Unit of competency Outline

Date retreived
22/07/2026 1:53 AM 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.

Apply complex public sector financial requirements

Apply complex public sector financial requirements

Unit of competency
National Code
PSPGEN078
State Code
AWV26
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
07/03/2016
View on TGA
State Implementation and Classification
Approved Date
21/07/2016
Field of Education
080101 - Accounting
Original Release Date
21/07/2016
Nominal Hours
60
Description
This unit describes the skills required to interpret complex financial policies and procedures and provision of advice on complex financial issues. It includes intimate, high-level knowledge of the public sector financial management compliance framework, external requirements, industry and accounting standards and the application of these to work in a specialist finance role in the public sector. It includes interpreting and applying complex public sector financial requirements, establishing and applying internal financial controls, and formulating/maintaining financial policy.This unit applies to those working in the public sector in specialist financial roles.The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to.Those undertaking this unit would work autonomously, supervising others where necessary, performing complex tasks in a familiar context.No licensing, legislative or certification requirements apply to unit at the time of publication.
Notes
Elements and Performance Criteria
1. Interpret and apply complex public sector financial requirements
  • 1.1 Identify public sector financial requirements.
  • 1.2 Interpret and explain public sector financial management compliance framework hierarchy to others in accordance with their needs, to ensure the organisation’s compliance with the framework’s requirements.
  • 1.3 Provide advice regarding interpretation of public sector financial policies and procedures and accounting standards.
  • 1.4 Interpret and provide information on the organisation’s financial controls and accountabilities to management and staff.
  • 1.5 Develop and refine business solutions for the organisation.
2. Establish and apply internal financial controls
  • 2.1 Analyse current internal controls for improvement and revise or replace as required.
  • 2.2 Review controls to ensure they include effective delegation levels, lines of responsibility, and associated accountabilities.
  • 2.3 Check controls for consistency with government policy and organisational structure.
  • 2.4 Implement, document and make accessible systems and surrounding control procedures.
3. Formulate and maintain financial policy and procedures
  • 3.1 Interpret public sector financial policies and procedures and provide advice on the implications for the organisation’s financial policy and procedures.
  • 3.2 Develop and approve organisational financial policy and procedures.
  • 3.3 Provide input to interdepartmental accounting groups responsible for policy development.
  • 3.4 Develop policies to meet regulatory and legislative requirements and cost-effective best practice.
No information
No information
Replaces
State Code National Code Title Type
C8118 PSPFIN601A Apply complex public sector financial requirements Unit of competency
Replaced By
State Code National Code Title Type
ODW75 PSPGEN110 Apply complex public sector financial requirements Unit of competency