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: 

Diploma in Internal Auditing 
SAQA QUAL ID QUALIFICATION TITLE
97001  Diploma in Internal Auditing 
ORIGINATOR
Nelson Mandela University 
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  360  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 
A qualifying learner will be able to perform (manual and computerised) financial and operational audit functions as part of an audit team or independently. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Recognition of Prior Learning (RPL):
Access may be granted, through the Recognition of Prior Learning (RPL), to learners who do not meet the minimum entry requirements.

Entry requirements:
  • A qualification at Level 5 in Auditing.
  • National Senior Certificate, Level 4 granting access to Diploma studies.
  • Senior Certificate, Level 4 with Matriculation exemption.
  • National Certificate Vocation, Level 4 with a relevant specialisation, granting access to Diploma studies. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    EXIT LEVEL OUTCOMES 
    The qualifying learner should be able to:
    1. Audit manual and computerised business cycles.
    2. Prepare and interpret financial statements of companies and groups of companies in accordance with GAAP, 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 small retail business.

    Specified Outcomes:
    1.1 Draw up an audit program in accordance with current practice.
    1.2 Perform manual and computerised compliance and substantive financial audit tests on various fields within the organisation.
    1.3 Perform manual and computerised operational audit tests on various fields within the organisation.
    1.4 Apply statistical sampling in selecting data for audit tests,).

    2.1 Prepare financial statements for companies disclosing all information required by GAAP.
    2.2 Prepare consolidated financial statements for a group. (Max 2 subsidiaries).
    2.3 Illustrate disclosure requirements in respect of changes in accounting policy, leases, instalment sales and earnings per share,).
    2.4 Determine, compare and interpret ratios of profitability, liquidity, financial structure and financial cover.
    2.5 Determine the value of business interests by way of at least 3 valuation methods.

    3.1 Prepare the accounting entries and draft the balance sheet reflecting the effect of liquidations, amalgamations and reconstructions.
    3.2 Record investment transactions and clearly distinguish capital from income.

    4.1 Identify taxable income and tax-deductible expenses.
    4.2 Prepare annual tax returns for individuals and other bodies.
    4.3 Prepare provisional tax returns.
    4.4 Explain the tax liability of the employer.

    5.1 Describe the interaction between supply and demand within the market place.
    5.2 Identify the various market forms.
    5.3 Discuss monetary policy.
    5.4 Discuss fiscal policy.
    5.5 An understanding of international trade and finance.

    6.1 Compile an effective Internet mail and communication system for the business,
    6.2 Compile an effective external communication system (mail, fax, e-mail, internet, etc.) for the business.
    6.3 Compile effective documentation systems for the activities of the business.
    6.4 Select an effective computer software system for the administration of a retail business.
    6.5 Identify and determine the viability of a business opportunity.
    6.6 Compile a workable business plan, with subsections covering clearly 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. 

    ASSOCIATED ASSESSMENT CRITERIA 
    1.1. An audit program is drafted in terms of current practice and the required tests are correctly performed.
    1.2. The audit evidence is validly documented.
    1.3. An Internal Audit Report, in accordance with professional standards, is correctly drafted.
    1.4. Statistical sampling is correctly applied in the selection process.

    2.1. Financial statements and consolidated financial statements, illustrating disclosure requirements in respect of accounting policy, leases, instalments and earnings per share, are prepared.
    2.4. Ratios are calculated, compared and interpreted.
    2.5. The value of business interests is determined.

    3.1. Accounting entries and balance sheets reflecting the effect of liquidations, amalgamations and reconstructions, are prepared.
    3.2. Investment transactions are correctly recorded.

    4.1. The tax liabilities of different legal entities are determined.
    4.2. Annual tax returns are prepared.
    4.3. Provisional tax returns are prepared.
    4.4. The tax liability of the employer is determined.

    5.1. The interaction between supply and demand is explained to ensure that the learner will understand the basic principles of a market economy.
    5.2. Market forms are identified.
    5.3. Monetary and fiscal policies are discussed.
    5.4. Practical economic scenarios covering national and international situations are discussed and interpreted.
    5.5. An understanding of international trade and finance is demonstrated.

    6.1. An effective internal mail and communication system for the business is correctly designed.
    6.2. An effective external communication system for the business is correctly devised.
    6.3. Effective documentation systems for the activities of the business are correctly designed.
    6.4. An effective computer software system for the administration of a retail business is correctly selected.
    6.5. The viability of a business opportunity is correctly identified and determined.
    6.6. A workable plan is correctly compiled.

    Integrated Assessment:
    Competency is formatively assessed by way of tests and projects, and summatively by way of written and practical examinations. 

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

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

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
    When qualifications are replaced, some (but not all) of their learning programmes are moved to the replacement qualifications. If a learning programme appears to be missing from here, please check the replaced 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. Nelson Mandela University 


    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.