Assessor Resource

SFICOMP501C
Conduct an investigative audit

Assessment tool

Version 1.0
Issue Date: May 2024


This competency would be undertaken in the context of fisheries management compliance. The purpose of an investigative audit is to identify and capture evidence of record keeping compliance and unlawful transactions. It may occur within a single business only or follow a transaction trail across a number of businesses along the supply chain.

This unit of competency involves planning, conducting and evaluating an audit to identify and capture evidence of record keeping compliance and unlawful transactions.

No licensing, legislative, regulatory 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)

Employability Skills

This unit contains employability skills.



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.

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment evidence required to demonstrate competence in this unit

Assessment must confirm an ability to:

plan, conduct and evaluate an investigative audit according to jurisdictional laws, policies and procedures.

Assessment must confirm knowledge of:

investigative audit procedures and business operating systems.

Context of and specific resources for assessment

Assessment is to be conducted at the workplace or in a simulated work environment.

Resources may include:

case study or workplace scenario

business-related documentation and operational business to audit.

Method of assessment

The following assessment methods are suggested:

questions

practical exercises

project work

demonstration.

Guidance information for assessment

This unit may be assessed holistically with other units within a qualification.

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.

Required skills

analysing and solving problems

working in an orderly and logical manner

organisational, planning and time management skills to sequence tasks, meet timelines and conduct investigations

using technology and equipment required to conduct auditing activities.

Literacy skills used for:

developing an audit plan

conducting an audit

preparing flow charts and working papers

reading and interpreting business and processing documentation

using spreadsheets

writing audit plans, programs and reports.

Numeracy skills used for:

evaluating transactions

preparing audit plans, programs and reports.

Required knowledge

audit procedures and techniques, including data pattern matching

business's operating systems, including product movement, processing, sales, purchases, receivals, inventory and financial

evidence gathering and maintenance in accordance with rules of evidence

fraudulent practices used within the seafood industry

industry business practices.

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Resources may include:

budgetary commitment

computer and data analysis software

full and free (search warrant) access to records

personnel with required knowledge and expertise

vehicles.

Business's operating systems may include:

finances

inventory

processing

product movement

purchases

receivals

sales.

Targeted activity may include:

handling of illegal catches

misrepresentation of:

fish catches

inventory stock

products

money laundering

quota inconsistencies

unrecorded sales.

Material information/evidence may include:

business plans, journals and ledgers

cash book/general ledger/computerised accounting systems

energy purchase accounts (e.g. gas and electricity)

fish stocks (e.g. unprocessed and processed)

freight registers

personnel time sheets

product labels

source documents for accounting, including purchase, sales, processing and freight documentation

stock control, processing and accounting instruction manuals

telephone records

unrecorded cash floats

vehicle log books.

Audit methodologies may include:

cross-referencing of documentation between business's operating systems

substantive selection of transactions over a period of time as specified in the audit plan

target specific suppliers, customers, locations, species, stock volume, freight services and times as specified in the audit plan

third-party verification

combination of above methodologies.

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
Knowledge of business structures and practices associated with fish processing, wholesale and retail marketing is developed. 
Scope of the audit program is determined in the context of relevant fisheries management arrangements, a fraud risk assessment and intelligence available. 
Initial audit objectives are defined in the context of the type of business being audited. 
Resources required to conduct the audit are determined and arrangements made for their allocation. 
Flowchart and working papers documenting the business's operating systems are prepared. 
The potential for targeted activity within the business entity's fishing operation is assessed. 
The potential for success in locating authentic material information/evidence related to the targeted activity and audit objectives is assessed. 
Appropriate audit methodologies and types of material information/evidence are selected. 
Selected audit methodologies are incorporated into the audit plan and adjusted, as required, by the audit progress. 
Stocktake is conducted in accordance with the audit plan. 
Substantive tests of transactions within the business's operating systems are performed for the time period specified in audit plan, and anomalies and irregularities identified. 
Results of investigations are documented. 
Information/evidence obtained is sufficient, complete, reliable and valid. 
Evidence meets jurisdictional requirements for admissibility of evidence. 
Audit report is prepared and issued to relevant authorities. 

Forms

Assessment Cover Sheet

SFICOMP501C - Conduct an investigative audit
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

SFICOMP501C - Conduct an investigative audit

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: