Course Title: Monitor corporate governance activites
Part B: Course Detail
Teaching Period: Term2 2023
Course Code: ACCT5438C
Course Title: Monitor corporate governance activites
School: 525T Business & Enterprise
Campus: City Campus
Program: C6181 - Advanced Diploma of Accounting
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Anthony Di Stasio
anthony.distasio@rmit.edu.au
Nominal Hours: 60
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
There are no pre-requisites for this unit.
Course Description
This unit describes the skills and knowledge required to research corporate governance reporting trends, examine corporate governance standards and practices, review compliance, and develop and implement processes and procedures for meeting corporate governance obligations.
The unit applies to individuals who use current and specialised knowledge and analytical skills to provide advice on organisational processes to meet compliance and management 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 regulatory authorities to confirm those requirements.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACC634 Monitor corporate governance activites |
Element: |
1. Establish corporate governance standards and practices |
Performance Criteria: |
1.1 Monitor organisation's application of and compliance with professional and legal accounting standards and identify emerging trends and interpretations of statutory and other regulatory requirements 1.2 Research audit reports and practices to assess methodologies and recommendations |
Element: |
2. Identify corporate governance reporting trends |
Performance Criteria: |
2.1 Analyse organisational practices and identify corporate governance obligations and performance 2.2 Examine queries from statutory and other regulatory authorities for corporate governance failure to assess change effects on internal control procedures 2.3 Evaluate efficacy of policies being followed by organisation by assessing content and structure of reports, returns and processes |
Element: |
3. Determine processes for corporate governance compliance |
Performance Criteria: |
3.1 Determine performance indicators for compliance with corporate governance requirements by analysing and monitoring internal control procedures 3.2 Evaluate information technology systems and determine their use and suitability for recording data from operations and transactions for corporate governance obligations 3.3 Establish management processes that support corporate governance 3.4 Establish reporting plans and confirm completion of compliance requirements within agreed timeframes |
Element: |
4. Review corporate governance compliance |
Performance Criteria: |
4.1 Assess achievement of performance indicators and determine sources of variance against established performance targets 4.2 Monitor and review compliance preparation processes according to corporate governance requirements 4.3 Analyse failures in compliance and identify areas to improve processes according to corporate governance requirements |
Learning Outcomes
Details of Learning Activities
This subject is clustered with BAFI5223C Apply legal principles in corporations and trust law.
Students will be progressively introduced to skills and knowledge required to research corporate governance reporting trends, examine corporate governance standards and practice and review compliance to develop and implement processes and procedures for meeting corporate governance obligations. Students will also develop skills and knowledge required to apply legal principles in corporations and trust law matters.
In-class activities will account for some of the nominal hours allocated to this course and will include a range of self-paced and collaborative learning activities such as class discussion, completion and review of set exercises and work, tests, team presentation and a comprehensive individual assignment.
The hours of self directed/self paced learning by students will be taken up with reading, research, set work on exercises and the completion of the individual assignment outside scheduled class time. F2F classes are in total three (1.5) hours per week. The learning activities described will be covered in these classes and we expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
Week |
Topic Outline |
Readings and Activities |
Assessment |
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Week 1 |
Introduction | Welcome and Orientation Going thru all the content in week 1Part 1 and Part 2-course information and guidelines. Corporate Governance Introduction
Choosing a Business Structure · Types of Business Structures · Advantages / Disadvantages of Business Structures |
Reading: Power points. Corporate Governance Principles and Recommendations Activities: HIH Case Reading: Power-Points Advantages and Disadvantages summary Activities: Review Questions |
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Learning Resources
Prescribed Texts
Corporations and Trusts Law by Penelope McCann 4th Edition (January, 2019) |
ISBN: 978-1-76073-079-6 |
References
Other Resources
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
- review and determine processes for monitoring at least three corporate governance activities.
In the course of above, the candidate must:
- ensure that monitoring and reporting processes follow professional accounting standards, organisational policies and procedures, and statutory and regulatory requirements.
Knowledge Evidence
The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
- key features of documentation required to monitor corporate governance activities, including:
- authority regulations and requirements
- current financial legislative, statutory and regulatory requirements
- current formats required for submission of statutory returns
- ethical considerations relating to compliance and governance
- key management processes that support corporate governance
- forms and functions of employee records
- key principles of:
- internal control
- valuation and common methods of depreciation
- significance of performance indicators and key result areas to monitoring corporate governance activities.
Assessment Conditions
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
- office equipment, technology, software and consumables required to monitor corporate governance activities, including:
- access to the internet
- an integrated financial software system and data
- corporate governance documentation and organisational operational policies and procedures.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.
Assessment Tasks
Please note that this course is clustered/co-delivered and co-assessed holistically as a group of two (2) course being, ACCT5438C - Monitor corporate governance activities and BAFI5223C Apply legal principles in corporation and trust law. As a result, other than the elements and critical aspects to this course, the two course guides will depict the same information.
Task 1: Short answer assessment task (40 questions) - This assessment is due as per CANVAS Syllabus. (Submitted in CANVAS).
Task 2: Product assessment task - There are 3 parts to this task, you will be required to complete research and prepare a report on Part A -Australian legal systems, corporations and trust law, Part 2 Superannuation and Part 3 Corporate governance failure.
This assessment is due as per CANVAS Syllabus. (Submitted in CANVAS).
Task 3: This practical assessment will allow students to demonstrate their ability to research and analyse legal principles and issues in corporations and trust law matters and then apply this knowledge to provide advice to clients. There are 4 parts to this task using a business scenario.
This assessment is due as per CANVAS Syllabus. (Submitted in CANVAS).
Assessment Matrix
The assessment matrix that maps all the assessment is available on CANVAS
https://rmit.instructure.com/courses/30267/assignments
Course Overview: Access Course Overview