The notion of management competencies is prominent in the recent major Australian policy document, the Karpin Report. It also has a long history stretching back well before the National Training Reform Agenda placed competencies on the education and training map in Australia. In this paper, various attempts to institute management competencies will be outlined and their limitations discussed. Many of these limitations centre on the assessment of these management competencies. From this discussion, some desirable principles for the assessment of management competence will be proposed. Finally, a case study of the assessment of managers' competence in the Australian Tourism and Hospitality industry will be outlined and discussed in order to show the strengths and limitations of the proposed assessment principles.