Course Title: Monitor corporate governance activities

Part B: Course Detail

Teaching Period: Term2 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

Linda Boyce

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 interpretaions 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 ar 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

In this clustered/co-delivered, holistic course comprising two units and using the textbooks and other materials, students will be progressively introduced to 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. They will also develop skills and knowledge required to apply legal priniples in corporations and trusts law matters.  With respect to the full-time students, in-class activities will account for some of the nominal hours allocated to this course and will include a range of self-paced and collaborative learning activities such as class discussion, completion and review of set exercises and work, tests, team presentation and a comprehensive assignments in which parts involve a simulated/real workplace environment.


The hours of self-directed/self-paced learning by students will be taken up with reading, research, set work on exercises and the completion of the assignment outside scheduled class time. Please note that the format of the classes will in total, three hours per week. The learning activities described above will be covered in these classes and we expect you to participate and contribute in all scheduled learning activities..


Teaching Schedule

Please note that this course is clustered/co-delivered holistically as a group of two courses those being, ACCT 5316C - Monitor Corporate Governance Activities and  BAFI5205C Apply legal principles in corporations and trusts law.  As a result, other than the elements and the critical aspects specific to this course, the two course guides will depict the same information.

WeekWeek CommencingTopic OutlineClass WorkAssessment
1July 7th 2014

Corporate Governance Introduction   

  Course delivery and assessment details
• Course support documents
• Online learning environment including Blackboard
• Grading
• Plagiarism
• Appeals/Extensions
• Feedback/Privacy
• Submission requirements/Resubmission policy
• Where to get support
• Student responsibilities

Definition of Corporate Governance
Need for Good Corporate Governance

Corporate Collapses

Corpoate Governance Structures in Australia

Corporate Governance Regulators

Good Corporate Governance Standards

 

  • Lehman Video & Enron Case          
  •    Monitor Corporate Governance Activities text (MCGA) Chapter 1 - Self Testers, Chapter Review Questions 6, 7, 8, 9, 11. Assignment 1                                 
 
 2 July 14th 2014                  

 Corporate Ethics

Definition

Importance of Ethics

Ethical Professional Self Regulation

Company Code of Conduct

  •  Develop a Code of Conduct for RMIT Advanced Diploma Students
  • Read Modern Perils of Business Ethics article
  • Review HIH Case
  • MCGA Text Chapter 2 - Self Testers, Chapter Review Questions - 2, 3, 4, 5, Assignment a
 
 3 July 21st 2014

 Internal Controls, Risk & Compliance

Internal Control Systems Definition

Controls

The Control environment

Types of Internal Controls

Risk definition

Types of Risk

GFC

Risk Management

Governance, Risk & Compliance

  •  Read Internal  Control framework at AMP
  • MCGA text Chapters 3 & 4 Self testers, Chapter 3 review questions 1, 2, 4, 5, 9, 11, 17,  Chaper 4 review questions 1, 2, 3, 5, 8, 11, 12, 18, 19
  • Assignment Chapter 3 - Barings Bank disaster
 
 4 July 28th 2014

 ASX Guidelines for Listed Companies

The role of the ASX

ASX Corporate Governance Council

Corporate Governance Principles and Recommendations

  •  Review ASX Corporate Governance Principles and Recommendations (Ed 3) and Board of Directors Charter
  • MCGA text Chaper 5 Self testers, Chapter Review Questions 1, 2, 4, 5, 6, 8, 9, 10, 11, 12, 14
 
 5 August 4th 2014

 Choosing a Business Structure

Types of Business Structures

Advantages / Disadvantages of Business Structures

  •  Corporations & Trusts Law (CTL) text Chapter 1 self test exercise 1 -7, True/False questions, Chapter Review questions 1, 2, 3, 5, 6, 7, 8, 9, 10

 Complete and submit on-line test 1

Team presentation assignment available to students

 6 August 11th 2014

 The Company

The Corporations Act 2001

Seperate Legal Entity

Shareholders and Limited Liability

Classification of Companies

Registration

Company Obligations

Promoters and Pre-incorporation Contracts

  •  CTL Text chapter 2 True/False Questions, Review Questions 1, 2, 3, 4, 5, 7, 8, 10, 17, 20, 25, 26
 Final Assignment available to students
 7 August 18th 2014

 Management

Division of Power within a Company

Types of Directors

How Directors are appointed

Resignation and removal from Office

Appointment of Company Secretary

Remuneration of Directors

Membership

  •  CTL Text Chapter 3 True / False questions, Review Questions 1, 2, 3, 4, 5, 7, 8
 
 8 August 25th 2014

 Directors’ Duties

Fiduciary Duties

Statutory Duties

The insolvent trading rule

 

  •  CTL Text Chapter 4 True / False questions, Review Questions 1, 2, 3, 4, 5, 7, 8, 10, 11, 12, 13, 15, 16, 17
 
  Sept 1 - 7th 2014 MID SEMESTER BREAK  
 9 Sept 9th 2014

 Share Capital & Fundraising

Financial resources of a Company

Classes of Shares

Issuing Shares

Retention of Capital

Share Buy-Backs

Going Public

  •  CTL Text Chapter 5 True/False Questions, Review Questions 1, 2, 3, 4, 5, 7, 8, 12, 13, 16, 17, 18, 19
 
 10 Sept 15th 2014

 External Administration of Companies

Voluntary Administration

Receivership

Winding Up or Liquidation

  •  CTL Text Chapter 6 True / False questions, Review questions 1, 2, 3, 5, 6, 7, 8, 10, 11, 12, 13, 14, 16, 17, 20
 
 11 Sept 22nd 2014

 Associations

Unincorporated Associations

Incorporated Associations

Eligibility

Not-for-Profit

Advantages and Disadvantages of Incorporation

 

  • CTL text Chapter 7 True /False questions, Review Questions 1, 2, 3, 4, 6, 7, 8, 9, 10
 
 12 Sept 29th 2014   Legislation / Compliance Team Presentations Assessment
 13 Oct 6th 2014

 Trusts

Elements of a Trust

Types of Trusts

Continuity of Existence

Winding up Trusts

  •  CTL Text Chapter 8 True / False questions, review questions 1, 2, 3, 3, 5, 6, 7, 9, 10, 11, 15, 17, 18, 20, 21, 22, 25, 26, 27
 
 14 Oct 13th 2014

 Accounts, Reporting & Auditing

Corporate Reporting

Record-keeping

Financial Reporting

Directors’ Report

Continous Disclosure
 

Main function of an Audit

Independence

Appointment and Removal Duties and responsibilities of an Auditor

  •  MCGA Text Chapter16 Self testers Chapter Review questions 11, 12, 13 Chapter 17 Self Testers, Review Questions 5, 6, 7
 
 15 Oct 20th 2014

 Environmentally Sustainable Work Practices

Sustainability

Sustainability Policies and Legislation

Developing Strategies and Implementing Change

 

  •  MCGA Text Chapter 20 - Self Testers Chapter Review questions 1, 2, 3, 4, 5,8, 9, 11, Chapter Assignment

 On-Line submission of Final Assignment

Complete and submite On-Line test 2

 16 Oct 27th 2014 Resubmissions  


Learning Resources

Prescribed Texts

Monitor Corporate Governance Activities - Mathew Fawcett

9781921579639

The application of Legal Principles in Business - Corporations & Trusts Law - Penelope McCann

9781921579905


References


Other Resources

All other respouces 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

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

A practical case study will be provided to students. In teams of 2 , the students will be allocated a legislation topic for them to research and identify compliance shortcomings in the case study. The teams will present their recommendations and research to the class. A hard copy of the presentation (Powerpoint) will need to be handed to your instructor and a copy to be submitted online via Blackboard. To be successful in this unit of competency a student must be able to demonstrate competency in the required task.
 

2. 2 On-lIne tests

The tests will incorporate muliple choice and true/false questions covering both units of the cluster. Both will be on-line tests (available in Blackboard) scheduled in week 5 and 15. These tests will be compentency based assessments with a Compentent (CA) grade required. Students will have multiple attempts to achive a CA grade. However more than one attempt will limit the student to a CA-Ent grade only..
Your teacher will discuss the assessment matrix for each assessment with the class at the beginning of the semester and prior to the assessment taking place. Each student will also receive this document completed by the teacher a the feedback with regard to performance in each assessment.
 

3. Assignment.

Students will be allocated a series of major assignment question to be  completed and submitted on-line by week 15. The questionswill be a simulated work place scenarios that the students will need to carefully plan and address all relevant issues. The student must present their answers in the form of a business report as though providing advice to accounting or business clients. 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.


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

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