Elements and Performance Criteria

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance.
The following variables 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. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement.
Information on statutory requirements may include:
financial consultants
company secretariat
Australian Securities and Investments Commission (ASIC)
professional journals
company legal counsel

external auditors
industry associations
media
actuaries
Sources of data input include:
general ledger balances
lease details
related party transactions
directors fees
shareholders names
claims data
Contingencies may include plans for:
non-compliance with timetable
omissions and errors
computer error
data late or not available in required format from source
Internal accounting records include:
detailed working papers
Approvals/authorisations may be provided by:
auditors
actuaries
company directors
chief accountant
Distribution may be to both internal and external parties such as:
ASIC
auditors
banks
stock exchange
taxation department
Australian Bureau of Statistics (ABS)
Stamp Duties Office
shareholders
company staff and directors
brokers
WorkCover authorities

EVIDENCE GUIDE
Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace.
Overview of assessment requirements
To achieve competency in this unit, a person must be able to demonstrate:
knowledge of statutory requirements and information
ability to identify statutory requirements for reports
ability to plan for provisions of reports
ability to analyse and consolidate reports
ability to submit reports for authorisation
ability to distribute reports
Critical aspects of evidence
Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.
Delivery/assessment relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity, which combines the elements of competency for the unit, or a cluster of units of competency.
Assessment requirements
Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.
Context of assessment:
Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.
Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.
Resources required for assessment:
Unless otherwise specified, there are no significant resource implications for assessment of this unit, apart from access to a relevant workplace or closely simulated office environment and the use of a range of office equipment, technology and consumables. These may include standard commercial computer hardware, software, telephones, facsimiles, and other relevant office equipment