Diploma in Internal Auditing

Purpose

A qualifying learner will be able to perform (manual and computerised) financial and operational audit functions as part of an audit team or independently.

Rationale

The internal audit function is recognised internationally as an essential part of good corporate governance in organisations, entities and government departments. In South Africa, legislation requires the establishment of an internal audit function in every public sector entity. This qualification will help to provide the required number of graduates to be able to fulfil the internal audit role. They will also to develop the required competencies, such as, to plan, implement, manage and advise on internal audits.

Recognition of Priuor learning (RPL)

RPL may be used to grant access to the qualification to learners who do not meet the minimum entry requirements.

Entry Requirements

The minimum entry requirement is

• National Senior Certificate, Level 4 granting access to Diploma studies or its equivalent.

This qualification consists of compulsory modules at Level 6 totalling 360 Credits.

Modules

• Business Information Systems Module 2, 12 Credits.
• Cost Accounting 1 Module 1, 12 Credits.
• Financial Accounting 1 Module 2, 12 Credits.
• Commercial Law for Accountants Module 2, 12 Credits.
• Communication Skills, 12 Credits.
• Financial Accounting 1 Module 1, 12 Credits.
• Business Information Systems Module 1, 12 Credits.
• Economics 1 Module 2, 12 Credits.
• Entrepreneurial Skills, 12 Credits.
• Economics 1 Module 1, 12 Credits.
• Financial Accounting 2 Module 1, 12 Credits.
• Cost Accounting Module 2, 12 Credits.
• Business Calculations, 12 Credits.
• Commercial Law for Accountants 1, 12 Credits.
• Taxation Module 1, 12 Credits.
• Auditing Module 2, 12 Credits.
• Commercial Law for Accountants Module 3, 12 Credits.
• Auditing Module 1, 12 Credits.
• Financial Accounting 2 Module 2, 12 Credits.
• Cost Accounting Module 3, 12 Credits.
• Financial Accounting Module 3, 12 Credits.
• Taxation II Module I, 12 Credits.
• Internal Auditing III Module 1, 12 Credits.
• Corporate Procedures, 12 Credits.
• Statistics II, 12 Credits.
• Financial Accounting III Module 2, 12 Credits.
• Business Information systems II Module 1, 12 Credits.
• Business Information Systems II Module 2, 12 Credits.
• Internal Auditing III Module 2, 12 Credits.
• Taxation Module 2, 12 Credits.

1. Implement and maintain accounting systems in compliance with basic principles.
2. Analyse cost management accounting and accounting systems in compliance with national and international principles.
3. Apply and use a variety of quantitative techniques.
4. Do advanced assessments of individual, company tax and value added tax and assess accounting systems and internal control systems.

The following Associated Assessment Criteria will be applied in an integrated manner to the Exit Level Outcomes

• Implement and maintain accounting systems in compliance with basic principles.
• Analyse cost management accounting and accounting systems in compliance with national and international principles.
• Apply and use a variety of quantitative techniques.
• Do advanced assessments of individual, company tax and value added tax.
• Assess accounting systems and internal control systems.
• Respond to the challenges that face the corporate world.
• Use appropriate internal auditing and general accounting principles.
• Effectively execute internal audit tasks in a business environment.
• Apply specialised income tax, value added tax, auditing and accounting knowledge to all financial and taxation related matters, independently as taxation officer in the SARS office or as senior clerk under the supervision of an accountant with an accounting firm.

Integrated Assessment

The following assessment tools are utilised

• Portfolios.
• Simulations.
• Written assignments.
• Written tests.
• Case studies and case presentations.
• Face-to-face contact with learners.