Skills list requirements

Code: PER1

Competence is demonstrated when you show you are aware of the qualities required of a professional in the workplace. You should be confident in your professional ability, accept responsibility for your work and complete all the tasks required to finish work.

Demonstrate your competence by:

• successfully managing a change in the workplace
• representing the organisation’s core values
• managing your emotions in order to maintain your professionalism
• taking initiative by identifying and solving a problem
• completing training and reviewing your training needs
• requesting assistance when necessary in order to complete a task
• improving your performance by asking your colleagues to evaluate and review your work
• participating in opportunities to update professional and personal skills in order to better meet the requirements of your role.

Code: PER2

Competence is demonstrated when you build relationships and communicate with others. You should be able to modify your behaviour when necessary to work with others to meet shared goals and operate effectively in a team environment.

Demonstrate your competence by:

• meeting individual and team goals, tasks, responsibilities and schedules
• modifying your behaviour to work better with others
• establishing business contacts by interacting with others
• working effectively as part of a team
• assisting a colleague achieve their objective or finish a task
• using key contacts and networks to benefit the organisation
• exchanging information with colleagues to support organisational objectives.

Code: PER3

Competence is demonstrated when you use verbal, written and interpersonal communication skills effectively in the workplace. This means that you can communicate appropriately with colleagues, clients and other key parties. You should be able to adjust your communication style to suit the audience and situation, listen effectively and give and receive advice.

Demonstrate your competence by:

• chairing a meeting or discussion group
• presenting on a topic relevant to your role
• making a significant written or verbal contribution to a meeting
• using appropriate communication styles with people from a different culture
• effectively resolving a conflict or disagreement with a colleague or client
• using your negotiation skills to resolve an issue or problem
• drafting letters, project plans or other documents related to your work.

Code: PER4

Competence is demonstrated when you understand and evaluate issues then make decisions based on your analysis and professional judgement.

Demonstrate your competence by:

• checking that information gathered for analysis is accurate and comprehensive
• evaluating information against set criteria
• interpreting trends, developing options and identifying key issues relating to facts
• making a decision based on the information gathered, ideas generated and evaluation performed
• contributing to written or verbal communication on decisions or proposals
• contributing to business improvements or new processes.

Code: LEA1

Competence is demonstrated when you behave ethically and with personal integrity. You should respect confidentiality, compliance and the ethical obligations of your chosen profession. You should be able to identify the need for good governance and how it can be effectively implemented into an organisation.

Demonstrate your competence by:

• complying with the organisation’s policies and procedures
• applying the code of conduct of an organisation and profession in relevant situations
• making ethical decisions based on honesty, integrity, objectivity and confidentiality
• evaluating whether the resources which help you to make ethical decisions about corporate governance are appropriate
• contributing to a presentation, meeting or communication on ethical standards.

Code: LEA2

Competence is demonstrated when you recognise and readily adapt your behaviour in respect of diversity. Workplace diversity includes the diversity of background, culture, gender, ability, religious beliefs, lifestyle preferences and generational differences.

Demonstrate your competence by:

• adjusting your behaviour to recognise difference
• applying your understanding of differences in communication material
• researching workplace diversity and applying knowledge to appropriate situations
• adjusting your personal behaviour where appropriate
• where appropriate, encouraging others to adjust their behaviour, so the group may succeed
• attending training or events that broaden your experience and knowledge of diversity.

Code: LEA3

Competence is demonstrated when you understand the importance of planning and contributing to improving business plans and processes. You should be able to set challenging goals and objectives and understand how organisational goals relate to personal and team goals.

Demonstrate your competence by:

• contributing to or supporting a new idea, strategy or process
• participating in trend analysis to inform business plans and improvements
• contributing to your performance development plan, outlining goals, objectives and performance measures
• planning and adapting work to achieve personal, team or organisational goals and objectives
• participating in the business planning process
• identifying how a new strategy or process will affect everyday tasks.

Code: LEA4

Competence is demonstrated when you can contribute to problem solving and decision making by using relevant information and available resources. You should be able to identify issues and recommend potential solutions based on your research.

Demonstrate your competence by:

• identifying problems and issues
• contributing to the resolution of an issue in your organisation
• contributing to written or verbal communication on issues or problems to be solved and the decisions taken to achieve a resolution
• analysing how decisions will affect your work.

Code: BUS1

Competence is demonstrated when you interpret and apply relevant legislation and standards to your work. You should understand the regulatory environment that affects how the organisation operates.

Demonstrate your competence by:

• applying regulations or professional standards to your work
• contributing to a presentation, meeting or communication about the regulatory standards that apply to professional activities explaining how regulations impact the organisation
• applying regulations to complete a task.

Code: BUS2

Competence is demonstrated when you can use information technology and systems to effectively perform in the workplace. You should be able to use software and technology to manage your work and understand the importance of information technology and information systems controls.

Demonstrate your competence by:

• contributing to managing information technology in an organisation. This may include participating in, organising or conducting induction training, ongoing training, document control, security of information and data or privacy protection
• working with information technology professionals to design a solution to a reporting, recording or financial investigation issue
• using software and applications for communication and collaboration
• contributing to the assessment of associated risks of information technology and systems in the workplace
• contributing to strategies to control risks faced by the organisation because of the use of information technology and systems
• effectively dealing with business and accounting issues by using information technology systems and tools.

Code: BUS3

Competence is demonstrated when you show your understanding of how the domestic and global environment influences the organisation or client’s business. You should be able to understand how local and global market trends affect business and continually expand your knowledge to gain a better understanding of the business environment.

Demonstrate your competence by:

• researching to enhance your understanding of the business environment
• researching factors that influence the business environment
• presenting to or briefing key parties about the business environment
• contributing to strategies and processes for an organisation
• contributing to planning in an organisation.

Code: BUS4

Competence is demonstrated when you understand and apply business analysis tools and skills for risk management. You should be able to identify the level of risk, the different types of risk, how future risk will affect the business and contribute to planning how business can deal with the identified risk.

Demonstrate your competence by:

• researching the factors that influence business and the business environment and how these will affect the business strategy
• contributing to planning how the organisation will respond to risk
• communicating results of business analysis and risk management strategies to key parties
• contributing to a presentation, meeting or communication to inform key parties on business risks.

Code: AUD1

Competence is demonstrated when you contribute to the various stages of audit planning. You should be able to identify key parties, research and contribute to the preparation of audit proposals, engagement letters and budgets.

Demonstrate your competence by:

• contributing to the preparation of an audit proposal, audit engagement letter and audit budget
• identifying and researching the audit client’s industry and business environment
• contributing to meetings or discussions about the audit plan
• contributing to the briefing of an audit team on audit issues.

Code: AUD2

Competence is demonstrated when you participate in performing an audit.

Demonstrate your competence by:

• following an audit plan under supervision
• participating in selecting appropriate audit methodology
• identifying areas of risk in relation to audit objectives
• contributing to the preparation of a draft audit report
• monitoring and evaluating an audit against objectives
• analysing business and financial risks.

Code: AUD3

Competence is demonstrated when you promote audit awareness within the organisation or with clients. You should have current knowledge of audit standards.

Demonstrate your competence by:

• informing key parties of a technical update by contributing to internal or external communications
• contributing to a presentation on audit issues
• assisting an organisation or client understand audit issues
• applying regulatory changes and audit methodologies to your work
• contributing to a presentation, meeting or communication promoting audit awareness.

Code: AUD4

Competence is demonstrated when you participate in the development and maintenance of audit controls and improvements in the audit process.

Demonstrate your competence by:

• contributing to improving the audit process
• contributing to the development of audit controls
• contributing to the maintenance of audit controls.

Code: FAC1

Competence is demonstrated when you contribute to determining the financial reporting requirements of an organisation. You should be able to identify the information requirements of a report user and identify, apply and monitor changes to financial reporting requirements.

Demonstrate your competence by:

• determining the financial statements that are required by an organisation or a client
• applying regulatory requirements when preparing statements
• researching changes to regulations that affect the organisation or client
• researching the financial reporting regulatory environment in the organisation’s or client’s industry
• contributing to a presentation, meeting or communication about reporting requirements.

Code: FAC2

Competence is demonstrated when you process an organisation’s financial information for financial statements.

Demonstrate your competence by:

• processing financial information required for periodic financial statements
• recording and measuring financial information according to accounting standards and regulatory requirements
• contributing to a presentation, meeting or communication that explains how financial information is processed
• operating the relevant computer software the organisation uses to process financial information
• applying the organisation’s policy on expense recognition, asset recognition and depreciation in your work.

Code: FAC3

Competence is demonstrated when you prepare an organisation’s draft and final financial statements. Your preparation of financial statements should meet objectives and all regulatory requirements. You should be able to recognise when an expert opinion is required.

Demonstrate your competence by:

• preparing or contributing to the preparation of financial statements
• preparing or contributing to the preparation of consolidated financial statements and disclosure notes
• identifying the impact of the financial statements on stakeholders
• analysing and interpreting financial statements for key parties
• gathering information required to prepare a financial statement
• consolidating financial statements into a formal document for distribution by management
• preparing financial statements in compliance with accounting standards and regulatory requirements
• researching changes to regulations that affect how financial statements are prepared.

Code: FAC4

Competence is demonstrated when you establish the financial information of an organisation is reliable. You should be able to understand systems and assurance processes and assess their effectiveness.

Demonstrate your competence by:

• contributing to a process improvement that makes financial information more reliable
• applying the systems and assurance processes used in an organisation
• testing and monitoring relevant information systems for their effectiveness, including whether they are cost effective, meet reporting needs, are easy to use and are accessible
• preparing reports or other documents that summarise how information systems were tested or monitored for their effectiveness
• analysing the key financial reporting risks of an organisation
• contributing to a presentation, meeting or communication about the effectiveness of systems and assurance processes.

Code: FPL1

Competence is demonstrated when you contribute to establishing and defining a client’s financial situation. You should be able to generate and explain strategic options to a client.

Demonstrate your competence by:

• assessing a client’s risk profile
• researching a client’s situation
• contributing to establishing the client’s needs or objectives
• contributing to a presentation, meeting or communication about the client’s situation
• contributing to a meeting with the client about their needs or objectives
• maintaining the client relationship through consistent interaction.

Code: FPL2

Competence is demonstrated when you participate in developing a financial plan.

Demonstrate your competence by:

• contributing to developing a financial plan
• contributing to establishing the scope of potential services to provide to the client
• discussing recommendations on how to implement strategies
• developing a schedule for a financial plan
• researching issues relevant to the development of a financial plan
• contributing to evaluating and presenting a range of options to the client.

Code: FPL3

Competence is demonstrated when you participate in implementing a financial plan. You should be able to define key assumptions, establish actions, follow client instructions and provide services to a defined standard.

Demonstrate your competence by:

• applying the relevant policy and procedures for implementing financial plans
• conducting analysis and modelling exercises
• developing a schedule that outlines the stages of the implementation of the financial plan
• assisting the client with implementing the recommendations in the financial plan, including preparing a budget, investing in a share portfolio or consolidating superannuation accounts
• corresponding with clients about future action and timeframes
• discussing key strategic assumptions with clients.

Code: FPL4

Competence is demonstrated when you participate in reviewing a financial plan. You should be able to monitor performance, propose or implement changes and recognise factors that might affect a financial plan.

Demonstrate your competence by:

• contributing to monitoring and measuring the service
• performance of a financial plan
• contributing to the implementation of revisions to a financial plan
• monitoring the performance of a financial plan
• corresponding with clients about revisions to the financial plan.

Code: FRM1

Competence is demonstrated when you participate in establishing the financial objectives and risk strategies for an organisation. You should be able to understand the organisation’s financial situation and how the objectives, strategies and business plan will impact the present and projected financial position.

Demonstrate your competence by:

• contributing to establishing financial objectives
• identifying the effects of financial strategies on key parties
• identifying the types of financial risk the organisation is exposed to
• determining the organisation’s attitude to risk
• assessing the effect of external factors on the financial strategies of an organisation
• applying financial models, cash flow and profitability patterns in analysis of financial risk
• contributing to written or verbal communication on financial strategies including critical assumptions
• contributing to risk profiles or financial risk strategies for an organisation
• contributing to a presentation, meeting or communication about financial objectives and risk strategies.

Code: FRM2

Competence is demonstrated when you participate in the monitoring and managing of an organisation’s financing operations. You should be able to evaluate investment sources and methods, monitor cash flow, contribute to managing surplus funds and assist with determining potential investment options.

Demonstrate your competence by:

• contributing to managing the capital structure of an organisation
• assessing and comparing possible funding options, including debt and equity
• contributing to choosing different funding sources and options
• contributing to monitoring an organisation’s cash flow and suggesting how surplus funds can be managed
• contributing to cash flow budgets
• observing investment policy guidelines.

Code: FRM3

Competence is demonstrated when you participate in managing the financial risk of an organisation. You should be able to evaluate the effectiveness of the financial risk management process and contribute to an organisation’s response to risk and the external environment. You should know how the various elements of risk can impact the organisation.

Demonstrate your competence by:

• identifying and measuring current and potential financial exposure
• contributing to the design or evaluation of effective systems or procedures for internal control
• analysing exposures and making recommendations to decrease financial risk
• contributing to a presentation, meeting or communication about managing financial risk
• assisting to ensure investment decisions align with the organisation’s risk attitude and meet required returns and payback.

Code: FRM4

Competence is demonstrated when you participate in developing performance related information systems and establishing financial risk control systems. You should be able to contribute to policies and procedures for managing financial exposure and designing or evaluating effective systems.

Demonstrate your competence by:

• assessing key risks
• contributing to written or verbal communication about internal control systems
• identifying and developing policy and procedures for managing exposure
• explaining how internal control systems contribute to effective risk management.

Code: INS1

Competence is demonstrated when you contribute to assessing the financial position of an organisation or individual.

Demonstrate your competence by:

• identifying and analysing risk factors
• identifying critical risks, options, advantages, conducting sensitivity analysis and test conclusions
• contributing to written or verbal communication on the financial position based on research and testing contributing to commercial viability reports.

Code: INS2

Competence is demonstrated when you participate in evaluating, identifying and recommending strategic options for underperforming, possibly insolvent or insolvent organisations.

Demonstrate your competence by:

• collecting and analysing relevant data
• identifying, evaluating or recommending strategic options
• contributing to recommendations of the strategic options available
• conducting comparative analysis and establishing criteria for making appraisals.

Code: INS3

Competence is demonstrated when you participate in managing a reconstruction. You should be able to monitor, review and assess the progress of a reconstruction plan.

Demonstrate your competence by:

• contributing to developing a plan
• contributing to implementing the reconstruction plan, including organising extension of funding and agreeing interim terms of operation with key parties
• contributing to a report on a reconstruction, including actual performance against objectives
• contributing to a plan with established timeframes.

Code: INS4

Competence is demonstrated when you participate in the liquidation of an organisation. You should be able to identify how a debtor becomes bankrupt and determine the appropriate form of administration.

Demonstrate your competence by:

• preparing a reconciliation of expected and actual results
• evaluating options and contributing to the recommendation of a form of administration
• performing daily tasks in liquidating the company, including organising sale of assets
• contributing to a presentation, meeting or communication about managing aspects of the liquidation
• setting valuation parameters and identifying best options when realising assets.

Code: MAN1

Competence is demonstrated when you contribute to the operational strategy of an organisation. You should be able to contribute to forming strategy, business plans, budgets and financial decision making.

Demonstrate your competence by:

• contributing to the creation of management accounting strategies and processes
• contributing to the preparation of a developmental, operational or capital budget
• evaluating a business plan
• evaluating projects against their objectives, including key assumptions, project life analysis, target costing and conducting risk, sensitivity or probability analysis
• contributing to a presentation, meeting or communication that evaluates a project
• contributing to written or verbal communication about an operational strategy.

Code: MAN2

Competence is demonstrated when you actively participate in the design of organisational processes. You should be able to monitor financial aspects of organisational change and evaluate, design, redesign or processes.

Demonstrate your competence by:

• preparing a financial assessment of an organisational design or redesign
• monitoring financial aspects of an organisational design
• evaluating the effectiveness of an organisational design
• contributing to monitoring financial aspects of organisational change, for example modelling changes in economic assumptions
• initiating or supporting change to improve the management accounting function.

Code: MAN3

Competence is demonstrated when you contribute to developing performance measurement systems. You should be able to contribute to business planning, cost control, budgeting and organisational design and development.

Demonstrate your competence by:

• developing improvements to performance measurement systems
• participating in the development of performance measurement, for example key performance indicators or scorecards
• evaluating the effect of external and internal organisational relationships on measuring performance
• evaluating how performance measurement can be used to achieve objectives
• using calculations to measure performance
• contributing to written or verbal communication about performance measures.

Code: MAN4

Competence is demonstrated when you develop performance related information systems and establish financial control systems. You should be able to contribute to the design, implementation and review of an information technology control system.

Demonstrate your competence by:

• contributing to the design, implementation or review of an organisation’s information technology control system
• using information technology to develop controls
• contributing to written or verbal communication about how information systems were tested or monitored for their effectiveness.

Code: TAX1

Competence is demonstrated when you participate in taxation planning activities for an organisation or individual. You should be able to establish and evaluate an organisation’s or individual’s taxation strategy.

Demonstrate your competence by:

• preparing an assessment of an existing taxation strategy
• advising on a taxation strategy
• preparing research used for establishing or assessing the taxation strategy of a client
• contributing to a meeting during which a client’s taxation strategy is discussed
• contributing to a plan for the timing of taxation liabilities and taxation planning for the future.

Code: TAX2

Competence is demonstrated when you participate in determining the taxation position and liability of an organisation or individual. You should be able to provide advice on the taxation effects of transactions and events while meeting the reporting, payment and compliance obligations of an organisation or individual.

Demonstrate your competence by:

• calculating taxation liability
• contributing to ensure that taxation reporting and compliance obligations are met
• corresponding with clients regarding taxation reporting and compliance obligations
• distinguishing between legitimate taxation planning, taxation avoidance and taxation evasion
• contributing to a meeting where taxation advice is given.

Code: TAX3

Competence is demonstrated when you promote taxation awareness within the organisation or with clients. You should be able to explain the organisation’s response to taxation developments and have current knowledge of changes in taxation legislation, regulation and case law.

Demonstrate your competence by:

• informing key parties of a technical update by contributing to external or internal communication
• contributing to a presentation, meeting or communication on taxation issues
• contributing to an organisation’s response to taxation issues
• promoting an organisation’s or client’s understanding of taxation issues
• contributing to taxation training discussing changes in taxation legislation, regulation or case law.

Code: TAX4

Competence is demonstrated when you can participate in the representation, negotiation and litigation of taxation matters in an organisation or on behalf a client.

Demonstrate your competence by:

• representing an organisation or client on taxation matters
• contributing to negotiation on taxation matters
• corresponding with taxation authorities to negotiate on behalf the organisation or client
• contributing to written or verbal communication required by internal or external parties for the negotiation of taxation matters.