Advanced Diploma in Internal Auditing
Business, Commerce and Management Studies - Finance Economics and Accounting
Purpose and Rationale
Purpose:
The Advanced Diploma in Internal Auditing offers learners the opportunity to gain scientific knowledge, insight, analytical skills, and practical experience to ensure that they are competent to perform in an Internal Auditing function in an organisation. The purpose of the qualification is to provide the learner with a deep and systemic understanding of current thinking practice, theory, and methodology followed in internal auditing through a curriculum that is based on the competencies required by the Institute of Internal Auditing. The qualification equips qualifying learners with advanced knowledge, skills, and competencies in Internal auditing, Financial accounting, Cost and Management accounting, Information systems auditing, and Business communication. It also equips learners with research knowledge and skills to enable them to investigate internal auditing problems and prepare them for further studies. A further purpose of the qualification is the development of employable Internal Auditors and Financial Accountants to address the critical shortage in industry and to align with the national development plan of South Africa.
Rationale:
The qualification is offered as a vertical progression for the Diploma in Internal Auditing to learners who wish to further their studies. The qualification is aligned with the IIA Inc. Competency Framework to ensure that it meets the requirements of industry and that it contributes to the employability of qualifying learners. This framework is globally acknowledged in more than 120 countries. Qualifying learners will be able to register with the Institute of Internal Auditors for the Internal Audit Technician Professional Training Program. The teaching, learning, assessment, and research approach in this qualification address industry, social, economic, and community needs of South Africa through applied approaches where the learner is actively and inter-actively involved in the learning process. The qualification is designed to give specialized knowledge in a disciplined field of study that needs specific skills and applied competences that provide opportunities for continued intellectual growth.
Outcomes
- Demonstrate understanding of the business environment and the role of internal auditors in risk management, governance and control processes.
- Apply internal audit methodology to perform internal audit and associated roles.
- Demonstrate proficiency in in effective communication skills for interviewing, facilitating processes, and doing presentations.
- Demonstrate research knowledge and skills to define and investigate broadly defined internal auditing problems.
- Apply interdisciplinary based information to solve internal auditing, financial accounting and management accounting problems.
- Practice the ethics pertinent to an independent auditor.
Assessment Criteria
Associated Assessment Criteria for Exit Level Outcome 1:
- Analyse, evaluate, and recommend improvements to risk management, control, and governance processes.
- Demonstrate understanding of the business environment and the role of the internal auditor in enterprise risk management.
- Facilitate control self-assessment of a business unit or process.
- Understand the business legislative environment and its influence on the role of the internal auditor.
- Illustrate how Information System risk controls, Information System Networks, Telecommunications, and E-business affect organizations.
Associated Assessment Criteria for Exit Level Outcome 2:
- Apply the International Planned Parenthood Federation (IPPF) in managing the internal auditing activity.
- Apply internal auditing methodology in operational audits and public sector auditing.
- Apply the International Internal Auditing Standards in reporting audit findings.
- Apply internal auditing methodology and effective communication skills in reporting audit findings.
- Assess and select appropriate theories, practices, and methodologies critical for producing an IS audit report.
- Determine and recommend appropriate Computer Assisted Audit Techniques (CAATs) for various scenarios.
- Apply forensic auditing techniques to evaluate potential fraud areas.
- Evaluate planning methodologies and procedures for conducting comprehensive Information System audits.
Associated Assessment Criteria for Exit Level Outcome 3:
- Apply the International Internal Auditing Standards in reporting audit findings.
- Apply internal auditing methodology and effective communication skills in reporting audit findings.
- Compose effective business letters and memos.
- Explain the role of interpersonal and group communication in the business environment.
- Plan, propose, and write reports.
- Make public presentations.
- Write job resumes.
Associated Assessment Criteria for Exit Level Outcome 4:
- Identify and analyse a research problem.
- Recommend a type of literature review.
- Discuss the literature review process.
- Formulate a research question and/or hypothesis.
- Justify a specific research process.
- Recommend sampling methods.
- Recommend data collection methods.
Associated Assessment Criteria for Exit Level Outcome 5:
- Analyse and recommend improvements to organizational operations through the application of management accounting techniques.
- Demonstrate mastery of costing, cost management, budgeting, and performance measurement systems.
- Evaluate the balance between financial and non-financial information in decision making.
- Analyse and apply various costing systems in decision making.
- Prepare operational and strategic budgets.
- Apply strategic performance measurement systems.
- Explain and calculate variances.
- Discuss strategic cost management techniques.
- Describe the balanced scorecard perspectives.
- Understand and apply principles related to financial statements, revenue recognition, deferred taxes, assets, accounting policies, provisions, and contingencies.
- Prepare and present complex consolidated financial statements.
Associated Assessment Criteria for Exit Level Outcome 6:
- Apply the IPPF in managing internal auditing.
- Apply International Internal Auditing Standards in reporting audit findings.
- Discuss sampling methods and recommend a suitable method.
- Discuss data collection methods and recommend appropriate methods.
Integrated Assessment:
- Learning outcomes are assessed continuously through assignments, tests, and presentations culminating in written examinations.
Qualification Details
- Type
- Advanced Diploma
- NQF Level
- 07
- Min. Credits
- 120
- SAQA Source
- More Information
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