SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Advanced Diploma in Internal Auditing

SAQA QUAL ID	QUALIFICATION TITLE
117911	Advanced Diploma in Internal Auditing
ORIGINATOR
Cape Peninsula University of Technology
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
-			HEQSF - Higher Education Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Advanced 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 07	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Reregistered		EXCO 0821/24	2020-11-20	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 the Advanced Diploma in Internal Auditing is to equip learners with the knowledge, skills, attributes and ethical consciousness to function optimally and become a competent internal auditor, in line with the professional standards set out by the Institute of Internal Auditors (IIA). Internal auditors are needed in both the private and public sectors. To execute their duties effectively, offering independent and objective judgement and advice to management, boards and audit committees, internal auditors must be appropriately qualified. The Advanced Diploma in Internal Auditing will thus bridge the gap in knowledge of aspiring internal auditors. This will be achieved by building on the work-readiness practical exposure that would have been acquired by the learners in the third year of study, by adding specialised theoretical knowledge and conceptual depth using a practical approach in teaching the content of the proposed qualification.

Internal auditors need to have a broad knowledge base and need to be proficient in all basic accounting-related principles to provide effective assurance and consulting services to an organisation. The qualification design of the Advanced Diploma in Internal Auditing will equip learners not only in Internal Auditing but also with expertise in all areas of the business, including Accounting, Information Systems, Information Technology, Management Accounting and Strategic Management, as their role is important for informing all functions of the organisation and different levels of management. The competencies developed include the ability to identify, analyse, synthesize and critically reflect on and address complex familiar and unfamiliar problems in the identified functional areas, applying evidence-based solutions and theory-driven arguments in internal auditing.

In addition to the institutional graduate attributes, the qualifying learners will be able to:

Demonstrate the competencies necessary to perform professionally and ethically in an entry-level internal auditing position.

Perform computer-based internal audits and auditing of information systems.

Solve analytical problems related to the improvement of financial, control or operational systems within an organisation.

Demonstrate advanced communication and management skills to effectively manage the internal audit function itself as well as stakeholder relations.

Rationale:
Within the current global and national climate of fraud, corruption, state capture, tenderpreneurship, wasteful and irregular expenditure and the requirements for compliance with the King Code, there is an increased focus on corporate governance and risk management. It is here where the role of the internal auditor is becoming increasingly critical from governance, ethical leadership, attitude, mindset and behavioural perspective. This has led to a dramatic growth of the internal auditing field resulting in an exponential increase in the number of positions available in the field. Consequently, there is an acute shortage of internal auditors.

Regarding the top 10 scarce skills in demand in SA, out of 1528 vacant positions, 35% were auditing related (external and internal). Furthermore, the role of an Internal Audit Manager was identified in two categories: one of the managerial occupations and one of the professional occupations in which employers experienced shortages. The shortage of qualified internal auditors in the public sector is generally worse off than the private sector.

There is also a need for internal auditors with skills sets that include data mining, data analytics and the ability to respond quickly and provide feedback quickly on disruptive events. However, despite the impacts of global and technological changes in business, many companies' internal audit skill sets have not evolved. Skill sets required relate in particular to specialised IT skills such as cyber-security, cloud services, mobile computing and enterprise resource planning. Therefore, the above-mentioned presents an opportunity for the conceptualization and development of a proposed Advanced Diploma in Internal Auditing that can address the direly needed skills set.

The competitive edge that this new qualification will offer is that it will enable learners to specialise in internal auditing, whilst meeting the requirements of the professional body, making this a practice-based qualification. The Advanced Diploma in Internal Auditing will develop increased capacity not only in traditional internal audit functions but also will provide an increased focus on information technology (IT) in response to industry and professional body-informed needs. This will not only meet the demands of theoretical engagement, but also the practical and technical expertise that is currently lacking amongst existing internal auditors. This will allow for the integration of theoretical and computerised auditing techniques, equipping learners with the underpinning knowledge to progress to Postgraduate level.

The qualification will also offer an opportunity for accreditation with a professional body by providing the educational component required by the Institute of Internal Auditors (IIA).

This qualification will replace the non-HEQSF-aligned Bachelor of Technology Degree in Internal Auditing at the institution.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
Learners who do not meet the minimum admission requirements may apply for Recognition of Prior Learning (RPL). RPL will be according to the institution's policy and includes a specified curriculum vitae, testimonials and certified copies of any education and/or training certificates.

RPL may have two modes, namely:

Credits in place of prior qualifications provided the new qualification is equivalent both in terms of learning content and NQF Level.

Where substantial learning as a result of meaningful workplace (informal and non-formal) experience has been attained. Such learners can present themselves for assessment of prior learning (APL) for admission to the qualification.

Entry Requirements:
The minimum entry requirement for this qualification is:

An appropriate Diploma at NQF Level 6.
Or

A National Diploma in Internal Auditing at NQF Level 6.
Or

An equivalent qualification at NQF Level 6.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification consists of the following compulsory modules at National Qualifications Framework Level 7 totalling 120 Credits.

Compulsory Modules, Level 7, 120 Credits:

General Financial Reporting, 18 Credits.

Financial Management, 18 Credits.

Accounting Information Systems, 18 Credits.

Management, 24 Credits.

Internal Auditing, 24 Credits.

Information Systems Auditing, 18 Credits.

EXIT LEVEL OUTCOMES

1. Demonstrate the competencies necessary to perform professionally and ethically in an entry-level internal auditing position.
2. Perform computer-based internal audits and auditing of information systems.
3. Solve analytical problems related to the improvement of financial, control or operational systems within an organisation.
4. Demonstrate advanced communication and management skills to effectively manage the internal audit function itself as well as stakeholder relations.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Critically analyse and evaluate compliance with corporate governance structures and codes (including King IV) to develop recommendations to enhance governance compliance in familiar and unfamiliar governance scenarios.

Critically analyse management's enterprise risk management processes, frameworks and internal controls for alignment to the applicable Committee of Sponsoring Organisations (COSO) frameworks (internal control and enterprise risk management frameworks respectively).

Formulate appropriate recommendations to improve the levels of risk management practices and internal control.

Professionally plan, perform and communicate results of internal audit engagements (including consulting services) by applying the International Standards for the Professional Practice of Internal Auditing (ISPPIA) and Code of Ethics.

Associated Assessment Criteria for Exit Level Outcome 2:

Appropriately review and analyse an existing IT strategy to assess alignment to the corporate strategy and make appropriate recommendations to enhance alignment for familiar and unfamiliar scenarios.

Analyse, evaluate and make recommendations familiar and unfamiliar scenarios of an IT governance setting appropriately based on the Control Objectives for Business Information and Related Technologies (COBIT) framework.

Critically analyse, evaluate and make recommendations for a given IT enterprise-wide scenario in familiar and unfamiliar settings, concerning IT security, contingency planning and business continuity planning, general IT and application controls.

Critically examine an IT environment, in familiar and unfamiliar scenarios, by applying the integrated knowledge and understanding of Accounting Information Systems, Information Systems Auditing, Information Systems/Information Technology to select the most appropriate audit strategy and approach.

Apply the use of computer-assisted tools and techniques, including data analytics, to assess IT-related risk and controls continuously.

Appropriately apply the principles of IT auditing and perform basic IT audits through the use of Computer Assisted Audit Techniques (CAATS).

Associated Assessment Criteria for Exit Level Outcome 3:

Critically analyse, appropriately evaluate and provide insight into financial data and effectively perform financial audits by applying knowledge and skills related to Financial Reporting.

Critically review, analyse and make appropriate recommendations of management policies and decisions related to investment, capital budgeting, risk and return, valuations, working capital and other business decisions by applying advanced knowledge and understanding of Financial Management to make recommendations to enhance stakeholder wealth.

Appropriately apply financial management principles to generate and effectively provide input to manage shareholder wealth, including but not limited to investment management, return analysis, valuations and capital budgeting.

Associated Assessment Criteria for Exit Level Outcome 4:

Appropriately apply general management practices, including strategic management processes, operations management, marketing, HR practices and management and stakeholder engagement.

Demonstrate the ability to manage an internal audit activity regarding the International Professional Practices Framework (IPPF).

Integrated Assessment:
The integrated assessment takes the form of an appropriate variety of both summative and formative assessment methods for example: written and oral examinations, problem-solving assignments, projects, case studies and the successful completion of a research project.

There is an appropriate balance between formative and summative assessments. The formative assessment usually consists of a variety of assessment tasks relevant to the field of study. In this qualification, it will consist of a variety of tasks such as assignments, group projects, on-line tests, simulations and case studies. Summative assessments usually consist of a variety of formal assessment tasks relevant to the field of study, including written tests, reports, authentic work-place group assignments and simulated case studies.

INTERNATIONAL COMPARABILITY

The international benchmarking exercise was conducted in terms of institutional requirements and guidelines, which include the following: determining the scope of the benchmarking exercise; the selection of a variety of reputable HE institutions internationally; the selection of comparable qualifications and aspects from these qualifications; analysis and evaluation of programme design of the selected qualifications; as well as conclusions and recommendations for curriculum renewal at the institution.

The IIA Global's International Competency Framework for Internal Auditing, developed by the Institute of Internal Auditors Incorporated is the basis for IIA SA designations and other Internal Auditing qualifications. Internal Auditing as a profession is regulated and largely guarded by the IIA global profession body. The IIA framework is globally acknowledged in more than 120 countries, providing a wide benchmarking spectrum; although the focus for this benchmarking was mainly on qualifications that are similar to the Advanced Diploma in Internal Auditing at NQF Level 7. IIA works closely with and endorses internal auditing qualifications for universities through the Internal Auditing Education Partnership (IAEP) programme. The IAEP programme endorses universities by providing them with designations, the highest being recognised as a Centre for Internal Auditing Excellence, of which only 10 universities have been recognised as such in the world.

In terms of this qualification, the international benchmarking exercise revealed the following:
The international benchmarking was done against identifiable European and USA-based Centres for Internal Auditing Excellence. In designing this Advanced Diploma in Internal Auditing, an extensive review of existing internal auditing qualifications at internationally renowned Centres for Internal Auditing Excellence was conducted for benchmarking purposes. Course components such as information systems auditing, accounting information systems, financial management and were designed in line with fourth-year offerings at the following international universities: 1) Erasmus University Rotterdam, 2) Birmingham City University (United Kingdom), 3) Louisiana State University, and 4) Kennesaw State University (United States).

Erasmus University Rotterdam (Netherlands):
The Erasmus University's School of Accounting and Assurance offers an Internal Auditing and Advisory Degree. The qualification was developed to respond to the growing interest in internal auditing and prepare earners for the Certified Internal Auditor (CIA) examination. The qualification is offered over one year same as the Advanced Diploma in Internal Auditing. The course structure, is equivalent to the South African qualification, preparing learners to perform internal audits with a specific focus on systems control, risk and governance in line with the competencies expected of the Advanced Diploma in Internal Auditing. The qualification offers similar modules in Financial Reporting, Accounting Information Systems, and Financial Management, although the South African qualification does not have separate modules on Governance, risks and controls, the Exit Level Outcomes for Internal Auditing 4 are similar.

Birmingham City University (United Kingdom):
The Birmingham City University offers a BSc (Honours) in Accountancy, a CIA preparatory certificate for Internal Auditors as well as a Master's degree in Internal Auditing. The fourth-year curriculum includes IT Auditing, Accounting Information Systems similar to the Advanced Diploma in Internal Auditing. The difference is with the modules Financial Auditing, Governance and risk controls, whose outcomes are covered in both the Financial Management and Auditing 4 modules of the Advanced Diploma in Internal Auditing. Even though the preparatory course is predominantly offered as an executive development course, the course structure and curriculum were used as a reference point for the Advanced Diploma in Internal Auditing in that it is a fourth-year exit level offering for learners preparing for CIA. The aligned modules with the advanced Diploma in internal auditing are IT Auditing which is similar to Information Systems Auditing, and Accounting Information Systems.

Louisiana State University (USA):
The Louisiana State University Centre for Internal Auditing (LSUCIA) in the United States offers an Internal Auditing Diploma at fourth-year level with emphasis on Internal Auditing, Information Systems and Decision Sciences. The qualification is considered a premier international internal audit qualification that serves as preparation for the Certified Internal Auditor (CIA) examinations. The Advanced Diploma in Internal Auditing is similar in that it also equips students with the knowledge, skills, attributes and ethical consciousness to function optimally. Furthermore, the qualification provides training on corporate governance, risk, and controls. Additionally, the instructional approach consists of activity-based learning that can add value, facilitate change, assess risk, enhance corporate governance, and improve business processes. The Advanced Diploma in Internal Auditing compares well in its construct and structure as well as its inclusion of the module on Management and use of case studies, learner-centred practical and group discussions.

Kennesaw State University (USA):
The Kennesaw State University Internal Audit Centre (IAC) is partnered with the global IIA to 1) provide an Internal Auditing Diploma to prepare learners for careers in Internal Auditing and related fields, 2) connect learners to the profession, and 3) engage in scholarly output. The qualification is designed to meet the needs of those who wish to gain a broad understanding of accounting information systems, auditing, internal auditing, and data analytics. Learners, therefore, receive a strong knowledge base to enter the Internal Audit profession. The structure and exit level outcomes of the Advanced Diploma in Internal Auditing are consistent with the annotated offering at KSU.

The aforesaid universities are considered leaders in Internal Audit education and training and are fully accredited by the Institute of Internal Auditing (IIA) as Centres of Internal Auditing Excellence. Benchmarking against these globally accepted qualifications provides the South African qualification with some notable international relevance. The benchmarking revealed the common trend of curricula that are based on the IIA's International Professional Practices Framework and the best practices for the internal auditing profession. The benchmarking also found that curricula are targeted at graduates with the skills and knowledge to help them conduct internal audits, as well as provide a foundation to begin preparing for the Certified Internal Auditor (CIA) examination. The review of assessments criteria, qualification duration and exit level outcomes helped in both formative and summative assessments. The above qualifications, therefore, compare with the Advanced Diploma in Internal Auditing as it prepares learners with the required skills and knowledge to help them conduct internal audits, and provides them with a foundation to begin preparing for the Certified Internal Auditor (CIA) examination.

ARTICULATION OPTIONS

This qualification allows possibilities for both vertical and horizontal articulation.

Horizontal Articulation:

Bachelor of Commerce in Internal Auditing, NQF Level 7.

Vertical Articulation:

Postgraduate Diploma in Internal Auditing, NQF Level 8.

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.

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