Unit of competency Outline

Date retreived
23/07/2026 1:06 PM AWST

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Assist organisation to meet regulatory superannuation compliance requirements

Assist organisation to meet regulatory superannuation compliance requirements

Unit of competency
National Code
FNSSUP422
State Code
OCI29
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
04/11/2020
View on TGA
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
081105 - Investment And Securities
Original Release Date
11/03/2021
Nominal Hours
50
Description
This unit describes the skills and knowledge required to assist an organisation to meet compliance requirements relevant to superannuation. It involves identifying and assisting the organisation to comply with the legislative requirements of the Australian Financial Complaints Authority (AFCA), Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC), Australian Taxation Office (ATO), and Australian Transaction Reports and Analysis Centre (AUSTRAC).The unit applies to those who use specialised knowledge to evaluate complex information and compliance requirements to implement quality assurance practices.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements, including those of APRA, ASIC, ATO and AUSTRAC. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Identify compliance requirements
  • 1.1 Identify roles of compliance regulatory bodies
  • 1.2 Identify legislation and regulations determining compliance
  • 1.3 Identify reporting requirements of relevant legislation
2. Facilitate compliance audits
  • 2.1 Provide information for annual review and compliance reports within required timeframes to compliance auditors
  • 2.2 Provide relevant stakeholders with required information
  • 2.3 Collate and prepare statutory reports required by regulatory bodies
  • 2.4 Store documents and records according to regulatory requirements and organisational policies and procedures
3. Assist in confirming compliance requirements are met
  • 3.1 Review documentation and confirm superannuation compliance requirements are met
  • 3.2 Review and confirm that organisational procedures and guidelines regarding superannuation compliance requirements are followed
  • 3.3 Review and record member communications and confirm that compliance requirements are met
  • 3.4 Communicate implications of compliance and non-compliance to member
  • 3.5 Maintain member documentation according to organisational procedures
  • 3.6 Report irregularities within required timeframes to required stakeholders according to legislative and organisational requirements
  • 3.7 Integrate new compliance requirements into work practices as required
4. Prepare information for statutory reports
  • 4.1 Identify organisational guidelines for preparing information for statutory reports
  • 4.2 Identify requirements for taxation returns and statutory reports
  • 4.3 Identify compliance requirements for required regulatory bodies
  • 4.4 Prepare information according to regulatory guidelines and organisational procedures
  • 4.5 Forward information to relevant internal and external parties
5. Implement quality assurance practices
  • 5.1 Identify organisational quality assurance practices and make recommendations for improvement where required
  • 5.2 Implement system and process checks, and identify irregularities and potential fraudulent activity
  • 5.3 Identify best practice standards and integrate new compliance requirements into work practices as required
  • 5.4 Undertake training and professional development to maintain currency and develop own skills and knowledge
No information
No information
Replaces
State Code National Code Title Type
AUT21 FNSSUP402 Assist in meeting superannuation compliance requirements Unit of competency
State Code National Code Title Type
BFX1 FNS40920 Certificate IV in Superannuation Qualification