FNSACC526 - Implement and maintain internal control procedures

Unit code:FNSACC526Study level:TAFE

Nominal hours

Location

Footscray Nicholson

Prerequisites

(Or equivalent to be determined by unit coordinator)
Co-requisites
(Corequisite units must be studied concurrently with this unit)

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 Victoria University and/or via the Victoria University e-learning system.