Unit of competency Outline

Date retreived
23/07/2026 1:08 AM AWST

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Oversee asset management

Oversee asset management

Unit of competency
National Code
BSBATSIM420
State Code
AUH89
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080301 - Business Management
Original Release Date
15/09/2015
Nominal Hours
40
Description
This unit describes the skills and knowledge required to account for and manage the organisation’s assets.It applies to individuals responsible for ensuring the organisation’s assets are effectively managed.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Develop and implement policies and procedures for 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 for purchase, use, storage, maintenance and disposal of assets
2 Ensure asset records are established
  • 2.1 Ensure responsibility for establishing an asset register of organisation’s movable assets, and recording and storage of asset documents is delegated by the board to an appropriate person or persons
  • 2.2 Ensure the register has been established and appropriate asset documents are stored securely
3 Ensure assets and records are maintained
  • 3.1 Receive and review reports on 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 annual internal audit of assets
  • 5.1 Ensure items recorded in asset register are checked annually
  • 5.2 Ensure 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
No information
No information
Replaces
State Code National Code Title Type
D4852 BSBATSIM420A Oversee asset management Unit of competency
Replaced By
State Code National Code Title Type
ODR62 BSBFNG407 Oversee asset management in an Aboriginal and Torres Strait Islander organisation Unit of competency