Course Title: Monitor corporate governance activites
Part B: Course Detail
Teaching Period: Term1 2025
Course Code: ACCT5438C
Course Title: Monitor corporate governance activites
School: 525T Business & Enterprise
Campus: City Campus
Program: C6181 - 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
Course Coordinator: Anthony Di Stasio
Teacher: John Calabro
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
There are no pre-requisites for this unit.
Course Description
This unit describes the skills and knowledge required to research corporate governance reporting trends, examine corporate governance standards and practices, review compliance, and develop and implement processes and procedures for meeting corporate governance obligations.
The unit 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. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACC634 Monitor corporate governance activites |
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 and 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 and 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 Evaluate efficacy of policies being followed by organisation by assessing content and structure of reports, returns and processes |
Element: |
3. Determine processes for corporate governance compliance |
Performance Criteria: |
3.1 Determine performance indicators for compliance with corporate governance requirements by analysing and monitoring internal control procedures 3.2 Evaluate information technology systems and determine their use and suitability for recording data from operations and transactions for corporate governance obligations 3.3 Establish management processes that support corporate governance 3.4 Establish reporting plans and confirm 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 and review compliance preparation processes according to corporate governance requirements 4.3 Analyse failures in compliance and identify areas to improve processes according to corporate governance requirements |
Learning Outcomes
Details of Learning Activities
This subject is clustered with BAFI5223C Apply legal principles in corporations and trust law.
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
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Week
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Topic Outline
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Readings and Activities
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Assessment
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Week 1
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Introduction | Welcome and Orientation Going thru all the content in week 1Part 1 and Part 2-course information and guidelines. Corporate Governance Introduction
Choosing a Business Structure · Types of Business Structures · Advantages / Disadvantages of Business Structures
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Reading: Power points. Corporate Governance Principles and Recommendations Activities: HIH Case Reading: Power-Points Advantages and Disadvantages summary Activities: Review Questions
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Week 2
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The Company · The Corporations Act 2001 · Separate Legal Entity · Shareholders and Limited Liability · Classification of Companies · Registration · Company Obligations · Promoters and Pre-incorporation Contracts
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Week 3
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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
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Reading: Power points Types of Directors Activity: Directors Cases True and False questions
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Week 4
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Directors’ Duties · Fiduciary Duties · Statutory Duties · The insolvent trading rule Corporate Reporting
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Reading: Power Points Activity: Directors cases relating to duties, insider trading etc. Review Questions
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Leaning Quiz 1 & 2 due for submission
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Week 5
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Share Capital & Fundraising · Financial resources of a Company · Classes of Shares · Issuing Shares · Retention of Capital · Share Buy-Backs · Going Public
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Reading: Power points Call and Put option examples share placement Activity: Review Questions
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Week 6
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Trusts & Superannuation · Elements of a Trust · Types of Trusts · Continuity of Existence · Winding up Trusts · Superannuation- Purpose, Regulation, types of Superannuation Funds, Regulatory Framework and Proposed Changes
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Reading -Trust power points and Superannuation file Activity: Review Questions
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Week 7
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Framework of the Australian Legal System · Origins of Law in Australia · The Australian Constitution · Types of Laws · Sources of Law · Jurisdiction and Hierarchy of Courts
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Reading: Power points Doctrine of Precedent, equity law, court hierarchy
Activity: Review Questions
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Week 8
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Negligence and Risk · Meaning of Tort · What law applies to Negligence · The elements of Negligence · Negligent Misstatement · Pure Economic Loss · Defences to Negligence
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Reading: Power points
Activity: Self-test questions
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Assessment 1 Due to be submitted in CANVAS
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Week 9
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External Administration of Companies · Voluntary Administration · Receivership · Winding Up or Liquidation
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Reading: Power Points Cases Activity: Review Questions
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Feedback on Assessment 1
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Week 10
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Risk Management · Risk Assessment · Risk Management framework · Identify Risk · Determine possible causes · Determine possible consequences · Determine current likelihood · Determine Risk Rating · Risk Treatment
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Reading: Power Points RG259 Activity: Review Questions
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Assessment 2 Due for submission
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Week 11
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Corporate Governance Framework & Ethics · Internal Controls and Corporate Governance · Corporate Governance Requirements · Corporate Governance Structures in Australia · Corporate Governance Regulations · Standards for good Corporate Governance · Management Accountability · ASX Corporate Governance Principles and Recommendations · Ethical Responsibilities
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Reading: Power Points Corporate Governance Handout APES 110 Code of Ethics Activity: Review Questions
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Feedback on Assessment 2
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Week 12
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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 friends
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Reading: Read Part 2 of Assessment 3 prior to meeting
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This is a requirement for Part 2 of Assessment 3. Students will be allocated a time for the meeting and need to take minutes during the meeting
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Week 13
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Revision Corporate Governance Framework & Ethics And assessment discussion |
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Week 14
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Revision ASX Corporate Governance Principles and Recommendations ·Ethical Responsibilities |
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Week 15
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Assessment 3 |
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Assessment 3 Due |
Week 16 |
Re submissions |
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Week 17 |
Re submissions |
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18 |
Final Results |
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Learning Resources
Prescribed Texts
Corporations and Trusts Law by Penelope McCann 4th Edition (January, 2019) |
ISBN: 978-1-76073-079-6 |
References
Other Resources
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
- review and determine processes for monitoring at least three corporate governance activities.
In the course of above, the candidate must:
- ensure that monitoring and reporting processes follow professional accounting standards, organisational policies and procedures, and statutory and regulatory requirements.
Knowledge Evidence
The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
- 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
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes 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 requirements for assessors 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
Please note that this course is clustered/co-delivered and co-assessed holistically as a group of two (2) course being, ACCT5438C - 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).
https://rmit.instructure.com/courses/146091/assignments
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).
Assessment Matrix
Assessment Matrix
The assessment matrix that maps all the assessment is available on CANVAS under Assignments.
All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory.
Other Information
Other Information
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.
- 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.
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 five 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
Course Overview: Access Course Overview