You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
Critical aspects: | • understanding of scope of own responsibility is demonstrated • an understanding of trust accounting principles and practices within the limits of the employee’s responsibilities is demonstrated • an understanding of a firm’s trust and general accounting procedures is demonstrated • correct usage of different types of documents is demonstrated • documentation is filled out correctly and presented to instructing legal practitioner within agreed timelines • records of disbursements are accurate and up-to-date, according to a firm’s policies and procedures • evidence of knowledge of the type of discrepancies and irregularities which could arise and standard resolutions • discrepancies and irregularities are resolved within scope of own responsibility and those outside of own responsibility are referred immediately to instructing legal practitioner, eg. files with inadequate funds • calculations and reconciliations are checked for accuracy numerical information is checked • contact with client regarding inadequacy of funds is handled sensitively and according to a firm’s policies and procedures • legal actions, legislative requirements and invoicing procedures are explained to client in simple language, where appropriate • check for written authorisation from client and instructing legal practitioner is obtained when moving trust account money into interest bearing account • documentation prepared at the completion of a legal matter is complete and accurate • file/matter number is attached to all relevant documentation and such documentation is filed appropriately • a firm’s trust accounting procedures, legislative and regulatory requirements are complied with • non-disclosable information is not communicated and where any doubt exists as to the information’s status it is not disclosed • activities, actions and outcomes are documented and time is recorded • honesty and integrity are demonstrated in all financial dealings • all work is conducted within accepted codes of conduct including those relating to: maintaining confidentiality, use of company property, duty of care, ethical behaviours, privacy, non-discriminatory practice, conflict of interests and compliance with reasonable direction • reports in relation to trust monies are compiled and reviewed in line with firm’s policies and procedures |
Resource implications: | The assessor must have access to appropriate documentation and resources normally found in the work environment and required to allow the job or task to be properly performed. These may include: • appropriate legislation and regulations relevant to assisting clients, maintaining business accounts, maintaining trust accounts and transferring trust monies • workplace manuals and reference materials such as company policy, procedural manuals and checklists • appropriate technology such as computers with relevant software calculators, adding machines and imprinters |
Consistency in performance: | This unit of competency will require evidence to be collected across a range of events, eg. dealing with trust account requirements, and over a period of time to ensure that situational variables are consistently achieved. |
Context of assessment: | Evidence of competency can be met in different situations, including: • on the job assessment • off the job assessment • placement in an enterprise • participation in a New Apprenticeship (traineeship) arrangement • use of a Practice Firm or simulated work environment • flexible delivery methods used by training providers to cater for distance education students • Recognition of Prior Learning, Recognition of Current Competencies (in skill areas where there has been no significant change to work practice in recent times). Evidence gathering methods may include: • demonstration • questioning • workplace performance • role-play • simulation • projects/assignments • written tests • skills portfolio • third party reports |
Underpinning knowledge and skills | Knowledge • a firm’s general and trust accounting policies, procedures and systems • bank procedures and policies/requirements • relevant current legislation (see Range of Variables) • legal terminology in relation to trust accounting and the matter at hand • procedures for authorising cheques against the trust account • preparing cheques • security/confidentiality/privacy Australian Standards Association Code of Practice and Accounting Standards • Australian Accounting and Auditing Standards • Australian Taxation Office regulations • establishing a trust account • transferring assets • statutory charges, taxes, and other fees applicable to institutions Skills • literacy: follows written or verbal sequenced instructions about a complex legal matter • numeracy: knowledge of mathematical procedures in relation to trust accounting, financial calculations and bookkeeping; interprets, compares, calculates and checks for accuracy with money in legal context • interpersonal skills in relation to co-workers and clients • use of accounting records system • communication: listens to clear instructions; questions to clarify information |
List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
This Unit covers the maintenance of trust monies related to specific files, under the instruction of a legal practitioner.
Note: It may be illegal for a person without a current legal practice certificate to provide legal advice, to sign off on legal work and receive trust account monies. The use of trust account monies is subject to legislative control. Accordingly work carried out in regard to trust account monies occurs under the instruction of a legal practitioner and is of a complex but specified nature. Therefore the position of this unit at AQF Level 4 is in relation to the level of responsibility and technical complexity required in the tasks involved.
This unit can be assessed alone or in combination with other units making up a job role.
Element | Performance Criteria |
Check that trust funds are adequate | • Relevant sources are checked for information regarding disbursements and costs • Estimated disbursements and costs are calculated and reconciled with available trust funds • Instructing legal practitioner is notified where there are inadequate available funds • Client is notified that further funds are required, where necessary, according to a firm’s policies and procedures |
Draw cheque/s against the trust account | • Appropriate requisition form is completed • Authorisation is gained from instructing legal practitioner according to a firm’s policies and procedures • Cheque/s are inspected for accurate amount and correct account source • Instructing legal practitioner is organised to verify and sign cheques • Accurate records are kept of all file related disbursements and costs |
Prepare documentation upon completion of legal matter | • Relevant information/documentation from file is collated • Monies remaining in trust account are reconciled • Discrepancies/irregularities are investigated promptly and appropriate follow up action is taken |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
| Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
|---|---|---|---|
Student name:
Student ID:
I declare that the assessment tasks submitted for this unit are my own work.
Student signature:
Result: Competent Not yet competent
Feedback to student
Assessor name:
Signature:
Date:
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
(add lines for each task)
Feedback to student:
Overall assessment result: Competent Not yet competent
Assessor name:
Signature:
Date:
Student signature:
Date: