Ethics

FNSRSK511_AssessmentTask2of2Activity3.v1.0.docx

Activity 3: Identify and assess controls.

This activity requires you to identify and assess risk controls.

To do so, you are required to follow the steps given in Checklist 3 and complete the templates associated with each step.

The supervisor or trainer/assessor will:

· Supervise and observe the student performing this activity.

· Place a tick mark against each step given in the checklist after the student performs/implements the step.

· Sign off the checklist and ask the student for the submission of templates associated with each step.

For trainer/assessor: For the simulated environment

· The trainer/assessor or supervisor must ensure that the student is made familiar with the existing workplace practices used in the workplace.

· The trainer/assessor must ensure that the student has access to the following in the simulated workplace scenario:

· Office equipment, technology, software and consumables

· Computer

· Internet

· MS Office

· Printer or e-printer

· Team members

· Legislation, regulations and codes of practice applicable to risk management

· Standards for risk management as indicated by regulators.

· The trainer/assessor will take on the role of the lender.

· The trainer/assessor must ensure that the student has access to the internal and external stakeholders of the training organisation.

· The trainer/assessor take on the role of Operations Manager.

· The trainer/assessor will further assign two (2) finance team members and two (2) external to the student.

· The trainer/assessor will assign the role of the finance team members to the staff members of the organisation.

· The trainer/assessor must brief the finance team members regarding information given in the case study.

· The trainer/assessor must assess the student using the performance checklist provided.

Checklist 3: Identify and assess controls.

Steps	Place a tick mark, once completed
Step 1: Examine the application and efficacy of existing controls. · Analyse the risk factors and existing risk control given in the case study. · Evaluate application and effectiveness of existing controls. · Further, record the following using the Excel Sheet provided along with this assessment. · Existing controls · Evaluation of existing controls	·
Step 2: Determine the need for updated or new controls to address identified risks.	·
Step 3: As needed, recommend changes to existing controls and report the need for new controls using the Excel Sheet provided along with this assessment.	·
Sign off: Supervisor’s signature: Sign-off date: