Unit of competency Outline
Date retreived
22/07/2026 5:50 PM AWST
22/07/2026 5:50 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.
Conduct an investigative audit
Conduct an investigative audit
Unit of competency
National Code
SFICOMP501C
SFICOMP501C
State Code
D9209
D9209
TGA Status
Replaced
Replaced
DTWD Status
Transition (Replaced)
Transition (Replaced)
State Implementation and Classification
Approved Date
01/03/2012
Field of Education
080101 - Accounting
Original Release Date
01/03/2012
Nominal Hours
40
Description
This unit of competency involves planning, conducting and evaluating an audit to identify and capture evidence of record keeping compliance and unlawful transactions.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Determine audit risk
- 1.1. Knowledge of business structures and practices associated with fish processing, wholesale and retail marketing is developed.
- 1.2. Scope of the audit program is determined in the context of relevant fisheries management arrangements, a fraud risk assessment and intelligence available.
2. Develop audit plan
- 2.1. Initial audit objectives are defined in the context of the type of business being audited.
- 2.2. Resources required to conduct the audit are determined and arrangements made for their allocation.
3. Identify operating systems for the business entity being audited
- 3.1. Flowchart and working papers documenting the business's operating systems are prepared.
- 3.2. The potential for targeted activity within the business entity's fishing operation is assessed.
- 3.3. The potential for success in locating authentic material information/evidence related to the targeted activity and audit objectives is assessed.
- 3.4. Appropriate audit methodologies and types of material information/evidence are selected.
4. Conduct investigative audit
- 4.1. Selected audit methodologies are incorporated into the audit plan and adjusted, as required, by the audit progress.
- 4.2. Stocktake is conducted in accordance with the audit plan.
- 4.3. Substantive tests of transactions within the business's operating systems are performed for the time period specified in audit plan, and anomalies and irregularities identified.
- 4.4. Results of investigations are documented.
5. Evaluate, review and report on the audit
- 5.1. Information/evidence obtained is sufficient, complete, reliable and valid.
- 5.2. Evidence meets jurisdictional requirements for admissibility of evidence.
- 5.3. Audit report is prepared and issued to relevant authorities.
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.
Resources may include:
budgetary commitment
computer and data analysis software
full and free (search warrant) access to records
personnel with required knowledge and expertise
vehicles.
Business's operating systems may include:
finances
inventory
processing
product movement
purchases
receivals
sales.
Targeted activity may include:
handling of illegal catches
misrepresentation of:
fish catches
inventory stock
products
money laundering
quota inconsistencies
unrecorded sales.
Material information/evidence may include:
business plans, journals and ledgers
cash book/general ledger/computerised accounting systems
energy purchase accounts (e.g. gas and electricity)
fish stocks (e.g. unprocessed and processed)
freight registers
personnel time sheets
product labels
source documents for accounting, including purchase, sales, processing and freight documentation
stock control, processing and accounting instruction manuals
telephone records
unrecorded cash floats
vehicle log books.
Audit methodologies may include:
cross-referencing of documentation between business's operating systems
substantive selection of transactions over a period of time as specified in the audit plan
target specific suppliers, customers, locations, species, stock volume, freight services and times as specified in the audit plan
third-party verification
combination of above methodologies.
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.
Resources may include:
budgetary commitment
computer and data analysis software
full and free (search warrant) access to records
personnel with required knowledge and expertise
vehicles.
Business's operating systems may include:
finances
inventory
processing
product movement
purchases
receivals
sales.
Targeted activity may include:
handling of illegal catches
misrepresentation of:
fish catches
inventory stock
products
money laundering
quota inconsistencies
unrecorded sales.
Material information/evidence may include:
business plans, journals and ledgers
cash book/general ledger/computerised accounting systems
energy purchase accounts (e.g. gas and electricity)
fish stocks (e.g. unprocessed and processed)
freight registers
personnel time sheets
product labels
source documents for accounting, including purchase, sales, processing and freight documentation
stock control, processing and accounting instruction manuals
telephone records
unrecorded cash floats
vehicle log books.
Audit methodologies may include:
cross-referencing of documentation between business's operating systems
substantive selection of transactions over a period of time as specified in the audit plan
target specific suppliers, customers, locations, species, stock volume, freight services and times as specified in the audit plan
third-party verification
combination of above methodologies.
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 evidence required to demonstrate competence in this unit
Assessment must confirm an ability to:
plan, conduct and evaluate an investigative audit according to jurisdictional laws, policies and procedures.
Assessment must confirm knowledge of:
investigative audit procedures and business operating systems.
Context of and specific resources for assessment
Assessment is to be conducted at the workplace or in a simulated work environment.
Resources may include:
case study or workplace scenario
business-related documentation and operational business to audit.
Method of assessment
The following assessment methods are suggested:
questions
practical exercises
project work
demonstration.
Guidance information for assessment
This unit may be assessed holistically with other units within a qualification.
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 evidence required to demonstrate competence in this unit
Assessment must confirm an ability to:
plan, conduct and evaluate an investigative audit according to jurisdictional laws, policies and procedures.
Assessment must confirm knowledge of:
investigative audit procedures and business operating systems.
Context of and specific resources for assessment
Assessment is to be conducted at the workplace or in a simulated work environment.
Resources may include:
case study or workplace scenario
business-related documentation and operational business to audit.
Method of assessment
The following assessment methods are suggested:
questions
practical exercises
project work
demonstration.
Guidance information for assessment
This unit may be assessed holistically with other units within a qualification.
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| S4214 | SFICOMP501B | Conduct an investigative audit | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| OAR90 | SFICPL401 | Conduct an investigative audit | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D630 | SFI50411 | Diploma of Fisheries Compliance | Qualification |