Unit of competency Outline

Date retreived
22/07/2026 3:45 AM AWST

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Interpret and apply knowledge of industrial regulations relevant to payroll

Interpret and apply knowledge of industrial regulations relevant to payroll

Unit of competency
National Code
FNSPAY504
State Code
BBI04
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
13/02/2018
View on TGA
State Implementation and Classification
Approved Date
09/05/2018
Field of Education
080101 - Accounting
Original Release Date
09/05/2018
Nominal Hours
50
Description
This unit describes the skills and knowledge required to research, analyse and apply knowledge of industrial regulations to the provision of payroll services.It applies to individuals who, within their level of authority, use specialised knowledge to ensure compliance with industrial regulations in the workplace.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.
Notes
Elements and Performance Criteria
1. Research industry regulations relating to payroll service provision
  • 1.1 Use appropriate sources to research regulations regarding payroll service provision
  • 1.2 Identify how researched regulations apply to business payroll operations
  • 1.3 Seek assistance from sources to interpret context, purpose and impact of regulations on payroll
2. Interpret impact of regulations on payroll services
  • 2.1 Analyse how regulations impact on different types of employment contracts and business structures
  • 2.2 Identify areas of risk in applying regulations to organisation’s payroll operations
  • 2.3 Evaluate impacts of that risk on payroll operations
3. Ensure payroll services comply with regulations
  • 3.1 Apply knowledge of regulations to determine if payroll operations are compliant with regulations
  • 3.2 Identify changes to payroll operations required to ensure compliance with regulations
  • 3.3 Seek advice and guidance from sources to ensure payroll operations comply with regulations
4. Maintain compliance of payroll services with regulations
  • 4.1 Review regulatory sources regularly to ensure payroll operations remain compliant
  • 4.2 Inform stakeholders of changes to regulations and explain impact of changes on payroll operations, including changes to employment contracts and business structures, according to organisational policies and procedures
  • 4.3 Access and use systems to maintain up-to-date knowledge of regulations to ensure continued compliance of payroll operations
No information
No information
Replaced By
State Code National Code Title Type
OEC11 FNSPAY514 Interpret and apply knowledge of industrial regulations relevant to payroll Unit of competency