Course Title: Monitor corporate governance activities
Part B: Course Detail
Teaching Period: Term1 2017
Course Code: ACCT5386C
Course Title: Monitor corporate governance activities
School: 650T Vocational Business Education
Campus: City Campus
Program: C6148 - Advanced Diploma of Accounting
Course Contact: Ben Sethia
Course Contact Phone: +61 3 9925 5982
Course Contact Email: ben.sethia@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Sonia Joksimovic
Sonia.Joksimovic@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 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 and maintain 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 Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACC604 Monitor corporate governance activities |
Element: |
1. Establish corporate governance standards and practices |
Performance Criteria: |
1.1 Monitor application of and adherence to 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 for review to evaluate policies being followed by organisation |
Element: |
3. Determine processes for corporate governance adherence |
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 scheduled timeframes |
Element: |
4. Review corporate governance compliance |
Performance Criteria: |
4.1 Assess achievement of performance indicators and review against key result areas 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 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 collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in 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 5386C - Monitor Corporate Governance Activities and BAFI5223C 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.
The teaching schedule for this course is as follows:
Induction Session
Prior to training commencement a program level induction session will be conducted that comprises the following:
• Program overview and requirements
• MyRMIT/Blackboard
• Overview of assessment requirements
• Pre-Training Review including:
- Recognition of Prior Learning and Credit Transfers
- Assessment of current skills and knowledge
• Competency/Grading Criteria
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
Week |
Week Commencing |
Topics & Activities |
Assessment |
1 |
6 February 2017 |
Introduction: • Program overview and requirements Corporate Governance Introduction Definition of Corporate Governance Need for Good Corporate Governance Corporate Collapses Corporate Governance Regulators Good Corporate Governance Standards |
|
2 |
13 February 2017 |
Corporate Ethics Definition Importance of Ethics Company Code of Conduct |
|
3 |
20 February 2017 |
Internal Controls, Risk & Compliance Internal Control Systems Definition Risk Management |
|
4 |
27 February 2017 |
ASX Guidelines for Listed Companies The role of the ASX ASX Corporate Governance Council Corporate Governance Principles and Recommendations |
|
5 |
6 March 2017 |
Choosing a Business Structure Types of Business Structures
|
|
6 |
13 March 2017 (labour day pub holiday) - this chapter to be reviewed in week 7 |
The Company The Corporations Act 2001 Separate Legal Entity |
Final Assignment available to students |
7 |
20 March 2017 |
Management
Types of Directors How Directors are appointed Resignation and removal from Office Remuneration of Directors Membership |
|
8 |
27 March 2017 |
Directors’ Duties
|
|
9 |
3 April 2017 |
Share Capital & Fundraising
Classes of Shares Issuing Shares Retention of Capital Going Public |
|
|
13 April 2017 - 19 April 2017 |
MID SEMESTER BREAK |
|
10a
10b |
10 April 2017
19 April 2017 |
External Administration of Companies
|
|
11 |
24 April 2017 |
Associations Incorporated Associations Eligibility Not-for-Profit Advantages and Disadvantages of Incorporation |
|
12 |
1 May 2017 |
|
Legislation / Compliance Team Presentations Assessment |
13 |
8 May 2017 |
Trusts Elements of a Trust Continuity of Existence Winding up Trusts |
|
14 |
15 May 2017 |
Accounts, Reporting & Auditing Corporate Reporting Record-keeping Financial Reporting Directors’ Report Continuous Disclosure |
|
15 |
22 May 2016 |
Environmentally Sustainable Work Practices Sustainability |
On-Line submission of Final Assignment |
16 |
29 May 2016 |
Resubmissions |
|
Learning Resources
Prescribed Texts
Monitor Corporate Governance Activities - Mathew Fawcett |
|
References
Other Resources
You may be required to purchase other textbooks. This will be confirmed early in the semester by your program coordinator and teacher.
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- research corporate governance reporting trends
- determine processes for monitoring corporate governance adherence
- examine and review corporate governance standards and practices following:
- professional accounting standards
- organisational policy and procedures
- statutory and regulatory requirements
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- access and accurately interpret authority regulations and requirements
- identify and explain the key features of current financial legislation, and statutory and regulatory requirements
- explain the current formats required for submission of statutory returns
- discuss ethical considerations relating to compliance and governance
- outline the key management processes that support corporate governance
- identify and explain the forms and functions of employee records
- identify and explain the key principles of:
- internal control
- valuation and common methods of depreciation
- discuss the significance of performance indicators and key result areas relevant to monitoring corporate governance activities
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:
- common office equipment, technology, software and consumables
- an integrated financial software system and data
- corporate governance documentation and organisational operational policy and procedures information
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
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. |
Assessment Tasks |
Please note that this course is clustered/co-delivered and co-assessed 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. Critical aspects of assessment: Evidence of the following is essential:
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.
The availability and submission due date weeks are contained in the ''teaching schedule''.
The availability and submission due date weeks are contained in the ''teaching schedule''. |
Assessment Matrix
See ''Assessment Tasks''
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 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
each assessment task is available on blackboard.
• 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. For example, Colin Byron, 324567, Task 2,
OHTH5844C Ensure safe workplace, Page 1 of 10.
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 well as demonstrating a high level of initiative while proccessing transactions and extracting reports.
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 processing financial transactions. You should be able to demonstrate a thorough understanding of double entry bookkeeping principles and procedures involved when processing financial transactions and preparing reports.
3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
We are looking for techniques to be used in problem solving, using appropriate technology and methodology to assist in recording data and preparing reports. You also need to show an understanding of the kinds of problems that can arise in bookkeeping and reporting.
4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
We expect to see effective planning, self management & work organization resulting in 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. In addition you should demonstrate a range of well-developed interpersonal skills appropriate to each task
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. <check links are still current>
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 unsuccessful 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=7usdbki1fjf31Resubmissions (VET Programs):
Course Overview: Access Course Overview