SAQA 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: 

Bachelor of Management Sciences in Internal Auditing 
SAQA QUAL ID QUALIFICATION TITLE
101959  Bachelor of Management Sciences in Internal Auditing 
ORIGINATOR
Central University of Technology, Free State 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
National First Degree(Min 480)  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  480  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   2034-06-30  

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 qualification is to provide the learner with the skills, competence, knowledge and understanding to become a professional Internal Auditor. This will enable them to perform services ranging from the more traditional assurance services (financial and compliance audits) to value-adding business advisory and assurance services (operational and strategic audits). Given the strong focus on skills in the qualification, learners will have to convert embedded knowledge practically into different software programmes relevant to professional Internal Auditors.

Contemporary Internal Auditors should have a comprehensive set of skills and competencies that enable them to cope with the extensive changes and complexities that characterise both private and public-sector operations. Internal Auditors should demonstrate expertise in many areas, including control evaluations, operational reviews and system analyses.

Rationale:
According to the National Skills Development Strategy III (NSDS), published by the Department of Higher Education and Training, the university sector is still not producing enough appropriately skilled and qualified people in disciplines central to social and economic development. A key objective of the NSDS is to increase public sector capacity for improved service delivery and supporting the building of a developmental state. To achieve the priorities of government with regard to, amongst others, reducing crime, will require a skilled and capable public service. Projects that are in alignment with the NSDS and support the new economic growth path are, amongst others, skills development for institutions dedicated to the fight against crime and corruption (which is also a key priority of government). Internal audit plays a key role in the prevention and detection of fraud and corruption, especially in the public sector.

According to the Organisation for Economic Co-operation and Development's (OECD) report on Higher Education in Regional and City Development for the Free State, South Africa 2012, education provision in the province is currently biased towards humanities and social sciences, while accounting remains an area of scarce skills. Skills upgrading, re-skilling and other forms of lifelong learning are becoming increasingly important in the Free State, and should be established as a matter of urgency. The report mentions that the supply of graduates is poorly aligned with provincial needs, particularly in the accounting sectors (amongst others). The report further mentions that sectors which have grown proportionally better in the Free State province in the past decade are trade, transport and financial services, which are sectors where internal auditors are largely employed.

The Provincial Growth and Development Strategy, Free State Vision 2030, indicate in Chapter 1 that an economic growth is needed to bring about development and to turn around unemployment and poverty. Professional Internal Auditors play a major role in fulfilling this need of economic growth. Chapter 2 of the aforementioned document that relates to declining quality of education, skills shortages and mismatches, reveals that the change in the economy towards finance and business services leaves the majority of the province's youth behind due to dissimilarity between the elementary skills and needs of the growing economy. The document also mentioned that, due to the lack of structured training and development programmes for staff and councillors on finance, economics and project management, have, in most cases, weakened governance mechanisms in many municipalities. Internal audit plays a key role in corporate governance.

The internal audit profession has grown significantly over the past few years. The growth is contributed to the string of corporate failures, and subsequent recommendations by the King Code on Corporate Governance in South Africa (King III) and legislation such as the Public Finance Management Act 1 of 1999 together with Municipal Finance Management Act 56 of 2003, that make it compulsory for all public entities, national and provincial government departments and local government entities in South Africa to have internal audit activities (Coetzee, du Bruyn, Fourie and Plant 2012). The growth of the internal audit profession has also come about as a result of the recommendations in the King III report (Fourie 2014). The introduction of the Public Finance Management Act (PMFA) (Act 1 of 1999) in 2000, with its focus on good governance and accountability (and which made internal auditing compulsory in the public sector), meant that internal auditing became a formal part of the financial management process in the South African public sector. This coincided with increased recognition of the value of internal auditing internationally, as well as an expansion of internal auditing's role, from what had been essentially an accounting-orientated service, to a much broader, management-orientated service - a true governance partner. Internal auditing in national departments has the potential to add substantial value and to make a meaningful contribution in respect of governance.

Attempts to meet the demand for competent Internal Auditors are compounded by the need to consider both the knowledge and the skills required in internal auditing, as well as the ability to apply internal audit knowledge and skills in various industries; thus the need is created for internal auditors to possess a greater range of skills, attributes and competencies. The continuously expanded role of the internal auditor still leads to a skills gap and there still is a need for more skilled Internal Auditors. The greater majority of internal audit employees hold relatively low academic qualifications, and very few are in possession of professional qualifications. In South African public-listed companies there is a demand for highly skilled Internal Auditors, especially female internal auditors from previously disadvantaged groups.

The internal audit profession in South Africa is growing and its business is becoming increasingly complex. At the same time, the industry is experiencing a severe shortage of appropriately qualified Internal Auditors at all levels. This poses a serious threat to the growth of the economy, especially as the demand for internal audit staff extends to all sectors and all sizes and types of organisations. Government, multinationals, small and medium enterprises - organisations of every size - depend upon adequate and effective governance, risk management and internal controls. Professional Internal Auditors work in all sectors of the economy, and provide essential support, assisting senior management and governing boards to focus on strategic level work and dispensing information that is critical to accurate decision-making.

This qualification enables learners to develop work-relevant competence, as an aid to employment and career progression. The qualification also allows learners access to lifelong professional development and support, through the opportunity to take up full membership with the IIA (SA), as the foremost institute for Internal Auditors in South Africa.

The qualification will benefit the South African economy by ensuring that the people responsible for professional internal auditors' work are skilled and competent. This is essential for organisational success in every sector of the economy, from the public sector to private practice, to industry and commerce. Potential employers will benefit as they will have developed confidence in the ability of trained staff and can recruit or promote professional Internal Auditors, knowing that they have proved ability to perform the work required. The qualification will offer learners the opportunity to study a prestigious nationally and internationally recognised internal auditing qualification. The qualification is a planned combination of learning outcomes with a defined purpose that culminates in applied competence and serves as the academic requirements for becoming a professional internal auditor; practicing in commerce, industry, academia and the public sector.

Professional Internal Auditors work at all levels within an internal audit activity and are able to offer access to a wide range of high quality, tailor-made professional services that go beyond their core areas of expertise. Professional Internal Auditors can also work in operational positions within organisations, e.g. finance, managerial, accounting, etc.

The qualification benefits employers as they can have confidence in the ability of trained staff and can recruit or promote Internal Auditors, knowing that they have proved ability to perform the work required. The qualification will also be aligned with the IIA (SA), as a professional qualification is a necessity in the internal audit profession.

Given the growth of corporate governance awareness and risk management, the demand for qualified Internal Auditors keeps increasing. The curriculum of the qualification has been adapted to adhere to the modern Internal Auditing needs from the labour market and the IIA (SA) such as: organisational governance, ethics, fraud, risk management and information systems auditing. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Recognition of Prior Learning (RPL):
RPL applications are submitted to the unit for Assessment and Graduations. Candidates are required to complete an RPL application document. Accompanying the RPL application must be certified copies of all previous qualifications and a comprehensive portfolio of evidence, reflecting on extensive prior learning and experience. Once the institution's RPL coordinator has deemed the RPL application as being complete, the application will be sent to the Faculty of Management Sciences for assessment. The RPL Committee of the Department of Accounting and Auditing assesses the candidate's application thoroughly against the relevant learning outcomes and upon consensus makes a recommendation to the Head of Department. Such recommendation is returned to the unit for Assessment and Graduations for further procedural actions. The University makes provision for the recognition of prior learning for students who passed subjects at other universities and students who gained prior experience in the industry.

It is the policy of the University to facilitate access to public higher education, especially to persons who were previously disadvantaged in terms of access to public higher education, by recognising prior learning achievements of individuals, irrespective of how their learning achievements were acquired. Towards this commitment the institution records that its policy aim is to accredit and to give due recognition to prior learning achievements in determining access.

It is the policy that aspirant students, who wishes to become students of the learning programme through RPL, must present themselves together with credible evidence of learning achievements.

It is also the aim to ensure that both the RPL process and outcomes, as an assessment procedure, be guided by the salient aspects of Quality Assurance. A critical pre-requisite for maintaining acceptable procedures would be the following:
  • Prior learning assessments can only be made against clearly formulated learning outcomes and modules prescribed by the curriculum for this qualification.

    Provision is made to achieve the qualification in part or as a whole through the recognition of prior learning.

    Selection of Recognition of Prior Learning (RPL) learners will be conducted on an individual basis in accordance with the RPL policy of the University.

    RPL applications for the institution are received by the Centre for Assessments and Graduations. If the application refers to the admission into the qualification, the candidate is required to complete a RPL application document. Accompanying the RPL application must be certified copies of all previous qualifications and a comprehensive portfolio of evidence, reflecting on extensive work and/or learning. Once the institution's RPL coordinator has deemed the RPL application as being complete, the portfolio will be sent to the Faculty of Management Sciences for assessment. The faculty's RPL committee assesses the candidate's portfolio thoroughly against the relevant learning outcomes.

    This qualification may be achieved in part through the recognition of relevant prior learning and/or experience. Providers are required to develop structured and accredited means of the assessment of learners against Exit Level Outcomes of the qualification on an individual basis and in accordance with the institutions' accredited RPL policy. Such procedures and the assessment of individual cases are subject to moderation by independent assessors. The RPL policy outlines that the holder of a university qualification certificate must have:
  • Complied with the admission requirements for the qualification, including the admission requirements of the courses/module prescribed for the qualification.
  • Been assessed and found competent in all the competences and skills prescribed for the qualification.

    Entry Requirements:
  • Senior Certificate with endorsement.
    Or
  • National Senior Certificate granting access to Bachelor's Degree studies and with Accounting Mathematics or Mathematical Literacy.
    Or
  • National Certificate (Vocational) at Level 4 granting access to Bachelor's Degree studies and with Accounting Mathematics or Mathematical Literacy. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of compulsory modules at Levels 5, 6, 7 and 8 and elective modules at Level 8, totalling 504 Credits.

    Compulsory Modules at Level 5: 130 Credits:
  • Academic Literacy and Communication Studies, 12 Credits.
  • Numeracy, 6 Credits.
  • Digital Literacy, 6 Credits.
  • Advanced Computer Literacy, 6 Credits.
  • Financial Accounting I, 32 Credits.
  • Professional Skills Development, 8 Credits.
  • Economics I, 16 Credits.
  • Business Management, 8 Credits.
  • Taxation I, 12 Credits.
  • Professional Skills Development, 8 Credits.
  • Business law I, 16 Credits.

    Compulsory Modules at Level 6: 107 Credits:
  • Financial Accounting II, 32 Credits.
  • Cost and Financial Management I, 25 Credits.
  • Taxation II, 25 Credits.
  • Auditing and Internal Control II, 25 Credits.

    Compulsory Modules at Level 7: 134 Credits:
  • Business and Strategic Management, 24 Credits.
  • Cost and Financial Management II, 25 Credits.
  • Internal Auditing III, 25 Credits.
  • Information Systems Auditing III, 12 Credits.
  • Research methodology I, 16 Credits.
  • Financial Accounting III, 32 Credits.

    Compulsory Modules at Level 8: 122 Credits:
  • Research methodology II, 16 Credits.
  • Internal Auditing IV, 12 Credits.
  • Risk Management IV, 12 Credits.
  • Information Systems Auditing IV, 12 Credits.
  • WIL (simulation), 30 Credits.
  • WIL (placement), 40 Credits.

    Elective Modules at Level 8: 12 Credits (Choose one module):
  • Public Financial and Procurement Management III, 12 Credits.
  • Specialised Information Systems Auditing, 12 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Conduct a preliminary survey for an engagement during the planning stage.
    2. Identify the risks pertaining to the engagement client during the planning stage.
    3. Determine the engagement objectives, criteria (internal control activities) and scope during the planning stage.
    4. Prepare the engagement work programme during the planning stage.
    5. Perform the engagement during the fieldwork stage.
    6. Use various tools and techniques available in planning and performing engagements.
    7. Plan and perform compliance, financial and operational/performance engagements in manual and computerised environments at any business activity/process/division.
    8. Effectively communicate engagement results to clients through the development, formulation and selling of corrective actions on improving business operations.
    9. Use Computer Assisted Audit Techniques (CAAT's), including data analysis software and electronic working papers software, in performing engagements.
    10. Apply policies, procedures and techniques to effectively manage an internal audit activity.
    11. Perform various other specialised audits.
    12. Perform all the exit level outcomes mentioned above according to the International Professional Practices Framework (IPPF) of the Institute of Internal Auditors Global (IIA Global). 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Understand the concept of auditing and explain the motivation for performing an internal audit engagement in an organisation.
  • Identify and describe the stages of the internal audit process are identified and described.
  • Understand and apply the preliminary survey step of an internal audit engagement.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Understand the logical flow of the audit methodology.
  • Understand and apply the risk-based audit approach the Internal Auditor can follow when performing an internal audit engagement.
  • Understand and identify organisational risk.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Formulate engagement objectives for an internal audit engagement.
  • Understand and explain the purpose, components, advantages and limitations of internal control.
  • Understand and explain the responsibilities of the different role-players regarding internal control.
  • Identify and evaluate engagement criteria (internal control activities) for an internal audit engagement.
  • Determine engagement scope for an internal audit engagement.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Formulate engagement procedures for an internal audit engagement.
  • Design the engagement work programme.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Understand and explain the process and purpose of fieldwork.
  • Identify, analyse and evaluate engagement information (evidence).
  • Apply engagement procedures.
  • Document engagement information adequately.

    Associated Assessment Criteria for Exit Level Outcome 6:
  • Understand, explain and apply the following internal audit tools and techniques:
    > Walk-through tests.
    > Interviews and enquiries.
    > Internal control questionnaires.
    > System descriptions.
    > Flow-chart techniques.
    > Control matrices.
    > Analytical procedures.
    > Sampling.

    Associated Assessment Criteria for Exit Level Outcome 7:
  • Understand and explain the different types of internal audit engagements.
  • Understand and explain the main terms and concepts associated with an information technology environment.
  • Understand and explain the auditing approaches in an information technology environment.
  • Understand and explain the effect of an information technology environment on the system of internal control.
  • Understand and evaluate the general and application controls in an information technology environment.
  • Understand and explain electronic data interchange, electronic funds transfer, e-commerce, ERP systems, databases and information technology governance.
  • Understand, explain, identify and evaluate organisational objectives, main functions and activities, risks and internal control activities in order to plan and perform compliance-and financial engagements within the following specific business cycles:
    > Revenue and Receipts Cycle.
    > Purchases and Payments Cycle.
    > Inventories, Production and Warehousing Cycle.
    > Human Resources and Payroll Cycle.
  • Understand and explain the principles and elements of operational/performance engagements.
  • Understand and explain the operational/performance engagement processes within any relevant business activity/process/division in an organisation (including the public sector).

    Associated Assessment Criteria for Exit Level Outcome 8:
  • Understand and explain the purpose and different methods of communicating engagement results.
  • Understand and explain the format and content of internal audit engagement reports.
  • Prepare detailed findings based on the results of internal audit engagements.
  • Prepare a draft internal audit engagement report.
  • Understand and explain the distribution and impact of internal audit engagement reports.
  • Understand, evaluate and apply the follow-up process and monitoring of engagement results.
  • Understand, explain and apply effective soft skills required of Internal Auditors in their interaction with clients.

    Associated Assessment Criteria for Exit Level Outcome 9:
  • Understand and explain the concept of Computer Assisted Audit Techniques (CAAT's).
  • Understand and explain the difference between the auditing of programmes and data files.
  • Understand and apply the general approaches to the auditing of programmes and data files.
  • Understand and apply the use of specific data analysis software and electronic working papers software are understood and applied.

    Associated Assessment Criteria for Exit Level Outcome 10:
  • Understand and explain the role of the chief audit executive with regard to the management of an internal audit activity.
  • Understand, explain and evaluate the different structures of an internal audit activity.
  • Understand, explain, evaluate and apply the following aspects of the management of an internal audit activity:
    > Internal audit charter.
    > Policies and procedures required for an effective internal audit activity.
    > Strategic-and annual audit plans.
    > Quality assurance and improvement programme.
    > Effective resourcing of the internal audit activity.
    > Benchmarking.
  • Understand and explain the internal audit's interaction with key role players in corporate governance namely executive management, governing boards, audit committees and external assurance providers.
  • Understand and explain the different roles and responsibilities of executive management, governing boards, audit committees and external assurance providers.

    Associated Assessment Criteria for Exit Level Outcome 11:
  • Understood, explain, plan and perform the following specialised audit areas are:
    > Corporate Governance.
    > Organisational ethics.
    > Fraud.
    > Sustainability assurance.
    > Enterprise risk management and control self-assessment.
    > Treasury auditing.
    > Contract auditing.
    > Consulting engagements.

    Associated Assessment Criteria for Exit Level Outcome 12:
  • Understand, explain and apply the following elements of the International Professional Practices Framework (IPPF) when performing Exit Level Outcomes 1 to 11:
    > Mission of Internal Audit (mandatory guidance).
    > Core Principles for the Professional Practice of Internal Auditing (mandatory guidance).
    > Definition of Internal Auditing (mandatory guidance).
    > Code of Ethics (mandatory guidance).
    > The Standards (mandatory guidance) and Implementation Guides (recommended guidance). Supplemental Guidance (recommended guidance).

    Integrated Assessment:
    Integrated assessment takes the form of an appropriate variety of assessment methods, for example: written and oral examinations; problem-solving assignments; projects; presentations; case studies; portfolios; visual diaries; journals; field work and the assessment of competence through simulated and actual work integrated learning. Assessment is used to generate data for grading, ranking, selecting and predicting, and to provide timely feedback to inform teaching and learning and to improve the curriculum.

    A comprehensive range of assessment criteria are utilised to determine learner achievement. Assessment takes place according to a detailed memorandum or rubric supplied by the examiner, ensuring reliability, consistency and accuracy of results. This variety of assessment methods helps to increase assessment opportunities and encourage academic success of the learners. It also provides the opportunity for all learners to excel in one or more methods of assessment creating a culture of success. Continuity and alignment are encouraged across the different modules which include the integration of principles into Internal Auditing. These practices ensure reliability and validity in assessment.

    The qualification will be awarded to a learner who has provided evidence to the satisfaction of the assessors that the qualification, as stated in the Exit Level Outcomes, has been achieved, either through education and training within the qualification or though experience that complies with the stated RPL policy. 
    		•

    INTERNATIONAL COMPARABILITY 
    The internal auditing profession is a global profession and is governed by the Institute of Internal Auditors Global (IIA Global). Therefore, all the Exit Level Outcomes of the qualification comply with the following criteria issued by IIA Global:
  • International Professional Practices Framework (IPPF).
  • The Global Model Internal Audit Curriculum.
  • The syllabus of the international Certified Internal Auditor (CIA) designation.

    The Institute of Internal Auditors South Africa (IIA SA) is affiliated to IIA Global. The IIA (SA) provides an array of products and services, which include on-going training to facilitate the necessary knowledge, competence and functional skills members need to effectively execute their responsibilities in a manner that complies with local and international regulatory frameworks and standards. Membership provides internal audit professionals with local and international recognition, ensures that they remain abreast of the latest local and international developments in the internal audit profession and are able to regularly network with fellow internal audit professionals. Membership is reserved for persons who have complied with the academic, practical and professional evaluation requirements laid down by the institute. This qualification will offer learners the opportunity to study a prestigious nationally and internationally recognised internal auditing qualification.

    A formal accreditation process, to be recognised as an Internal Audit Education Partnership (IAEP) institution, will be filed with IIA Global as soon as approval has been granted to offer this qualification.

    The following international qualifications were found to be comparable with this qualification:
  • Bachelor of Commerce Honours Degree offered at the Great Zimbabwe University in Zimbabwe.
  • Bachelor of Accounting and Financial Management (BAFM) [with Internal Auditing as elective] offered at the University of Waterloo in Ontario, Canada.

    The similarity of the modules particularly with regards to the Great Zimbabwe University provides an opportunity for students who have begun studying at these universities to continue their studies at the University. This will be subject to the Credit Accumulation and Transfer (CAT) process whereby a learner's achievements are recognised and contribute to further learning even if the learner has not achieved a qualification. In terms of the CAT scheme, any and all credits for an incomplete qualification may be recognised by the same or a different institution as meeting part of the requirements for a different qualification, or may be recognised by a different institution as meeting part of the requirements for the same qualification. 
    		•

    ARTICULATION OPTIONS 
    This qualification offers articulation possibilities with the following qualification:

    Horizontal Articulation:
  • Bachelor of Management Sciences in Accountancy, Level 8.

    Vertical Articulation:
  • A relevant Master's Degree, Level 9. 
    		•

    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. Central University of Technology, Free State 


    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.