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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Diploma in Internal Auditing 
SAQA QUAL ID QUALIFICATION TITLE
101431  Diploma in Internal Auditing 
ORIGINATOR
Durban University of Technology 
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  384  Not Applicable  NQF Level 06  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2033-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

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.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The purpose of this qualification is to equip learners with knowledge and skills that will enable them to operate effectively in internal auditing and prepare them to advance their career in this field. Qualified learners will be enabled to:
  • Recognise and integrate the function of the internal audit activity in the broader role of Enterprise Governance, the management of risk within an enterprise and the establishment of internal control systems in response to the level of risk within an enterprise.
  • Conduct an audit engagement in accordance with international standards on internal auditing.
  • Establish an ethical framework in accordance with the prevailing standards and good business practice around which the qualifying learner exercises their decision-making ability when faced with technical and other complexities in an internal audit engagement.
  • Have a global outlook on how the business world function and their role therein as an Internal Auditor.

    Rationale:
    The Diploma in Internal Audit is designed to provide learners with detailed knowledge and understanding of operations in the area of internal audit. The internal audit function is recognised internationally as an essential part of good corporate governance in organisations, entities and government departments. In South Africa, legislation requires the establishment of an internal audit function in every public sector entity. This qualification will help to provide the required number of graduates to be able to fulfil the internal audit role. They will also to develop the required competencies, such as, to plan, implement, manage and advise on internal audits.

    It should be noted that a 2010 study published by The Institute of Internal Auditors Research Foundation (IIARF) indicated that there is a future demand for skilled internal auditors from previously disadvantaged groups. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    RPL is in terms of the Institution's RPL policy. An applicant must have a minimum of five years related work experience and present a Portfolio of Evidence for admission and credits to certain modules.

    Entry Requirements:
    The minimum requirement for admission to this qualification is:
  • Senior Certificate (SC).
    Or
  • National Senior Certificate (NSC) granting access to Diploma studies.
    Or
  • National Certificate Vocational (NCV), Level 4, granting access to Diploma studies. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification comprises compulsory modules at Levels 5, 6 and 7 totalling 384 Credits.

    Level 5, 112 Credits.
  • Cornerstone 101, 12 Credits.
  • Financial Accounting 1 Module 1, 12 Credits.
  • Financial Accounting 1 Module 2, 12 Credits.
  • Internal Auditing 1 Module 1, 12 Credits.
  • Internal Auditing 1 Module 2, 12 Credits.
  • Business Calculations, 12 Credits.
  • Principles of Microeconomics, 12 Credits.
  • Principles to Macroeconomics, 12 Credits.
  • Values in the Workplace, 8 Credits.
  • World of Work, 8 Credits.

    Level 6, 200 Credits.
  • Entrepreneurial Edge, 8 Credits.
  • Business Fundamentals 1, 12 Credits.
  • Commercial Law 1, 12 Credits.
  • Business Fundamentals 2, 12 Credits.
  • Financial Accounting 2 Module 1, 12 Credits.
  • Financial Accounting 2 Module 2, 12 Credits.
  • Internal Auditing 2 Module 1, 12 Credits.
  • Internal Auditing 2 Module 2, 12 Credits.
  • Taxation 1, 12 Credits.
  • Commercial Law 2 Module 1, 12 Credits.
  • Commercial Law 2 Module 2, 12 Credits.
  • Managerial Accounting and Finance Module 1, 12 Credits.
  • Managerial Accounting and Finance Module 2, 12 Credits.
  • Entrepreneurial Spirit, 12 Credits.
  • Corporate Procedures, 12 Credits.
  • Business Informatics, 12 Credits.
  • Statistics, 12 Credits.

    Level 7, 72 Credits.
  • Financial Accounting 3 Module 1, 12 Credits.
  • Financial Accounting 3 Module 2, 12 Credits.
  • Internal Auditing 3 Module 1, 12 Credits.
  • Internal Auditing 3 Module 2, 12 Credits.
  • Taxation 2 Module 1, 12 Credits.
  • Taxation 2 Module 2, 12 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Audit manual and computerised business cycles, in accordance with International Standards of Internal Auditing.
    2. Prepare and interpret financial statements of companies and groups of companies in accordance with the prevailing Accounting Standards, including the valuation of interests represented by these statements.
    3. Record the accounting implications of changes within a company structure and investments.
    4. Determine the tax liability of individuals, assist with the tax liability of other legal entities and prepare submissions to the South African Revenue Services.
    5. Identify the economic environment within which South African commercial organisations apply their trade.
    6. Develop an administration system together with the business plan for a business. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Develop audit programs in accordance with current practice.
  • Perform manual and computerised compliance and substantive financial audit tests on various fields within the organisation.
  • Perform manual and computerised operational audit tests on various processes within the organisation.
  • Apply statistical sampling techniques in selecting data for audit tests.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Prepare financial statements for companies, disclosing all information required by the prevailing Accounting Standards.
  • Prepare consolidated financial statements for group companies.
  • Illustrate disclosure requirements in respect of changes in accounting policy, leases, instalment sales and earnings per share.
  • Determine, compare and interpret ratios of profitability, liquidity, financial structure and financial cover.
  • Determine the value of business interests by way of at least 3 valuation methods.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Prepare accounting entries and draft balance sheet reflecting the effect of liquidations, amalgamations and reconstructions.
  • Record investment transactions and clearly distinguish between capital from income.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Clearly identify taxable income and tax-deductible expenses.
  • Prepare annual tax returns for individuals and other bodies in accordance current taxation legislation.
  • Prepare provisional tax returns in accordance with current taxation legislation.
  • Clearly explain tax liability of the employer.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Clearly describe interaction between supply and demand within the market place.
  • Identify various market forms.
  • Describe and discuss monetary policy.
  • Describe and discuss fiscal policy.
  • Understand international trade and finance.

    Associated Assessment Criteria for Exit Level Outcome 6:
  • Compile effective internet mail and communication systems for the business.
  • Compile effective documentation systems for the activities of the business.
  • Select effective computer software system for the administration of a retail business.
  • Identify and determine viability of a business opportunity.
  • Compile workable business plan, with subsections clearly covering the functions of marketing, finance, administration, personnel, assets, logistics, production, public relations and housekeeping, for a retail business that will ensure the successful starting of such business.

    Integrated Assessment:
    Due to the nature of the discipline it is imperative that learners are trained in the theoretical knowledge of a subjected and assessed in the practical in the application thereof. In this regard the following assessment tools are utilised in the modules of this qualification:
  • Portfolios.
  • Simulations.
  • Written assignments.
  • Written tests.
  • Case studies and case presentations.
  • Face to face contact with learners. 
    		•

    INTERNATIONAL COMPARABILITY 
    The Internal Audit profession is governed by the Institute of Internal Auditors (IIA) an international professional body. The vision of the IIA is to be global voice of the internal audit profession, Advocating its value, promoting best practice, and providing exceptional service to its members.

    The countries with best practices in Internal Auditing are Canada, United States of America and the United Kingdom. The British commissioned the Cadbury Report in 1991, after a local corporate governance scandal involving Maxwell Communications. The Americans' introduced the Sarbanes-Oxley Act (2002), in response to the Enron and WorldCom scandals. These scandals highlighted the weaknesses in corporate governance at a global level.

    Several countries offer Internal Audit qualifications, including the University of Birmingham (Internal Audit Practice - IIA Diploma) in the United Kingdom (UK), Mount Royal University (Certified Internal Auditor Exam Preparation) in Canada and Northern Illinois University (Certified Internal Auditor Exam Preparation) in the United States of America (USA).

    The above institutions aligned their curriculum with that of the International Institute of Internal Auditors, which is recognised as standard setting body for the internal auditing profession. This was the base used in developing the Diploma in Internal Auditing syllabi, with strongly links to the requirements of the IIA. The Internal Auditing modules are regularly updated to ensure relevance locally and internationally.

    Conclusion:
    The Diploma in Internal Auditing compares well with the qualifications offered in Canada, United States of America and the United Kingdom as they are all aligned to the International Institute of Internal Auditors. 

    ARTICULATION OPTIONS 
    There are specific articulation qualification options at the institution. They are:

    Horizontal Articulation:
  • Diploma in Accountancy, Level 6.
  • Diploma in Management, Level 6.
  • Diploma in Taxation, Level 6.

    Vertical Articulation:
  • Advanced Diploma in Internal Auditing, Level 7.
  • Bachelor of Commerce: General, Level 7. 
    		•

    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. Durban University of Technology 


    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.