Unit of competency Outline

Date retreived
22/07/2026 6:08 AM AWST

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Assist in meeting superannuation compliance requirements

Assist in meeting superannuation compliance requirements

Unit of competency
National Code
FNSSUP402
State Code
AUT21
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to assist the organisation to meet compliance requirements relevant to superannuation. It encompasses the identification of legislative and regulatory compliance requirements of the Australian Taxation Office (ATO), Australian Prudential Regulation Authority (APRA), Australian Transaction Reports and Analysis Centre (AUSTRAC) and Australian Securities and Investments Commission (ASIC).It applies to individuals who use specialised knowledge to evaluate complex information and compliance requirements to implement quality assurance practices.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Identify compliance requirements
  • 1.1 Identify the roles of compliance regulatory bodies
  • 1.2 Identify the legislation and regulations determining compliance
  • 1.3 Identify the reporting requirements of relevant legislation
2. Assist in compliance audits as required
  • 2.1 Provide information for annual review and compliance reports in timely manner
  • 2.2 Provide external auditors with required information
  • 2.3 Collate information to enable statutory reports to be prepared for submission to ATO, AUSTRAC, APRA and ASIC as required
  • 2.4 Store documents and records according to regulatory requirements
3. Provide support to assist in ensuring compliance requirements are met
  • 3.1 Review documentation to ensure that compliance requirements are met
  • 3.2 Review member communications to ensure that compliance requirements are met
  • 3.3 Clarify implications of compliance and non-compliance, and explain to member
  • 3.4 Review organisational procedures and guidelines, ensuring compliance requirements are followed
  • 3.5 Report irregularities promptly to appropriate personnel
  • 3.6 Conduct work in accordance with legislative requirements
  • 3.7 Integrate new compliance requirements into work practices as required
4. Prepare information for statutory reports
  • 4.1 Identify organisational guidelines for preparing information for statutory reports
  • 4.2 Identify requirements for taxation returns and statutory reports
  • 4.3 Identify compliance requirements for ATO, AUSTRAC, APRA and ASIC
  • 4.4 Prepare information in accordance with regulatory guidelines and organisational procedures
  • 4.5 Forward information to relevant internal and/or external parties
5. Implement quality assurance practices
  • 5.1 Identify organisational quality assurance practices and make recommendations for improvement where required
  • 5.2 Maintain member documentation in accordance with organisational procedures
  • 5.3 Implement system and process checks, and identify any irregularities and potential fraudulent activity
  • 5.4 Conduct work in accordance with relevant legislation and regulations
  • 5.5 Identify best practice standards and incorporate into work practice
  • 5.6 Undertake training and professional development to maintain currency and develop skills
No information
No information
Replaces
State Code National Code Title Type
D4337 FNSSUP402A Assist in meeting superannuation compliance requirements Unit of competency
Replaced By
State Code National Code Title Type
OCI29 FNSSUP422 Assist organisation to meet regulatory superannuation compliance requirements Unit of competency
State Code National Code Title Type
AVZ0 FNS40915 Certificate IV in Superannuation Qualification