Assessor Resource

FNSACM401
Evaluate and authorise payment requests

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to verify the validity and accuracy of payment requests, prepare payment documentation and authorise payments.

It applies to individuals who may work under limited supervision and hold responsibility in ensuring that controls are adhered to when processing financial transactions.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Verify validity and accuracy of payment request

1.1 Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements

1.2 Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay

1.3 Obtain confirmation of goods or services supply where required to validate request for payment

2. Prepare payment documentation

2.1 Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts

2.2 Complete documentation in accordance with organisational policy and procedures

3. Authorise payment

3.1 Check all payments are authorised accurately and according to organisational policy and procedures

3.2 Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures

3.3 Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements

Evidence of the ability to:

verify and validate the accuracy of payment requests and accurately prepare payment documentation

check and authorise payment requests following organisational policy and procedures, and legislative requirements

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

identify the key requirements of legislation and industry codes of practice relevant to payment systems

describe organisational procedures for evaluating and authorising payment requests

describe the types of payment requests and associated documentation handled by the organisation

describe how payments are coded and allocated in the organisational system.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the account management field of work and include access to:

common office equipment, technology, software and consumables

an integrated financial software system and data.

Assessors must satisfy NVR/AQTF assessor requirements.

Submission Requirements

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)

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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Verify validity and accuracy of payment request

1.1 Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements

1.2 Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay

1.3 Obtain confirmation of goods or services supply where required to validate request for payment

2. Prepare payment documentation

2.1 Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts

2.2 Complete documentation in accordance with organisational policy and procedures

3. Authorise payment

3.1 Check all payments are authorised accurately and according to organisational policy and procedures

3.2 Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures

3.3 Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements

Evidence of the ability to:

verify and validate the accuracy of payment requests and accurately prepare payment documentation

check and authorise payment requests following organisational policy and procedures, and legislative requirements

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

identify the key requirements of legislation and industry codes of practice relevant to payment systems

describe organisational procedures for evaluating and authorising payment requests

describe the types of payment requests and associated documentation handled by the organisation

describe how payments are coded and allocated in the organisational system.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the account management field of work and include access to:

common office equipment, technology, software and consumables

an integrated financial software system and data.

Assessors must satisfy NVR/AQTF assessor requirements.
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.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements 
Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay 
Obtain confirmation of goods or services supply where required to validate request for payment 
Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts 
Complete documentation in accordance with organisational policy and procedures 
Check all payments are authorised accurately and according to organisational policy and procedures 
Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures 
Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements 

Forms

Assessment Cover Sheet

FNSACM401 - Evaluate and authorise payment requests
Assessment task 1: [title]

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:

Assessment Record Sheet

FNSACM401 - Evaluate and authorise payment requests

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: