SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Postgraduate Diploma in Internal Auditing

SAQA QUAL ID	QUALIFICATION TITLE
101704	Postgraduate Diploma in Internal Auditing
ORIGINATOR
Monash South Africa
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
CHE - Council on Higher Education			HEQSF - Higher Education Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Postgraduate Diploma	Field 03 - Business, Commerce and Management Studies		Finance, Economics and Accounting
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	120	Not Applicable	NQF Level 08	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Reregistered		EXCO 0821/24	2021-07-01	2027-06-30
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2028-06-30		2031-06-30

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 this Postgraduate Diploma in Internal Auditing is to provide graduates with valuable skills to monitor and govern processes in the business environment. Those valuable skills and expertise include risk-based internal auditing, ethics, governance, information technology, internal auditing standards, the internal audit engagement, risk management, consulting, fraud and forensics and business specific communication skills. The combination between a solid theoretical grounding and a focus on critical application would allow graduates to contribute towards the economic and business environment both locally and internationally. The involvement of the Institute of Internal Auditors (IIA) adds an international focus to the qualification that might result in stronger relationships being built between South Africa and other countries.

While equipping learners with sound theoretical knowledge and practical skills in the field of Internal auditing, this qualification is concerned with the inculcation of values around ethics, morality and responsible conduct in the world of work and in society in general.

Rationale:
Every business and public sector entity needs competent auditing professionals to form part of an internal auditing department; assisting the board of directors (or council) and its audit committee to ensure proper and adequate corporate governance and internal financial, performance and other controls. The existing skills shortage is exacerbated by the large internal audit outsourcing services provided by large audit firms. The lack of auditing professionals is widely publicised, and could only be addressed by educating future internal auditing professionals.

This qualification strives to deliver competent graduates to the market, who can assist in addressing the current skill shortage on a national as well as international level. The qualification will equip learners to render a professional internal auditing service to various role players, including private companies, public companies, government and auditing or consultation firms. The qualification will also aid professionals already employed in the finance and business environment to enhance their skills in terms of internal auditing, Information Technology (IT) governance and auditing, counteracting of fraud, business strategy, performance management and risk management.

The qualification will thus be a value-add for young graduates at the beginning of their careers in auditing, as well as for internal auditing professionals already working in the industry or in government departments. The benefit of this qualification to graduates would be that they would be able to apply for exemptions from the Institute of Internal Auditors (IIA) for certain of the subjects, which would reduce the study period towards a professional qualification. The relevant module outcomes of the qualification are aligned with the IIA's global Model Internal Audit Curriculum and the IIA's Competency Framework.

The Postgraduate Diploma in Internal Auditing is focused not only on recently Qualified Internal Auditors, but is also practical and would be ideal for Internal Auditors in commerce and public sector to obtain a higher level qualification. It may also serve as a refresher course for more senior internal audit staff. Internal audit seniors and the Chief Audit Executive (CAE), or those aspiring for these positions, should particularly find value in this qualification. The intended target of this qualification is also for working professionals with various levels of managerial responsibility in South Africa and the rest of the continent.

The qualification is a learning pathway for working professionals in possession of a Bachelor Degree or equivalent qualification registered on Level 7 on the National Qualifications Framework Learners who successfully complete the qualification might be eligible for acceptance into Master Degree study (Level 9) in South Africa or elsewhere.

This qualification helps in the achievement of the objectives of the National Qualifications Framework (NQF) by facilitating access to quality education, training and career paths. It also contributes to the personal development of learners and the social and economic development of the nation.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
The institution adheres to national requirements for the Recognition of Prior Learning (RPL) and has an RPL policy and procedures in place. In this context, the learning institution will allow for an educationally appropriate alternative access to the qualification. In so doing, it will recognise the following fundamentals:

Formal learning, such as a course offered by a professional body, enterprise, private educational institution, or by any other accredited provider recognised by Monash South Africa. These may include professional development or on-the job-training.

Experience of approximately three to five years working within the industry will be considered in conjunction with the academic record of the candidate based on the institutional policy of Recognition of Prior Learning.

RPL may also be granted for admission to the qualification, where an applicant's previous non-accredited formal study or informal learning is assessed as equivalent to the prerequisite qualification.

Credit for subjects (modules) passed will be credited, with satisfactory grades, at other recognised higher education institutions if:

The subject is considered to be equivalent in content and standard.

It is relevant to the planned course/programme of study.
Applications will be considered on a case-by-case basis.

Entry Requirements:

A relevant Bachelor's Degree, Level 7.
Or

A relevant Advanced Diploma, Level 7.
Or

Any other relevant qualification, Level 7.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of compulsory modules at Level 8 totalling 120 Credits.
Compulsory Modules:

Internal audit essentials, 15 Credits.

Ethics and governance, 15 Credits.

Risk-based internal auditing, 15 Credits.

Management and consulting, 15 Credits.

Assurance engagement and standards, 15 Credits.

Information Technology (IT) auditing, 15 Credits.

Fraud and Forensics, 15 Credits.

Business Communication Skills for Internal Auditors, 15 Credits.

EXIT LEVEL OUTCOMES

1. Conduct an internal audit of a business or institution, rendering a professional service.
2. Write a meaningful report on an internal audit or related project.
3. Solve complex problems while functioning efficiently as part of a group or team.
4. Identify and address ethical issues within a given scenario.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Apply the required technical knowledge to a case study.

Evaluate selected technical aspects.

Plan and conduct an internal audit.

Report to the board of directors (or council).

Associated Assessment Criteria for Exit Level Outcome 2:

Research an internal audit problem.

Identify critical information relevant to solving an internal audit related problem.

Advise different role players on the way forward.

Compile a well-constituted report addressed to relevant role players.

Associated Assessment Criteria for Exit Level Outcome 3:

Analyse and evaluate a technical problem (group/ team assignment).

Present the recommendations verbally to relevant role players.

Present the applicable technical aspects in written form.

Associated Assessment Criteria for Exit Level Outcome 4:

Elaborate on the concepts of due professional care, independence, professional judgement, business integrity and cultural sensitivity.

Identify an ethical dilemma in a case study by applying the code of ethics as well as other ethical norms.

Discuss and recommend the correct handling of the ethical dilemma - motivate the judgement and decisions taken.

Integrated Assessment:
The Postgraduate Diploma in Internal Auditing recognises the importance of integrating learning and assessment, as well as that of integrated assessment of theoretical and practical components. Constant formative assessment and feedback on assessment activities such as case study analyses, group work, reflective journals, simulations and written assignments ensure that this goal is reached. Feedback is provided on academic development and the attainment of the learning outcomes.

The summative assessment task in the form of an integrated project in each module allows the lecturer (and external examiner) to effectively assess each learner's academic development with regards to attaining the overall Exit-Level Outcomes of the qualification.

INTERNATIONAL COMPARABILITY

The qualification was developed by following, in essence, the syllabus of the Institute of Internal Auditors (IIA) global model internal audit curriculum. The IIA is a professional body based in Altamonte Springs, Florida, that updates its syllabus and Competency Framework in cycles after benchmarking against other professional bodies and consultation with various key role players. The IIA is seen as the leading professional body for Internal Auditors. The IIA is the internal audit profession's global voice, recognised authority, acknowledged leader, chief advocate, and principal educator. Generally, members work in internal auditing, risk management, governance, internal control, information technology audit, education, and security. Graduates who have completed the qualification would be able to obtain access to the IIA examinations.

The global model internal audit curriculum of the IIA, situated in the United States of America (USA), advises on courses that could be structured to prepare learners for the Certified Internal Auditor (CIA) examination. It contains a list of 11 course titles, and each is then set out in detail with the following headings: Degree Level; Course description; Sample overall learning objectives; general topics in that course; and content recommendations. They are all recommended for Postgraduate studies.

These recommendations have been re-mixed into the eight units of this qualification. The following topics from the IIA recommendations are covered:

Principles of Internal Auditing.

Ethics and Organisational Governance.

Fraud and Forensics.

Information Technology (IT).

Auditing.

Business Communication Skills for Internal Auditors.

Advanced Internal Auditing.

Developing and Managing an Internal Audit Function.

Risk Management.

Advanced Organisational Governance.

Advanced IT Systems and Auditing.

Internal Auditing Topics.

The approach in this qualification is to have a one-year qualification that should further practitioners' and professionals' careers and also enable them to write the IIA examinations.

There is no directly comparable Degree or Diplomas outside South Africa. The closest is the Graduate Certificate in Internal Auditing (GradCertIA), offered by the IIA Australia. The duration is also one year. Its approach is to allow learners to become qualified GradCertIA's or to achieve global certification such as CIA. It consists of four modules, and the contents of each cover the same contents as per this qualification in internal auditing:

Risk Based Auditing.

Legal and Regulatory Framework.

Organisational Systems and Processes.

ARTICULATION OPTIONS

This qualification offers systemic articulation possibilities with the following qualifications offered at other institutions provided the learner meets the minimum admission requirements.

Horizontal Articulation:

Postgraduate Diploma in a related field, Level 8.

Vertical Articulation:

Master's Degree in a related field, Level 9.

MODERATION OPTIONS

N/A

CRITERIA FOR THE REGISTRATION OF ASSESSORS

N/A

NOTES

The accreditation of this qualification was transferred from Monash SA to the Independent Institute of Education (IIE) in November 2018.

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.

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