Unit of competency Outline
Date retreived
22/07/2026 7:30 PM AWST
22/07/2026 7:30 PM 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.
Participate in superannuation fund reviews
Participate in superannuation fund reviews
Unit of competency
National Code
FNSSUP418
FNSSUP418
State Code
OCI34
OCI34
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
081105 - Investment And Securities
Original Release Date
11/03/2021
Nominal Hours
45
Description
This unit describes the skills and knowledge required to conduct quality checks and reviews of superannuation funds. It involves conducting data integrity checks, participating in fund review processes according to organisational policies and procedures, and communicating review findings to a range of parties.The unit applies to those who use specialised knowledge and systematic approaches to ensure integrity of data and information and meet organisational quality assurance requirements.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Conduct data integrity checks
- 1.1 Identify data requirements, data input systems and database
- 1.2 Collect and verify data according to relevant regulations and organisational policies and procedures
- 1.3 Check data input for completeness and correctness
- 1.4 Sample member statements and records for correctness
- 1.5 Review systems and database programs for efficiency and accuracy
2. Undertake fund review activities
- 2.1 Reconcile fund records according to organisational policies and procedures
- 2.2 Prepare fund financial statements according to organisational policies and procedures
- 2.3 Review and update member records and calculate benefits according to organisational policies and procedures
3. Finalise fund review
- 3.1 Prepare review information and provide to required personnel according to organisational policies and procedures
- 3.2 Discuss review findings with relevant stakeholders according to organisational procedures
- 3.3 Integrate feedback from discussions and distribute review information or report to required stakeholders according to organisational policies and procedures
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT34 | FNSSUP408 | Participate in fund review practices | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BFX1 | FNS40920 | Certificate IV in Superannuation | Qualification |