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 candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

establish, administer and manage a trust in a practice on at least two occasions.

In the course of the above, the candidate must:

comply with statutory and legislative requirements for the operation of trust accounts

use standard accounting principles and financial management practices

follow practice policies and procedures.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

accounting and bookkeeping techniques for financial control

auditing and reporting requirements relevant to trust account operations

professional and ethical behaviour relevant to managing trust accounts

legislative and professional requirements relating to client security, privacy and confidentiality

features of commonly used IT and management systems, including trust account management software

trust account operations

practice policies and procedures relating to trust and office accounts

financial, privacy, disclosure and business legislation and regulations relating to trust accounts

security and ethical privacy procedures in relation to trust account operations

statutory standards on the operation, reporting and auditing requirements of a trust account

key processes required to monitor financial performance evaluation.

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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.

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
Identify, record and continuously update practice trust account requirements in line with relevant legislation and regulations
Develop policies and procedures for trust account-keeping according to trust account requirements, key principles of accounting and financial management, and legislative requirements
Identify and apply criteria for evaluating electronic or manual trust accounting systems and confirm compliance with trust account requirements
Identify and access source documents for trust transactions according to legislative requirements and practice policies and procedures
Produce documentation of trust records and transactions and confirm documentation is an accurate record of practice transactions on behalf of clients
Confirm transactions are supported by required authorisation and documentation and according to legislative requirements and practice policies and procedures
Record entries and transactions according to relevant trust account requirements, and provide to relevant stakeholder, where required
Identify discrepancies in entries or documentation and confirm clarification or resolution
Report discrepancies to relevant authorities, where required
Check audit and security arrangements and confirm they provide adequate protection for client confidentiality and client funds held in trust
Authorise and manage disbursements between trust and office accounts according to legislative requirements and practice policies and procedures
Make required arrangements with third parties and other professionals and confirm that practice trust accounts comply with legislative requirements
Distribute practice trust administration policies and procedures to relevant staff according to practice and legislative requirements
Facilitate continuous training for relevant practice staff according to legislative requirements and practice policies and procedures
Develop and implement procedures for monitoring records and ensuring the security of trust account records
Review documentation and other reporting requirements for compliance with legislative requirements
Check and monitor trust account entries and transactions and confirm compliance with legislative requirements and practice policies and procedures
Monitor trust account transactions and confirm authorisation is obtained prior to any disbursements
Verify periodic reconciliation in compliance with legislative requirements
Prepare and discuss periodic financial reports with clients and identify issues, where required
Maintain records for convenience and auditing
Meet legislative audit requirements

Assessment Cover Sheet

BSBCNV614 - Apply principles of trust accounting

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

BSBCNV614 - Apply principles of trust accounting

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: