Course Title: Monitor corporate governance activities
Part B: Course Detail
Teaching Period: Term2 2022
Course Code: ACCT5430C
Course Title: Monitor corporate governance activities
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C6163 - Advanced Diploma of Accounting
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@rmit.edu.au
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
None
Course Description
This unit describes the 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.
It applies to individuals who use current and specialised knowledge and analytical skills to provide advice on organisational processes to meet compliance and management requirements.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACC624 Monitor corporate governance activities |
Element: |
1. Establish corporate governance standards and practices |
Performance Criteria: |
1.1 Monitor organisation’s application of and compliance with professional and legal accounting standards to identify emerging trends and interpretations of statutory and other regulatory requirements 1.2 Research audit reports and practices to assess methodologies and recommendations |
Element: |
2. Identify corporate governance reporting trends |
Performance Criteria: |
2.1 Analyse organisational practices to identify corporate governance obligations and performance 2.2 Examine queries from statutory and other regulatory authorities for corporate governance failure to assess change effects on internal control procedures 2.3 Assess content and structure of reports, returns and processes to evaluate efficacy of policies being followed by organisation |
Element: |
3. Determine processes for corporate governance compliance |
Performance Criteria: |
3.1 Analyse and monitor internal control procedures to determine performance indicators for compliance with corporate governance requirements 3.2 Evaluate information technology systems to determine their use and suitability for recording data from operations and transactions for corporate governance obligations 3.3 Establish management processes to support corporate governance 3.4 Establish reporting plans to ensure completion of compliance requirements within agreed timeframes |
Element: |
4. Review corporate governance compliance |
Performance Criteria: |
4.1 Assess achievement of performance indicators and determine sources of variance against established performance targets 4.2 Monitor compliance preparation processes and review in line with corporate governance requirements 4.3 Analyse failures in compliance to diagnose shortcomings and to improve processes, in line with corporate governance requirements |
Learning Outcomes
Details of Learning Activities
Students will be progressively introduced to skills and knowledge required to research corporate governance reporting trends, examine corporate governance standards and practice and review compliance to develop and implement processes and procedures for meeting corporate governance obligations. Students will also develop skills and knowledge required to apply legal principles in corporations and trust law matters.
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 individual assignment.
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 individual assignment outside scheduled class time. F2F classes are in total three (3) hours per week. The learning activities described will be covered in these classes and we expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
Please note this course is clustered (i.e. co-delivered and co-assessed) with BAFI5223C: Apply Legal Principles in Corporation 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.
Please Note: The nominal hours associated with what is described above (as reflected below) are a guide only and represent the total teaching time and student effort required to successfully complete this 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.
Course Schedule:
Week |
Topic Outline |
Readings and Activities |
Assessment |
Week 1 |
Introduction | Welcome and Orientation Going thru all the content in a week 1-course information and guidelines. Corporate Governance Introduction
|
Reading: Power points. Corporate Governance Principles and Recommendations Activities: Enron Case HIH Case |
|
Week 2 |
Choosing a Business Structure
|
Reading: Power-Points Advantages and Disadvantages summary Activities: Review Questions |
|
Week 3 |
The Company
|
Reading: power points Saloman vs Saloman case Replaceable Rules Activity: Review Questions |
|
| Week 4 |
Management
|
Reading: Power points Types of Directors Activity: Directors Cases True and False questions |
Leaning Quiz 1 & 2 due for submission |
Week 5 |
Directors’ Duties
Corporate Reporting |
Reading: Power Points Activity: Directors cases relating to duties, insider trading etc. Review Questions |
|
Week 6 |
Share Capital & Fundraising
|
Reading: Power points Call and Put option examples share placement Activity: Review Questions |
|
Week 7 |
Trusts & Superannuation
|
Reading -Trust power points and Superannuation file Activity: Review Questions |
|
Week 8 |
Framework of the Australian Legal System
|
Reading: Power points Doctrine of Precedent, equity law, court hierarchy Activity: Review Questions |
Assessment 1 Due to be submitted in CANVAS |
Week 9 |
Negligence and Risk
|
Reading: Power points Various cases in week 9 Activity: Self test questions |
|
Week 10 |
External Administration of Companies
|
Reading: Power Points Cases Activity: Review Questions |
|
Week 11 |
Risk Management
|
Reading: Power Points RG259 Activity: Review Questions |
Assessment 2 Due for submission |
Week 12 |
Corporate Governance Framework & Ethics
|
Reading: Power Points Corporate Governance Handout APES 110 Code of Ethics Activity: Review Questions |
|
Week 13 |
Assessment 3 Part 2 - Meeting with Billy Wright This week students will conduct the meeting with Billy Wright to present a recommendation on suitable business structures after considering the circumstances of Billy and his 9 friends |
Reading: Read Part 2 of Assessment 3 prior to meeting |
This is a requirement for Part 2 of Assessment 3. Students will be allocated a time for the meeting and need to take take minutes during the meeting |
Week 14 |
Final week to complete Part 1, 2, 3 and 4 of Assessment 3 |
Assessment 3 Due for submission | |
| Week 15 | Resubmissions | ||
Week 16 |
Re-submissions for Assessment 2 and 3 |
||
| Week 17 |
Learning Resources
Prescribed Texts
References
Corporations & Trusts Law 4th Edition Penelope McCann |
978-1-76073-079-6 |
Other Resources
Overview of Assessment
Performance Evidence
Evidence of the ability to:
- research corporate governance reporting trends and apply research to organisational practices
- determine processes for monitoring corporate governance compliance
- examine and review corporate governance standards and practices following:
- professional accounting standards
- organisational policies and procedures
- statutory and regulatory requirements.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Knowledge Evidence
The candidate must be able to demonstrate the following knowledge to effectively complete the tasks outlined in the elements and performance criteria of this unit, and to manage tasks and reasonably foreseeable contingencies in the context of the work role.
- Key features of documentation required to monitor corporate governance activities, including:
- authority regulations and requirements
- current financial legislative, statutory and regulatory requirements
- Current formats required for submission of statutory returns
- Ethical considerations relating to compliance and governance
- Key management processes that support corporate governance
- Forms and functions of employee records
- Key principles of:
- internal control
- valuation and common methods of depreciation
- Significance of performance indicators and key result areas to monitoring corporate governance activities
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:
- office equipment, technology, software and consumables required to monitor corporate governance activities, including:
- access to the internet
- an integrated financial software system and data
- corporate governance documentation and organisational operational policies and procedures.
Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.
Assessment Tasks
Assessment Tasks
Please note that this course is clustered/co-delivered and co-assessed holistically as a group of two (2) course being, ACCT5430C - Monitor Corporate Governance Activities and BAFI5223C Apply Legal Principles in Corporation and Trust Law. As a result, other than the elements and critical aspects to this course, the two course guides will depict the same information.
Task 1: Short answer assessment task (40 questions) - This assessment is due as per CANVAS Syllabus. (Submitted in CANVAS).
Task 2: Product assessment task - There are 3 parts to this task, you will be required to complete research and prepare a report on Part A -Australian legal systems, corporations and trust law, Part 2 Superannuation and Part 3 Corporate governance failure.
This assessment is due as per CANVAS Syllabus. (Submitted in CANVAS).
Task 3: This practical assessment will allow students to demonstrate their ability to research and analyse legal principles and issues in corporations and trust law matters and then apply this knowledge to provide advice to clients. There are 4 parts to this task using a business scenario.
This assessment is due as per CANVAS Syllabus. (Submitted in CANVAS).
The Teacher or Course Coordinator may at any time ask students to demonstrate and/or reproduce assessments to validate authenticity. AND Students must satisfactorily complete all assessment tasks in order to obtain competency in this course.
Assessment Matrix
The assessment matrix that maps all the assessment is available on CANVAS
https://rmit.instructure.com/courses/74466/assignments/474707
Submission Requirements
You should:
· Ensure that you submit assessments on or before the due date.
· 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 the Assessment task document that includes a declaration and statement of authorship that must be signed.
· Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers.
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Resubmissions (VE Programs):
If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
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.
Grading & re-submissions
Successful re-submissions will contribute a CA only (Competency Achieved) result to your overall grade for the course.
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:
Marking Guide (Competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
Course Overview: Access Course Overview