Unit of competency Outline

Date retreived
22/07/2026 11:21 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.

Oversee asset management

Oversee asset management

Unit of competency
National Code
BSBATSIM420A
State Code
D4852
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
10/03/2009
View on TGA
State Implementation and Classification
Approved Date
12/08/2014
Field of Education
080301 - Business Management
Original Release Date
12/08/2014
Nominal Hours
40
Description
This unit describes the performance outcomes, skills and knowledge required to account for and manage the organisation's assets.Some aspects of governance activities may be subject to legislation, rules, regulations and codes of practice relevant to different job roles and jurisdictions.
Notes
Elements and Performance Criteria
1. Develop and implement policies and procedures for the management of assets
  • 1.1. Work with other board members and staff to develop policies and procedures for managing assets that comply with legal and contractual requirements
  • 1.2. Follow policies and administrative procedures regarding the purchase, use, storage, maintenance and disposal of assets
2. Ensure asset records are established
  • 2.1. Ensure responsibility for establishing an asset register of the organisation's movable assets, and the recording and storage of asset documents, is delegated by the board to an appropriate person or persons
  • 2.2. Check that the register has been established and that appropriate asset documents are stored securely
3. Ensure that assets and records are maintained
  • 3.1. Receive and review reports with respect to assets to ensure they are up-to-date and complete
  • 3.2. Ensure appropriate procedures are in place and followed to undertake asset repairs
  • 3.3. Ensure appropriate procedures are in place and followed to report and document asset damage, loss or theft
  • 3.4. Develop an action plan to follow up asset management issues that arise
  • 3.5. Ensure asset records comply with funding providers' requirements
4. Ensure insurance cover is in place
  • 4.1. Ensure appropriate procedures are in place and followed to arrange and maintain insurance following asset acquisition
  • 4.2. Identify authorised signatories for claims for damage, loss or theft
  • 4.3. Ensure claims are submitted in a timely manner and include required evidence of loss
5. Oversee an annual internal audit of assets
  • 5.1. Ensure items recorded in the asset register are checked annually
  • 5.2. Ensure the asset register is updated with current information following the internal audit
  • 5.3. Investigate discrepancies found in the asset register
  • 5.4. Propose changes to policies and procedures if required
6. Oversee acquisition and disposal of assets
  • 6.1. Approve acquisitions and disposal of assets in line with existing plans and budgets
  • 6.2. Ensure funding body requirements regarding asset acquisition and disposal are met
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.
Administrative procedures may include:
asset disposal
internal audit
invoices and receipts
identification labelling
insurance
purchasing
use and control.
Asset register:
may be computer-based or manual records
may include:
additions
date of purchase
identifying numbers
insurance claims
location
loss or theft
major repairs
obsolescence
value.
Movable assets may include:
artworks
cultural items
goods
office furniture
plant and equipment
vehicles.
Asset documents may include:
guarantees
invoices and receipts
insurance documentation
maintenance records
titles and certificates
warranties.
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:
work with others to develop policies and procedures for managing assets
follow policies and procedures for managing assets.

Context of and specific resources for assessment
Assessment must ensure:
participation on an actual or simulated board
access to examples of asset registers
access to examples of relevant asset policy and procedures
access to examples of relevant documentsand reports
knowledge and performance are assessed over time to confirm consistency in performance.

Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
observation of performance on a board or simulated board
direct questioning combined with reflection of practical board performance by the candidate
analysis of responses to case studies and scenarios
demonstration of techniques
observation of presentations
oral or written questioning to assess knowledge
observation of performance in role plays
analysis of feedback from others involved in the management of assets.

Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
BSBATSIM418A Oversee financial management
BSBATSIW417C Select and use technology.
Replaces
State Code National Code Title Type
D0587 BSBATSIM406B Manage assets Unit of competency
Replaced By
State Code National Code Title Type
AUH89 BSBATSIM420 Oversee asset management Unit of competency