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All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |
| SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
| REGISTERED QUALIFICATION: |
| Diploma in Internal Auditing |
| SAQA QUAL ID | QUALIFICATION TITLE | |||
| 110584 | Diploma in Internal Auditing | |||
| ORIGINATOR | ||||
| Tshwane University of Technology (TUT) | ||||
| PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | NQF SUB-FRAMEWORK | |||
| CHE - Council on Higher Education | HEQSF - Higher Education Qualifications Sub-framework | |||
| QUALIFICATION TYPE | FIELD | SUBFIELD | ||
| Diploma (Min 360) | Field 03 - Business, Commerce and Management Studies | Finance, Economics and Accounting | ||
| ABET BAND | MINIMUM CREDITS | PRE-2009 NQF LEVEL | NQF LEVEL | QUAL CLASS |
| Undefined | 360 | Not Applicable | NQF Level 06 | Regular-Provider-ELOAC |
| REGISTRATION STATUS | SAQA DECISION NUMBER | REGISTRATION START DATE | REGISTRATION END DATE | |
| Reregistered | EXCO 0821/24 | 2019-10-01 | 2027-06-30 | |
| LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
| 2028-06-30 | 2033-06-30 | |||
| In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. |
This qualification does not replace any other qualification and is not replaced by any other qualification. |
| PURPOSE AND RATIONALE OF THE QUALIFICATION |
| Purpose:
The purpose of the qualification is to prepare learners for a successful and rewarding career in internal auditing. This qualification allows for vertical articulation into an Advanced Diploma in Internal Auditing and, where available, an Advanced Diploma in Financial Accounting or Financial Management. The completion of this qualification will also meet the minimum entry requirements for admission to a Bachelor's Degree. Accumulated credits may also be presented for admission and recognition into a related Bachelor's Degree programme. The Diploma leverages current accounting, governance and information management courses to build a strong multidisciplinary programme, thereby preparing learners for a career as a professional in the field of internal auditing. Upon completion of the Diploma, qualifying learners will be able to plan and execute basic internal audits and prepare basic audit reports by identifying appropriate procedures, tools and techniques for achieving the specific internal audit objectives. Qualifying learners will be able to recognise, discuss, analyse and explain financial statements from both a financial accounting and financial management point of view. They will also be able to explain the reporting standards, governance framework and legislative requirements underlying the financial statements. They will also be able to calculate amounts of income tax payable by individuals and a variety of business forms. The qualifying learners will also be able to identify and analyse a number of financial and non-financial key risks areas and make recommendations for the mitigation thereof. They will be able to identify internal control weaknesses and make recommendations for improving controls to ensure that errors and fraud are prevented and detected. Through application of appropriate computer assisted audit tools and techniques, acquired through the Work-Integrated learning (WIL) modules, they will be able express an opinion on the soundness of the system of internal controls. Rationale: The internal audit profession is a fast growing profession, not only globally, but also in South Africa. A host of corporate governance guidance or regulation documents (e.g. King Report on Governance), as well as legislation (e.g. Public Finance Management Act or PFMA and the Municipal Finance Management Act or MFMA) has, in the first place, made the establishment of an internal audit function either compulsory or advisable in organisations in both the private and the public sectors. In the second place, this guidance and legislation added significantly to establishing sound governance principles; with internal auditing seen as one of the cornerstones of a sound governance framework. In the third place, although this guidance and legislation have improved governance, it has also brought about stringent corporate governance responsibilities on organisations. Furthermore, external auditors often rely on the work of internal auditors providing that they are satisfied that internal audit engagements are conducted in compliance with international internal audit standards. Internal auditing can add much value to simplify the processes and also ensure that organisations adhere to the guidance and legislation. The internal audit function provides both assurance and advisory services to senior management and boards of organisations. In South Africa, the professional practice and education requirements of internal auditors are overseen by the Institute of Internal Auditors South Africa (IIA SA). The IIA-SA is affiliated with the IIA Global in the United States of America (US) and is one of the largest affiliate outside the US. With regard to internal audit education, the IIA Global has developed a curriculum for tertiary institutions and constantly accredits individual institutions on various levels. The curriculum of the IIA Global was developed after wide international consultation with universities and practising internal auditors. This formal, vocational qualification, being aligned to the curriculum of the IIA Global, allows qualifying learners entry to the professional examinations of the IIA Global. The development of this qualification is in line with government policies and provides professional career and learning pathways for learners to obtain access to higher education qualifications in internal auditing. |
| LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
| Recognition of Prior Learning (RPL):
The institution accepts RPL as an integral part of academic practice, and that all learning has value. To this end the institution will assess all applications for prior knowledge and award credits where they are due. In this way, the institution will achieve equity in its academic learning. The structure of this qualification makes the Recognition of Prior Learning possible. This qualification may therefore be achieved in part through the Recognition of Prior Learning, which includes formal, informal and non-formal learning and work experience. The learner will be thoroughly briefed on the mechanisms to be used and support and guidance will be provided. Entry Requirements: The minimum entry requirement for this qualification is: National Senior Certificate with an endorsement of a Bachelor's Degree, or an equivalent qualification on National Qualifications Framework (NQF) Level 4. |
| RECOGNISE PREVIOUS LEARNING? |
| Y |
| QUALIFICATION RULES |
| This qualification consists of the following compulsory modules at Levels 5 and 6 totalling 360 Credits.
Compulsory Modules, Level 5:120 Credits: Compulsory modules at Level 6, totalling 240 Credits: |
| EXIT LEVEL OUTCOMES |
| 1. Demonstrate an understanding of the professional standards and ethics of internal auditing, legal environment aspects, information systems environment, principles and concepts of risk and risk management and the functioning of the internal audit function within various sectors.
2. Demonstrate understanding of the financial management, financial accounting, taxation, operational activities and the laws and regulations of various sectors. 3. Demonstrate the ability to evaluate, select and apply internal audit engagement steps, audit programs and test procedures, audit tools and techniques in planning and conducting professional internal engagements to evaluate compliance laws and policies, and safeguarding of assets within various sectors. 4. Demonstrate the ability to accurately perform financial management activities, prepare and interpret financial statements, accurately performed for sole traders, and ethically calculate income taxation for partnerships and listed companies. 5. Demonstrate the ability to identify, analyse and mitigate financial and non-financial key risks areas and how to prevent and detect fraud and corruption risk areas by recommending appropriate controls for various sectors; examine the impact of the global business environment on risk. 6. Demonstrate understanding of the implications of decisions. and actions for organisations and ethics prescribed for the internal audit profession. 7. Demonstrate competence in computer literacy and information literacy to communicated effectively using appropriate present and communicate complex technology to internal audit stakeholders. 8. Demonstrate the ability to make decisions and act appropriately in applying between financial management, accounting, the relationships between financial taxation, and information systems operational activities, legislation, and identifying how actions, ideas or developments in these impact on internal audit engagements within various sectors. 9. Demonstrate the ability to evaluate learning and work performance, specific learning needs, team work, learning needs, team work, responsibility for responsibility for own actions and actions of others against given criteria. |
| ASSOCIATED ASSESSMENT CRITERIA |
| Associated Assessment Criteria for Exit Level Outcome 1:
Associated Assessment Criteria for Exit Level Outcome 2: Associated Assessment Criteria for Exit Level Outcome 3: Associated Assessment Criteria for Exit Level Outcome 4: Associated Assessment Criteria for Exit Level Outcome 5: Associated Assessment Criteria for Exit Level Outcome 6: Associated Assessment Criteria for Exit Level Outcome 7: Associated Assessment Criteria for Exit Level Outcome 8: Associated Assessment Criteria for Exit Level Outcome 9: Integrated Assessment: In order to achieve the stated exit outcomes, integrated assessment will take the form of various formative and summative assessments. The criteria stated in the table below will assess the extent to which learners can practice their competency in the field of internal auditing. It will measure the extent to which all learners have integrated the knowledge, skills and attitudes delivered to them as reflected in the exit outcomes. The assessments will avail opportunities for reflection on action in order to develop reflexive competencies. These integrated assessments will be conducted throughout the duration of the programme. In addition to these assessments, work integrated learning will be integrated as part of formative development in a simulated form. Formative Assessment: Summative Assessment: |
| INTERNATIONAL COMPARABILITY |
| The role and responsibility of internal auditors, as part of a sound governance framework in both private and public sector organisations, has expanded significantly over the past few decades. As an international recognised profession, the Institute of Internal Auditors (IIA), with its head office in the United States of America (USA) as well as various chapters and affiliates in almost all countries including South Africa, is responsible for guiding the profession. This also includes academic qualifications. The institution has a board sub-committee that has the responsibility to firstly ensure that all registered academic programmes are of a high standard and secondly, that a benchmark is set for all tertiary institutions to adhere to a minimum requirement or international best practice.
The Louisiana State University (USA) has both undergraduate and graduate courses but not comprehensive qualifications. Both the University of Texas (USA) and Erasmus University (Netherlands) has comprehensive Information Systems Auditing courses and programmes but focusing on a Master's level. No universities in developing countries or other Southern African Development Community (SADC) countries are listed on the Excellence Level. On the Comprehensive Level, the Nanjing Audit University (NAU) can be regarded as a university in a developing country, namely China, also being part of the BRICS countries with South Africa. NAU has both a comprehensive undergraduate programme and a graduate internal audit programme. The IIA has developed a Global Model Internal Audit Curriculum, applicable to all universities that present internal audit programmes. The IIA in South Africa (IIA-SA) has gone a step further and has developed a formal learnership with three exit levels, Internal Audit Technician (IAT), registered on National Qualifications Framework (NQF) Level 7, Professional Internal Auditor (PIA), registered on NQF Level 8, and Certified Internal Auditor (CIA), the latter being the global professional qualification. For the IAT and PIA the IIA-SA has developed training programmes. As the Diploma in Internal Auditing will be registered at a NQF Level 6, the international curriculum as well as the IAT (although on a higher NQF Level) will be compared to this qualification. In conclusion, the Diploma in Internal Auditing compares favourably with the UP programme, being a local but international accredited programme, as well as best practices by the IIA-SA, especially when considering that UP offers a degree programme and the IAT of the IIA-SA is accredited on NQF Level 7. When compared with universities in the USA and China, as well as global best practices, the Diploma is more comprehensive and outperforms the content of these programmes on the level that it is presented. Modules: Some of the modules fully addressed, but other are only partially addressed due. to being addressed in Advanced Diploma and Postgraduate Diploma. Country: China, NAU, Graduate Programme in Internal Audit. This qualification is similar to the qualification offered by the above country in terms of the following: Modules: The internal audit courses are only presented to third and fourth year learners (comparable to Advanced Diploma and Postgraduate Diploma level). In conclusion, when compared with universities in the USA and China, as well as global best practices, the Diploma is more comprehensive and outperforms the content of these programmes on the level that it is presented. |
| ARTICULATION OPTIONS |
| This qualification allows possibilities for both vertical and horizontal articulation.
Horizontal Articulation: Vertical Articulation: |
| MODERATION OPTIONS |
| N/A |
| CRITERIA FOR THE REGISTRATION OF ASSESSORS |
| N/A |
| NOTES |
| N/A |
| LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: |
| NONE |
| PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: |
| This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here. |
| 1. | Tshwane University of Technology (TUT) |
| All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |