Monitor systems and provide feedback to appropriate management.

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

1. Monitor financial transactions.

1.1 Check that transactions  comply with organisational procedures.

1.2 Check that balances prepared by others are accurate and comply with organisational procedures.

1.3 Identify financial and system discrepancies  and resolve according to level of responsibility.

1.4 Implement financial systems  and financial control systems according to organisational procedures.

1.5 Monitor systems and provide feedback to appropriate management.

2. Complete routine records and reports.

2.1 Complete routine records and reports  accurately within designated timelines.

2.2 Process end or close day trading and reports.

2.3 Forward reports to appropriate colleagues or department.

2.4 Reduce waste by minimising use of printed materials.

This section describes the skills and knowledge required for this unit.

Required skills 

• literacy skills to read and interpret detailed information about service charges
• numeracy skills to:

• work with large amounts of numerical data
• identify discrepancies and inconsistencies in numerical data
• reconcile individual and whole operating period transactions

• problem-solving skills to work through potentially complex financial transaction to identify and rectify variances and discrepancies
• technology skills to work with accounting or front office software.

Required knowledge 

• role of night audit in overall financial management systems
• financial control processes and procedures that apply to front office operations, including reporting cycles.