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 THAT HAS PASSED THE END DATE:

Master of Commerce: Financial Management

SAQA QUAL ID	QUALIFICATION TITLE
20355	Master of Commerce: Financial Management
ORIGINATOR
Institute for Public Finance and Auditing (IPFA)
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
-			HEQSF - Higher Education Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Master's Degree	Field 03 - Business, Commerce and Management Studies		Finance, Economics and Accounting
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	535	Level 8 and above	NQF Level 09	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Passed the End Date - Status was "Registered"		SAQA 9900/00	2003-07-01	2006-06-30
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2007-06-30		2010-06-30

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

To provide a recognised qualification for learners wishing to enter the public sector, or for those employed in the public sector wishing to progress to, the level of a Chief Financial Officer. The qualification provides a structured education and training programme for learners. Upon successful completion, learners will be eligible to register as a Registered Public Sector Financial Officer at IPFA, and may be able to register with other professional accountancy bodies such as ACCA, SAICA, CIMA.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

National Degree in Public Sector Accounting - level 7

Recognition of prior learning:

The qualification may be achieved in whole or in part through the recognition of prior learning, where such prior learning is at the same NQF level as that of each particular Unit Standard.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

Rules of Combination:

All core and fundamental standards must be completed to ensure at least 535 credits for the entire National Masters Degree in Public Sector Financial Management is obtained. Electives could be added above the level of this qualification. Any such electives may be sourced from the National Qualifications Framework (NQF), as long as it (1) relates directly to the industry in which the learner is employed/seeks employment and (2) has been recognised by the relevant National Standards Body (NSB) as learning which equips the learner with competencies which assists in achieving the purpose of this qualification.

EXIT LEVEL OUTCOMES

Specific Outcomes:

Learners will have demonstrated the ability to consider a range of options in order to make decisions about and evidence performance around various unit standards for the qualification. The learner will have the level of competence that is relevant to this specific qualification. The levels of competence are as follows:

Level 1: Knowledge and comprehension
This calls for a knowledge and understanding of the facts, methods, processes, patterns and structures and an ability to list and explain them. It involves memorising as well as an awareness, immediate discovery, recall or recognition of relevant information in various forms. A limited degree of interpretation is required.

Level 2: Application
This calls for a knowledge of the background and of the facts, an understanding thereof and the ability to apply rules, principles, techniques and methods to a problem in order to find an answer based on the information which is provided.

There is normally only one ideal solution to the problem and the solution is therefore logically determined by the information provided. It may also be referred to as the "convergent application of knowledge".

Level 3: Integration
This calls for a full factual knowledge of the topic, the background thereto and of related topics, and an ability to carry functions of integration, such as analyses, interpretation, synthesis and evaluation. It includes the application of multidisciplinary knowledge and problem solving, in instances where there is more than a single acceptable solution. In this sense it constitutes creative thinking, comprising fluency, flexibility, originality, critical awareness and independent thought. It may also be referred to as the "divergent application of knowledge."

The level of competence will be shown under the standards comprising the qualification.

Critical Cross-Field Outcomes:

Learners will have demonstrated the ability to reflect on, evaluate and adapt and improve on the embedded knowledge and specific outcomes in a variety of contexts.

All the critical cross-field outcomes will be applicable in each of the unit standards at the same level of competence as described under specific outcomes.

ASSOCIATED ASSESSMENT CRITERIA

The standards describe competent performance in Public Finance, and lay down the criteria by which competence should be judged, as well as the range of circumstances in which competence should be demonstrated.

Integrated assessment:

Integrated assessment methods and tools will allow the learner to demonstrate that she/he has acquired knowledge of and can safely and effectively apply competence in public accountancy; relevant administrative procedures; clear and effective communication skills, resource selection and business principles.

These tools include the following:

1. Written (e.g. tests/case studies/projects)
2. In-situ (on-the-job) observations
3. Simulation
4. Role-play/structured classroom discussions
5. Portfolio of evidence

These methods must be carefully selected based on the purpose of the assessment (for example, the written method of assessing knowledge, or on-job demonstration of practical competence). The assessment must integrate a number of different methods in order to give the assessor reliable and valid proof of competence and evidence of required attitudes.

A particular requirement will be for the learner to produce a 'research report', focussed on a real problem in his or her workplace, and completed over a minimum of three months. The proposed subject of the research report must be agreed, in writing, with the learner's employer, who must also certify that the final report is the work of the learner. An assessor registered by the ETQA will undertake assessment of the report. This assessment and will carry a substantial weight in the overall assessment of the successful achievement of the qualification.

Requirements of a Portfolio

Valid, reliable and authentic evidence (presented as a portfolio of evidence) from past achievements and experience which serves to supplement the assessment of applied competence.

The portfolio may include inter alia:
1. Written statements from persons (e.g. current and/or previous employer, colleague, peer, manager, external customers) confirming competence of the learner
2. Relevant certificates or awards
3. Previous assessment records
4. Journals/logbook

For each Standard there are corresponding performance assessment criteria which describe the evidence which an assessor should use to make judgement on a candidate's competence.

Candidates are assessed against these assessment criteria. Currently employed candidates are observed carrying our their normal work duties by an assessor. They may also be asked to carry out simulated tasks and to answer written and/or oral questions.

Candidates studying towards a Unit Standard, and who are not currently employed, will also be assessed using variety of assessment tools.

INTERNATIONAL COMPARABILITY

IPFA, together with the Department of State Expenditure (now National Treasury), has completed a Financial Training Needs Assessment in the Public Sector. The areas of (finance-related) competence required by staff operating at different levels in the Public Sector were defined to ensure that relevant education and training interventions will be designed and implemented to professionalise the financial disciplines in the Public Sector. A representative of SAQA was an observer at this comprehensive and scientifically-based assessment that was completed over a period of six months by a team of consultants.

As part of this Training Needs Assessment, work done by the Interim Representative Council of Accountants was tested for application in the public sector. The outcome of this Assessment has thus provided the basis for the competence-based framework used to design the qualification, and is therefore closely aligned to comparable designations in the private sector.

However, some differences do exist, for example, a greater emphasis on performance measurement and a lesser emphasis on Taxation. The range statement/underpinning knowledge also differ between the two sectors, for example:

no/very little focus on different type of business entities such as partnerships,

no/very little focus on commercial laws such as estate duty and Companies Act, with more focus on the regulatory public sector environment.

Specific requirements to achieve complete mobility between the private and public sector will be specified. For example, for a CA (SA) to register as a Registered Public Sector Financial Officer, he/she will be required to sit an assessment on the regulatory environment, or need to gain at least six months experience in the public sector.

The professionalisation of the financial disciplines in Government will be more effective when Government aligns itself with the accrual accounting basis applied in the private sector. This qualification requires competence in terms of an accrual basis of accounting.

Furthermore, in formulating the standards for the National Masters Degree in Public Sector Financial Management, reference has been made to the following:

South African Institute of Chartered Accounts (SAICA), Syllabi of a CA (Financial Management)

Canadian Institute of Chartered Accountants, new competency model

Chief Financial Officers (CFO) Council and the Joint Financial Management Improvement Program (JFMIP), Core Competencies: Financial Managers in federal Government

U.S. Office of Personnel Management (OPM) - Leadership Effectiveness Framework

New Zealand Institute of Chartered Accountants

Public Accountants and Auditors Board (PAAB) - recognition model

The Association of Chartered Certified Accountants (ACCA)

This qualification will provide an opportunity to equip Chief Financial Officers with the skills needed for successful implementation of the reforms required in government financial management.

MODERATION OPTIONS

Education and Training institutions offering the qualifications, or part thereof, shall be accredited in terms of the criteria laid down by the relevant SETA/ETQA.

Qualified Assessors will be appointed by the education and training institutions offering the qualifications and must be registered and accredited with the relevant ETQA.

CRITERIA FOR THE REGISTRATION OF ASSESSORS

The Assessors must be registered with the relevant ETQA.

NOTES

Embedded knowledge:

All the outcomes in the unit standards in this qualification will take into account the sector environment in context (as applicable), including:

General Government knowledge:
National structures
Provincial structures
The Government decision-making process
Programme setting process

Government specific financial (1) Relevant sections of the Constitution of South Africa, Act 108 of 1996 (e.g. S 216)
(2) Public Finance Management Act
(3) Treasury Regulations to the Public Finance Management Act
(4) Reforms in budgeting and budgetary systems
(5) Planning
(6) Medium Term Expenditure Framework (MTEF)
(7) Accountability in the Public Sector
(8) Best practice guidelines issues by National Treasury
(9) Procurement in the Public Sector, including statutory tender requirements
(10) Project management and project management systems
(11) Salary and relevant personal salary systems
(12) Understanding of the Management Information System (MIS) and formal reporting systems
(13) Trading accounts, public entities
(14) Knowledge of applicable financial systems e.g. Financial Management System (FMS), Basic Accounting System (BAS)
(15) Occupational Safety Committee directives

General financial:
General Accepted (Recognised) Accounting Practice (GAAP/GRAP)
Economic growth
Effects of unemployment
Inflation
Economic activities
Monetary policy
Fiscal policy
Balance of payments
Exchange rate policy

It must be noted that each unit standard has its own more detailed description of the embedded knowledge component.

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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