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 UNIT STANDARD: 

Apply concepts and principles relevant to the practical aspects of corporate governance and accountability 
SAQA US ID UNIT STANDARD TITLE
12885  Apply concepts and principles relevant to the practical aspects of corporate governance and accountability 
ORIGINATOR
SGB HET Accountancy and Financial Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
FASSET - Financial and Accounting Services SETA 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6  10 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
A person credited with this unit standard is generally found within the auditing field. On successful completion of the unit standard, people will be able to provide advice to clients on the practical elements of corporate governance and accountability. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Learners accessing this standard should demonstrate competence in the unit standards entitled:
  • " Implement auditing procedures" NQF level 5 

  • UNIT STANDARD RANGE 
    These competencies apply to the private and/ or the public sector. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the responsibilities of the different role players. 
    OUTCOME NOTES 
    Explain the responsibilities of the different role players and the principles of corporate governance and accountability 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The principles of corporate governance and accountability are explained in a meaningful manner 

    ASSESSMENT CRITERION 2 
    2. The specific responsibilities of management are described in terms of the relevant legislation 
    ASSESSMENT CRITERION RANGE 
    Stakeholder communication, reporting on internal controls, going concern and financial reporting
     

    ASSESSMENT CRITERION 3 
    3. Specific management responsibilities are explained in terms of the relevant legislation relating to reporting on compliance with the Code of Corporate Practice and Conduct 

    SPECIFIC OUTCOME 2 
    Prepare information concerning practical aspects of corporate governance and accountability. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Information is provided with regard to corporate practices and conduct, that adds value to the organisation 

    ASSESSMENT CRITERION 2 
    2. The functioning details of Board and committees are provided that comply with legal and organisational requirements 
    ASSESSMENT CRITERION RANGE 
    Board responsibilities, authority and functioning
     

    ASSESSMENT CRITERION 3 
    3. Audit committees are established and implemented in accordance with GAAP/ GRAP 

    ASSESSMENT CRITERION 4 
    4. An organisational structure is presented that complies with industry standards and organisational strategy 

    ASSESSMENT CRITERION 5 
    5. Management control system information is provided that allows for improved productivity and organisational functioning 

    SPECIFIC OUTCOME 3 
    Demonstrate knowledge of risk management elements related to corporate governance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Business risk and exposures are identified that encompass strategic, financial, operational and systems risks 

    ASSESSMENT CRITERION 2 
    2. The probability of loss and related consequences are explained to the client in a meaningful manner 

    ASSESSMENT CRITERION 3 
    3. Preventative, detective and corrective strategies for risk management are described in line with GAAP/ GRAP 

    ASSESSMENT CRITERION 4 
    4. Information risk management processes are described in line with organisational needs and environment 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    ACCREDITATION AND MODERATION:

    Accreditation for this unit standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative assessment by a registered assessor.
  • Assessors must be registered as an Assessor with the relevant ETQA
  • Moderators must be registered as assessors with the relevant ETQA, or with an ETQA that has a Memorandum of Agreement with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA
  • Moderation should include both internal and external moderation where applicable. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    A demonstrated understanding of:
  • Generally Accepted Accounting Practice (GAAP)
  • Generally Recognised Accounting Practice (GRAP)
  • Corporate practices and conduct
  • The King Code
  • The role of the internal audit
  • Risk management 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation and community. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Be culturally and aesthetically sensitive across a range of social contexts 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23653   National Diploma: Financial Markets  Level 6  NQF Level 06  Passed the End Date -
    Status was "Reregistered" 
    2020-07-30  FASSET 
    Elective  58246   Bachelor of Human Settlements Development  Level 6  Level TBA: Pre-2009 was L6  Passed the End Date -
    Status was "Reregistered" 
    2018-06-30   
    Elective  48967   National Certificate: Business Advising Operations  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  SERVICES 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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.
     
    NONE 



    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.