Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify and record system requirements

1.1 Prepare comprehensive specifications based on requirements of potential users that include system objectives, document specifications, and security and records requirements

1.2 Review features of any existing system and records to establish their suitability and usability

1.3 Establish recording processes according to accepted practice and in accordance with legislation and codes of practice

2. Evaluate alternative systems

2.1 Compare and measure features of various systems against user requirements to enable identification of alternative systems and solutions

2.2 Carry out cost–benefit analysis of alternative systems and solutions, and document recommendations

3. Evaluate acceptance test system

3.1 Test system in operational environment to ensure compliance with user requirements, company policy and guidelines, system specifications and relevant legislation or industry codes of practice

3.2 Obtain formal confirmation from all users on acceptability of new system or system changes against all criteria and system specifications

4. Prepare system documentation

4.1 Prepare system documentation thoroughly and accurately, using easily understood language and in clear format to support system implementation and training

4.2 Consult users to ensure clarity, accuracy, thoroughness and usability of system documentation

4.3 Make system documentation easily accessible, and constantly review and update to ensure currency and accuracy

5. Implement reporting systems and records

5.1 Carry out implementation in accordance with specified guidelines and timelines, and establish contingency plans to deal with any potential delays or problems

5.2 Establish effective training schedules and programs to support implementation

5.3 Transfer all data from existing to new or modified system and records without error or loss

5.4 Update systems and records regularly to identify ongoing benefits and threats to organisation

5.5 Maintain files within organisational and statutory requirements, and identify and remedy discrepancies

5.6 Ensure integrity of systems and records complies with organisational and statutory requirements

5.7 Monitor transactions to identify taxation and other liabilities

6. Monitor reporting systems

6.1 Analyse and account for transactions, and correctly relate to accounting period

6.2 Communicate and promote processes for recording and classifying transactions to support internal verification of records

6.3 Standardise sources of input data and documentation in structured formats to minimise errors

6.4 Maintain back-ups in accessible location to safeguard data in accordance with organisational and audit requirements

7. Review reporting procedures

7.1 Systematically check sources of input data and documentation records for accuracy and reliability

7.2 Establish reporting requirements and analyse regularly to identify variations and compliance with established processes for recording and classifying transactions

7.3 Maintain written reports, explanatory notes and financial results to support source documentation