Advanced Diploma in Internal Auditing
Business, Commerce and Management Studies - Finance Economics and Accounting
Purpose and Rationale
Qualification: Advanced Diploma in Internal Auditing
- Level: Level 7 of the National Qualification Framework (NQF)
- Credits: Minimum of 120
- Duration: One-year full time
Purpose:
- Vocational learning programme
- Prepares for careers in Internal Auditing
- Trains as Internal Audit Technicians or Professional Internal Auditors
- Develops deep understanding of Internal Auditing
- Guides conduct by professional code of conduct
- Enables progression in different career paths
- Focuses on resolving complex problems and tasks
- Emphasizes technical and soft skills development
- Provides accounting knowledge according to IFRS
- Enables graduates to function with minimum supervision
- Offers intensive, applied specialisation
- Includes work-integrated learning (WIL) component
- Allows entry into Postgraduate Diploma or Bachelor's Degree
Rationale:
- Addresses shortage of competent internal auditors in South Africa
- Meets legal requirements for internal audit functions
- Ensures compliance with governance guidelines and legislation
- Helps simplify processes and ensure adherence to regulations
- Provides assurance and advisory services for organizations
- Stem the dearth of knowledgeable and competent internal auditors
- Prepares for professional examinations and learnerships
- Aligns with government policies for vocational and professional pathways
- Allows automatic entry to professional tests of competence
- Enables seeking employment or internship opportunities in internal auditing
The programme aims to bridge the gap in internal auditing competence in South Africa by providing a comprehensive learning experience that meets industry needs and aligns with professional standards.
Outcomes
- Demonstrate an understanding of advanced internal audit processes and information systems concepts needed to perform different types of internal audit engagements and the planning, management and communicating thereof within various sectors.
- Demonstrate an understanding of advanced financial reporting and interpretation of financial statements for various sectors.
- Demonstrate an understanding of a range of suitable methods of enquiry in performing internal audit engagements, information systems audit engagement, financial reporting and interpretation of financial statements as well as the ability to select and apply these methods to resolve problems within various sectors.
- Demonstrate the ability to identify, analyse, evaluate and mitigate key risks areas that are addressed by various types of internal audit engagements and information systems, by recommending appropriate mitigating activities and information security for various sectors.
- Demonstrate the ability to take decisions, act ethically and professionally, and justify the decisions and actions as prescribed for the internal audit profession.
- Demonstrate the ability to manage internal audit engagement processes within various types of internal audit engagements, information systems and financial reporting and interpretation, and how these impact on internal audit engagements within various sectors.
- Demonstrate the ability to identify, evaluate and address learning needs in a self-directed manner, and to facilitate collaborative learning processes relevant to internal auditing.
Assessment Criteria
Associated Assessment Criteria for Exit Level Outcome 1:
- Explain information systems concepts within various sectors.
- Apply different types of internal audit engagements within various sectors.
- Apply the planning, management and communicating of internal audit engagements within various sectors.
- Explain advanced internal audit processes within various sectors.
Associated Assessment Criteria for Exit Level Outcome 2:
- Recognise, evaluate, and discuss financial reporting in compliance with International Financial Reporting Standards (IFRS) and the Companies Act for various sectors.
- Identify, evaluate, and select interpretation methods of financial statements for various sectors.
Associated Assessment Criteria for Exit Level Outcome 3:
- Interpret, select, and apply suitable methods in performing internal audit engagements for various sectors.
- Interpret, select, and apply suitable methods in performing information systems audit engagements for various sectors.
- Apply suitable methods in preparing financial reports for various sectors.
- Apply suitable methods in interpreting financial statements for various sectors.
- Interpret, select, and apply suitable methods in performing costing, budgeting, inventory, and performance management for various sectors.
Associated Assessment Criteria for Exit Level Outcome 4:
- Comprehensively identify, analyse, and evaluate the key risks addressed by various types of internal audit engagements for various sectors.
- Identify, analyse, and evaluate the key risks in information systems for various sectors.
- Categorise, compare, and recommend suitable risk mitigating strategies and information security for various sectors.
Associated Assessment Criteria for Exit Level Outcome 5:
- Explain the ethical and professional implications of decisions and actions prescribed for internal auditors within the internal audit profession.
- Apply the ethical and professional implications of decisions and actions prescribed for the internal audit profession within an organisation.
Associated Assessment Criteria for Exit Level Outcome 6:
- Manage internal audit engagement processes within various types of internal audit engagements, information systems, financial management concepts, and financial reporting and interpretation within various sectors.
Associated Assessment Criteria for Exit Level Outcome 7:
- Identify, evaluate, and address learning and work performance, specific learning needs, teamwork, responsibility for own actions and actions of others using collaborative learning in work-integrated learning against given criteria relevant to Internal Auditing.
Integrated Assessment:
In order to achieve the stated exit outcomes, Integrated Assessment will take the form of various Formative and Summative Assessments. The assessments will measure the extent to which learners can practice their competency in the field of internal auditing and integrate the knowledge, skills, and attitudes delivered to them. These assessments will include:
- Interim presentations
- Continuous feedback and critique on work in the programme
- Class tests
- Written exercises
- Presentations
- Group assignments
- Individual written assignments
- Essays
- Examinations
Work integrated learning will also be part of formative development in a simulated form to enhance reflexive competencies.
Qualification Details
- Type
- Advanced Diploma
- NQF Level
- 07
- Min. Credits
- 120
- SAQA Source
- More Information
Education Cost Calculator
This page includes information from the South African Qualifications Authority (SAQA) . Builtneat Pty Ltd trading as Study Start, has modified all or some of this information. SAQA has not approved, endorsed, or tested these modifications.