 4, 10,11

 Chapter 12 Assignment 2
 9 7-April-2014 Director’s Remedies & Consequences Chapter 12 Review Q’s 1, 2 
 9

 14-April 2014 (Mon-Wed)

+

Thurs 24-Apr-2014

 Members Meetings & Members Rights

 Types of Company Meetings

Meeting Procedures

Members Voting Rights

Chapter 14 Review Q’s 1, 2, 3, 11, 13, 15

 
 Mid Semester Break

 17-23 Apr-2014

+

25-Apr-2014

   
 10 28-Apr-2014 Accounts, Reporting & Audits

 Corporate Reporting

Main Function of an Audit

Chapter 16 Review Q’S 1, 4, 8

Chapter 17 Review Q’s 2

 Chapter 17 Assignment 1
 11 5-May-2014 Administration of Compaies in financial Difficulties

 Insolvency, Receivership, Voluntary Administration, Winding Up

Chapter 18 Review Q’s 9, 15, 18

 Chapter 18 Assignment
 12 12-May 2014 Assignment Presentation All teams to present Part A of the final Assignment 
 13 19-May-2014 Environmentally sustainable work practices

 What is Sustainability

Sustainability Policies & Legislation

Triple Bottom Line

Chapter 20 Review Q’s 1, 2, 4, 8, 11

 Chapter 20 Asignment
 14 26-May-2014 Assignment Completion  
152-Jun-2014Assignment Report Due  


Learning Resources

Prescribed Texts

Monitor Corporate Governance Activities - Matthew Fawcett

9781921579639


References


Other Resources

All other resources 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:

1. Presentation


All students will be divided onto teams of 2 and be allocated a topic from the Monitor Corporate Governance Activities text book. The teams will research the topic and present their work to the class.

2. Weekly Blog.


10 BLOG submmissions from assignment questions set for most topics detailed in the weekly schedule.  They must ALL be submitted online via Blackboard. If not deemed competent, resubmissions will be required.

3.  Assignment.


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 presentation. 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 of the presentation (Powerpoint) will need to be handed to your instructor.. This will complete cycle 1 (1st cycle) The second cycle of the assignment a detailed business Report must be completed on an individual 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.

 

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.

More Information: http://www.rmit.edu.au/students/assessment/extension

Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf

Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.

More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w

Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Resubmissions (VET Programs):

If you are found to be Not Yet Competent in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:

More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31
 


Assessment Matrix

Other Information

Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Resubmissions (VET Programs):
If you are found to be Not Yet Competent in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31
 

Course Overview: Access Course Overview