MITE
RTO No: 45441
Student Assessment Tasks
FNSACC624 Monitor corporate governance activities
Table of Contents
Table of Contents 2
Assessment Information 3
Assessment Instructions 5
Student Assessment Agreement 6
Assessment Task 1 Cover Sheet 7
Assessment Task 1: Written Questions 8
Assessment Task 1 Instructions 10
Assessment Task 1 Checklist 12
Assessment Task 2 Cover Sheet 13
Assessment Task 2: Corporate Governance Project 14
Assessment Task 2 Instructions 15
Assessment Task 2 Checklist 18
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Assessment Task 3 Cover Sheet 20
Assessment Task 3: Internal controls project 21
Assessment Task 3 Instructions 22
Assessment Task 3 Checklist 24
Assessment Task 4 Cover Sheet 25
Assessment Task 4: Case studies 26
Assessment Task 4 Instructions 27
Assessment Task 4 Checklist 32
Assessment Information
The assessment tasks for FNSACC624 Monitor corporate governance activities are included in this
Student Assessment Tasks booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Task Overview
1. Written questions You must correctly answer all questions.
2. Corporate governance project You must examine a case study and research corporate governance
reporting trends, examine corporate governance standards and practices, and review compliance to
develop and implement processes and procedures for meeting corporate governance obligations.
3. Internal controls project You must review a case study organisation and evaluate internal controls.
4. Case studies You must assess and report on corporate governance practices for two case study
organisations.
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for
clarification if you have any questions at all.
When you have read and understood this unit’s assessment tasks, print out the Student Assessment
Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per your RTO’s
assessment appeals process.
You have the right to appeal the outcome of assessment decisions if they feel they have been dealt with
unfairly or have other appropriate grounds for an appeal.
Naming electronic documents
It is important that you name the documents that you create for this Assessment Task in a logical manner.
Each should include:
• Course identification code
• Assessment Task number
• Document title (if appropriate)
• Student name
• Date it was created
For example, FNSACC624 AT2 Review Report Joan Smith 20/10/18
Additional Resources
You will be provided with the following resources before you begin each Assessment Task.
Assessment Task 2
• Bryant Group Case Study
• Processes Report Template
• Review Report Template
Assessment Task 3
• Fly High Budget
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• Budget Report Template
Assessment Instructions
Each assessment task in this booklet consists of the following:
Assessment Task Cover Sheet
This must be filled out, signed and submitted together with your assessment responses.
If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission.
If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and
submit the file.
The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will
be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your
assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your
assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per
your RTO’s re-assessment policy.
Depending on the task, this may include
• resubmitting incorrect answers to questions (such as short answer questions and case studies)
• resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task
• redoing a role play after being provided with appropriate feedback about your performance
• being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily
completed the first time, after being provided with appropriate feedback.
Assessment Task Information
This gives you:
• a summary of the assessment task
• information on the resources to be used
• submission requirements
• re-submission opportunities if required
Assessment Task Instructions
These give questions to answer or tasks which are to be completed.
Your answers need to be typed up using software as indicated in the Assessment Task Instructions.
Copy and paste each task’s instructions into a new document and use this as the basis for your assessment
task submission. Include this document’s header and footer.
If you are submitting electronically, give the document a file name that includes the unit identification
number, the task number, your name and the date.
Checklist
This will be used by your assessor to mark your assessment. Read through this as part of your preparation
before beginning the assessment task. It will give you a good idea of what your assessor will be looking
for when marking your responses.
Student Assessment Agreement
Make sure you read through the assessments in this booklet before you fill out and sign the agreement
below.
If there is anything that you are unsure of, consult your assessor prior to signing this agreement.
Have you read the assessment requirements for this unit? • Yes • No
Do you understand the requirements of the assessments for this unit? • Yes • No
Do you agree to the way in which you are being assessed? • Yes • No
Do you have any specific needs that should be considered? • Yes • No
If so, explain these in the space below.
Do you understand your rights to re-assessment? • Yes • No
Do you understand your right to appeal the decisions made in an assessment? • Yes • No
Student name
Student number
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Student signature
Date
Assessor name
Assessor signature
Date
Assessment Task 1 Cover Sheet
Student Declaration
To be filled out and submitted with assessment responses
• I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
• I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
• I have correctly referenced all resources and reference texts throughout these assessment tasks.
Student name
Student ID number
Student signature
Date
Assessor declaration
• I hereby certify that this student has been assessed by me and that the assessment has been carried out
according to the required assessment procedures.
Assessor name
Assessor signature
Date
Assessment outcome S NS DNS Resubmission Y N
Feedback
Student result response
• My performance in this assessment task has been discussed and explained to me.
• I would like to appeal this assessment decision.
Student signature
Date
A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
Assessment Task 1: Written Questions
Task summary
This is an open book test, to be completed in the classroom.
A time limit of 1.5 hours to answer the questions is provided.
You need to answer all of the written questions correctly.
Your answers must be word processed and sent to the assessor as an email attachment.
Required
• Access to textbooks/other learning materials
• Computer and Microsoft Office
• Access to the internet
Timing
Your assessor will advise you of the due date of this assessment.
Submit
• Answers to all questions
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having completed the task
satisfactorily.
Re-submission opportunities
You will be provided feedback on their performance by the Assessor. The feedback will indicate if you
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have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory
performance. Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with
unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with the assessor prior to attempting this task if you do not understand any
part of this task or if you have any learning issues or needs that may hinder you when attempting any part
of the assessment.
Written answer question guidance
The following written questions use a range of “instructional words” such as “identify” or “explain”,
which tell you how you should answer the question. Use the definitions below to assist you to provide the
type of response expected.
Note that the following guidance is the minimum level of response required.
Analyse – when a question asks you to analyse something, you should do so in in detail, and identify
important points and key features. Generally, you are expected to write a response one or two paragraphs
long.
Compare – when a question asks you to compare something, you will need to show how two or more
things are similar, ensuring that you also indicate the relevance of the consequences. Generally, you are
expected to write a response one or two paragraphs long.
Contrast – when a question asks you to contrast something, you will need to show how two or more things
are different, ensuring you indicate the relevance or the consequences. Generally, you are expected to
write a response one or two paragraphs long.
Discuss – when a question asks you to discuss something, you are required to point out important issues or
features and express some form of critical judgement. Generally, you are expected to write a response one
or two paragraphs long.
Describe – when a question asks you to describe something, you should state the most noticeable qualities
or features. Generally, you are expected to write a response two or three sentences long.
Evaluate – when a question asks you to evaluate something, you should do so putting forward arguments
for and against something. Generally, you are expected to write a response one or two paragraphs long.
Examine – when a question asks you to examine something, this is similar to “analyse”, where you should
provide a detailed response with key points and features and provide critical analysis. Generally, you are
expected to write a response one or two paragraphs long.
Explain – when a question asks you to explain something, you should make clear how or why something
happened or the way it is. Generally, you are expected to write a response two or three sentences long.
Identify – when a question asks you to identify something, this means that you are asked to briefly
describe the required information. Generally, you are expected to write a response two or three sentences
long.
List – when a question asks you to list something, this means that you are asked to briefly state
information in a list format.
Outline – when a question asks you to outline something, this means giving only the main points,
Generally, you are expected to write a response a few sentences long.
Summarise – when a question asks you to summarise something, this means (like “outline”) only giving
the main points. Generally, you are expected to write a response a few sentences long.
Assessment Task 1 Instructions
Provide answers to all of the questions below:
1. Access the ASIC web site to answer the following questions:
a) Which companies are required to have their financial statements audited?
b) What is the purpose of an audit and an auditor’s report?
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2. Review the Australian Consumer and Competition Commission (ACCC) web site. Identify two forms
of anti-competitive behaviour that is against the law. Describe each in your own words.
3. Research the Code of Conduct issued by the Australian Institute of Company directors. Explain four
key behaviours expected under the Code and the importance of adhering to each behaviour.
4. Explain the role of ASX in assisting corporate governance in Australia?
5. Explain the purpose of the Australian Securities and Investment Commission Act and the protections it
offers to consumers.
6. Identify the Act that includes stipulations for the internal management of a company and the web site
reference for the Act. Access the Act through the Internet and then explain the key requirements of this
Act in relation to internal management of a company.
7. Identify and explain at least 3 statutory reporting requirements for companies in Australia
8. Explain the importance of ensuring that general purpose financial statements comply with accounting
standards.
9. Discuss the Ethical Corporate Governance concept.
10. Explain how a company’s board members can demonstrate that they are committed to ethical
standards.
11. Outline at least two key management processes that need to be inherent in a company to support
effective corporate governance.
12. Explain the purpose of keeping employee records and 5 examples of employee records that must be
kept.
13. Explain why an internal audit is useful in an organisation and how audit reports, assessments and
recommendations can help improve Corporate Governance processes and objectives.
14. You have received a Qualified Auditor report for the company you work for. Auditors have reported
the contravention about the director’s superannuation not being paid for the past 2 years. Prepare a list of
suggestions to management to rectify this contravention. Your answer should focus on the rectification to
the internal control system to prevent this contravention in future.
15. Conduct research on the AASB website (AASB 116) for the disclosure requirements on depreciating
assets. Explain what these are.
16. List two common methods of depreciating assets.
17. Explain performance indicators and key results areas, identifying the difference.
18. Explain the importance of using performance Indicators and key results areas to monitor corporate
governance activities. To illustrate your answer, identify at least two examples of performance indicators
and two example key result areas that can be used to monitor corporate governance activities.
Assessment Task 1 Checklist
Student’s name:
Did the student provide a sufficient and clear answer that addresses the suggested answer for the
following? Completed successfully Comments
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