Unit of competency Outline

Date retreived
23/07/2026 2:23 AM AWST

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Participate in fund review practices

Participate in fund review practices

Unit of competency
National Code
FNSSUP408
State Code
AUT34
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
45
Description
This unit describes the skills and knowledge required to conduct quality checks and fund reviews. It encompasses conducting data integrity checks, participating in fund review processes according to organisational procedures and communicating review findings to a range of parties.It applies to individuals who use specialised knowledge and systematic approaches to ensure integrity of data and information and meet organisational quality assurance requirements.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Conduct data integrity checks
  • 1.1 Check data input regularly for completeness and correctness
  • 1.2 Review systems and database programs for efficiency and accuracy
  • 1.3 Sample member statements and records for correctness
2. Participate in fund review processes according to organisational procedures
  • 2.1 Collect data and verify according to organisational procedures and relevant regulations
  • 2.2 Reconcile fund records according to organisational procedures
  • 2.3 Prepare fund financial statements and check according to organisational procedures
  • 2.4 Review and update member records and calculate benefits according to organisational procedures
  • 2.5 Prepare review information and provide to appropriate personnel as required according to organisational procedures
No information
No information
Replaces
State Code National Code Title Type
D4340 FNSSUP405A Implement fund review practices Unit of competency
Replaced By
State Code National Code Title Type
OCI34 FNSSUP418 Participate in superannuation fund reviews Unit of competency
State Code National Code Title Type
AVZ0 FNS40915 Certificate IV in Superannuation Qualification