FNSACC516

Application

This unit describes the skills and knowledge required to review corporate governance requirements, implement internal control operating procedures, and monitor associated policy.

It applies to individuals who use specialised knowledge and analytical skills to ensure organisational procedures, compliance and quality requirements are met.

Unit mapping information

This unit supersedes FNSACC506 Implement and maintain internal control procedures

Licensing, legislative, regulatory or certification 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.

Foundation skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Unit sector or competency field

Accounting

Prerequisite, co-requisite or interdependent assessment of units

Not applicable

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 implement internal and maintain internal control procedures
• corporate governance documentation required for role
• organisational operational policies and procedures required for role

Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.