Required skills

numeracy skillsto read financial reports and calculations

culturally appropriate communication skills to relate to people from diverse backgrounds and with diverse abilities

communication and teamwork skills to work cooperatively with other board members management and staff of the organisation members community and key stakeholders

evaluation and decisionmaking skills to monitor and review information presented to the board and enact decisions

initiative and enterprise skills to set priorities when making financial decisions

Required knowledge

concept of community control of organisations and how it may impact on financial decisions

cultural context in which Aboriginal and Torres Strait Islander boards operate including their role in upholding traditional and cultural values and how that might impact on financial decisions

geographic social economic and political contexts in which particular organisations operate and how these may impact on financial decisions

organisational procedures and processes regarding finances

organisationalvision and objectives

previous budget performance and financial reports

purpose and components of financial reports

relevant protocols and cultural responsibilities when making financial decisions

statutoryand funding body requirements relevant to the organisations financial decisionmaking

statutory and funding body responsibilities in relation to financial reporting and assets

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 and evidence required to demonstrate competency in this unit

Evidence of the ability to

understand a variety of financial reports

monitor the financial status of the organisation

make financial decisions according to organisational vision and objectives that comply with legal and contractual requirements

responsibly manage organisational assets

Context of and specific resources for assessment

Assessment must ensure

participation on an actual or simulated board

access to examples of financial reports and other relevant documents

knowledge and performance are assessed over time to confirm consistency in performance

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples are appropriate for this unit

observation of performance on a board or simulated board

direct questioning combined with reflection of practical board performance by the candidate

analysis of responses to case studies and scenarios

observation of presentations and group discussions

oral or written questioning to assess knowledge

observation of performance in role plays

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector workplace and job role is recommended for example

BSBATSIMC Oversee the organisations annual budget

BSBATSIM414C Oversee the organisation's annual budget

BSBATSIMA Oversee asset management

BSBATSIM420A Oversee asset management.

Financial reports may refer to:

Independent advisers may include:

Statutory responsibilities may relate to:

External influences may include: