FNSACC526 - Implement and maintain internal control procedures

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Unit code: FNSACC526 | Study level: TAFE
Credit points
N/A
Location
Footscray Nicholson
Prerequisites
N/A
Overview
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Overview

This unit describes the skills and knowledge required to review corporate governance requirements and implement and monitor internal control operating procedures.The unit applies to individuals who use specialised knowledge and analytical skills to confirm that organisational procedures, compliance and quality requirements are met.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each units learning outcomes & performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.

Students will be expected to demonstrate the following required skills:

  • implement and maintain at least three internal control procedures.

Students will also be expected to demonstrate the following knowledge:

  • ethical and confidentiality considerations when managing and handling files, records, and data
  • cyber security considerations when managing data on computerised systems
  • key requirements of financial legislation relating to financial transactions and reporting requirements
  • benefits and limitations of internal controls and potential consequences of poor internal controls for internal operations
  • key requirements of organisational policies and procedures relating to:
  • corporate governance
  • financial delegations and accountabilities
  • key principles of internal control and auditing
  • key industry standard practices.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the VU Polytechnic and/or via the Victoria University Polytechnic e-Learning system.

As part of a course

This unit is studied as part of the following course(s):

Diploma of Accounting
FNS50222 | Diploma | Duration:

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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