Unit of competency Outline

Date retreived
22/07/2026 10:16 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.

Develop financial policies and procedures

Develop financial policies and procedures

Unit of competency
National Code
DEFFIN012
State Code
BBC36
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
17/08/2017
View on TGA
State Implementation and Classification
Approved Date
21/02/2018
Field of Education
080399 - Business And Management, N.e.c.
Original Release Date
21/02/2018
Nominal Hours
0
Description
This unit describes the skills required to review, develop and implement financial policies and delegations.This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities as part of their duties.The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial management activities.Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform sophisticated tasks in familiar contexts.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Review current policies
  • 1.1 Determine the need to review current policies on the basis of external and internal triggers
  • 1.2 Review current policy for appropriateness to current legislative and stakeholder needs
  • 1.3 Make recommendations for any changes required to a policy
2 Develop or update policies and delegations
  • 2.1 Undertake research of legislative requirements
  • 2.2 Identify and engage with relevant stakeholders
  • 2.3 Develop drafts reflecting stakeholder and legislative requirements
  • 2.4 Prepare relevant documents to present to senior management with recommendations for decision
3 Implement financial policies
  • 3.1 Receive approval documentation
  • 3.2 Publish policy changes and communicate to relevant stakeholders
  • 3.3 Make any consequential changes throughout other relevant documentation
  • 3.4 Respond to queries regarding changes
No information
No information
No information
State Code National Code Title Type
BDK1 DEF50817 Diploma of Defence Financial Management Qualification