Unit of competency Outline
Date retreived
22/07/2026 4:21 AM AWST
22/07/2026 4:21 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Assist in meeting superannuation compliance requirements
Assist in meeting superannuation compliance requirements
Unit of competency
National Code
FNSSUP402A
FNSSUP402A
State Code
D4337
D4337
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
23/02/2012
Field of Education
081105 - Investment And Securities
Original Release Date
23/02/2012
Nominal Hours
50
Description
Unit descriptor
This unit describes the performance outcomes, skills and knowledge required to assist the organisation to meet compliance requirements relevant to superannuation and the type of fund. It encompasses the identification of compliance requirements, determining legislative and regulatory requirements, assisting in compliance audits, reviewing organisation policies and procedures to ensure compliance, preparing statutory reports to meet compliance requirements, identifying Australian Taxation Office (ATO), Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC) compliance requirements and implementing quality assurance practices.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
This unit describes the performance outcomes, skills and knowledge required to assist the organisation to meet compliance requirements relevant to superannuation and the type of fund. It encompasses the identification of compliance requirements, determining legislative and regulatory requirements, assisting in compliance audits, reviewing organisation policies and procedures to ensure compliance, preparing statutory reports to meet compliance requirements, identifying Australian Taxation Office (ATO), Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC) compliance requirements and implementing quality assurance practices.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Identify compliance requirements
- 1.1. The roles of compliance regulatory bodies are identified
- 1.2. The implications of compliance and non-compliance are clarified and explained to the customer
- 1.3. Legislation and regulations determining compliance are identified
- 1.4. The reporting requirements of relevant legislation are identified
2. Assist in compliance audits as required
- 2.1. Information for annual review and compliance reports is provided in a timely manner
- 2.2. External auditors are provided with required information
- 2.3. Collation of information is provided to enable statutory returns to be prepared for submission to APRA, ASIC and the ATO as required
- 2.4. Documents and records are stored according to regulatory requirements
3. Provide support to assist in ensuring compliance requirements are met
- 3.1. Documentation is reviewed to ensure that compliance requirements are met
- 3.2. Member communications are reviewed to ensure that compliance requirements are met
- 3.3. Organisation procedures and guidelines are reviewed ensuring compliance requirements are followed
- 3.4. Irregularities are reported promptly to appropriate personnel
- 3.5. Work is conducted in accordance with legislative requirements
- 3.6. New compliance requirements are integrated into work practices as required
4. Prepare information for statutory reports
- 4.1. Organisation guidelines for preparing information for statutory reports are identified
- 4.2. Requirements for taxation returns and statutory reports are identified
- 4.3. Compliance requirements for ATO, APRA and ASIC are identified
- 4.4. Information is prepared in accordance with regulatory and organisation guidelines
- 4.5. Information is forwarded to relevant internal and/or external parties
5. Implement quality assurance practices
- 5.1. Organisation quality assurance practices are identified and recommendations for improvement are made
- 5.2. Member documentation is maintained in accordance with organisation requirements
- 5.3. System and process checks are implemented and any irregularities identified
- 5.4. Work is conducted in accordance with relevant legislation and regulations
- 5.5. Best practice standards are identified and incorporated into work practice
- 5.6. Training and professional development are undertaken to maintain currency and develop skills
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Regulatory bodies may include:
APRA
ASIC
ATO
Superannuation Complaints Tribunal (SCT).
Legislation and regulations determining compliance may include:
Superannuation Industry (Supervision) (SIS) Act
Superannuation Industry (Supervision) Regulations
Financial Services Reform Act (FSRA)
Corporations Act
Income Tax Assessment Act
Superannuation Guarantee (Administration) Act (SGAA)
Superannuation Contributions Tax (Assessment and Collection) Act (surcharge)
Retirement Savings Account Act
Superannuation (Resolution of Complaints) Act
Superannuation (Unclaimed Moneys and Lost Members) Act Family Law Legislation Amendment Superannuation Act
Insurance Act
Privacy Act
Anti-discrimination legislation (Commonwealth and State)
Trustee Acts or Trust Acts in each State and Territory
industrial legislation
stamp duty legislation
trade practices legislation
other relevant State and Commonwealth legislation.
Statutory reports may include:
APRA quarterly statements
contributions and benefits tax
end of year tax returns
lost member reports
monthly Pay As You Go (PAYG) reports
monthly Reasonable Benefits Limit (RBL) reports
surcharge details
unclaimed monies.
Organisation procedures may include:
best practice standards
codes of practice
documentation and filing procedures
internal communications
legislative requirements
regulatory requirements
system/computer procedures.
Requirements for taxation returns and statutory reports may include:
financial statements
return dates
signatures
specific details
supplementary reports
supporting evidence.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Regulatory bodies may include:
APRA
ASIC
ATO
Superannuation Complaints Tribunal (SCT).
Legislation and regulations determining compliance may include:
Superannuation Industry (Supervision) (SIS) Act
Superannuation Industry (Supervision) Regulations
Financial Services Reform Act (FSRA)
Corporations Act
Income Tax Assessment Act
Superannuation Guarantee (Administration) Act (SGAA)
Superannuation Contributions Tax (Assessment and Collection) Act (surcharge)
Retirement Savings Account Act
Superannuation (Resolution of Complaints) Act
Superannuation (Unclaimed Moneys and Lost Members) Act Family Law Legislation Amendment Superannuation Act
Insurance Act
Privacy Act
Anti-discrimination legislation (Commonwealth and State)
Trustee Acts or Trust Acts in each State and Territory
industrial legislation
stamp duty legislation
trade practices legislation
other relevant State and Commonwealth legislation.
Statutory reports may include:
APRA quarterly statements
contributions and benefits tax
end of year tax returns
lost member reports
monthly Pay As You Go (PAYG) reports
monthly Reasonable Benefits Limit (RBL) reports
surcharge details
unclaimed monies.
Organisation procedures may include:
best practice standards
codes of practice
documentation and filing procedures
internal communications
legislative requirements
regulatory requirements
system/computer procedures.
Requirements for taxation returns and statutory reports may include:
financial statements
return dates
signatures
specific details
supplementary reports
supporting evidence.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
identify and understand the roles of compliance bodies and provide support to ensure compliance requirements
demonstrate knowledge requirements for ATO, APRA and ASIC and the consequences of non-compliance
prepare documentation according to compliance requirements
prepare member communications according to compliance requirements and information for statutory returns
identify new compliance requirements and integrate them into work practices
identify consequences of incorrect processing of contributions or benefits and other member information.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation financial records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace business simulations or scenarios.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
identify and understand the roles of compliance bodies and provide support to ensure compliance requirements
demonstrate knowledge requirements for ATO, APRA and ASIC and the consequences of non-compliance
prepare documentation according to compliance requirements
prepare member communications according to compliance requirements and information for statutory returns
identify new compliance requirements and integrate them into work practices
identify consequences of incorrect processing of contributions or benefits and other member information.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation financial records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace business simulations or scenarios.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT21 | FNSSUP402 | Assist in meeting superannuation compliance requirements | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D709 | FNS40911 | Certificate IV in Superannuation | Qualification |
| S708 | FNS40910 | Certificate IV in Superannuation | Qualification |