Postgraduate Diploma: Forensic Auditing

Purpose

A Postgraduate Diploma: Forensic Auditing (PGDFA) learner is actively engaged in becoming a well-rounded, educated person and in preparing for further, more specific study or for the forensic auditing work environment. This qualification offers an advanced understanding of theories and practices pertaining to the field of Forensic Auditing and equips the learner with the necessary skills to manage forensic audit activities in diverse business environments. The Postgraduate Diploma: Forensic Auditing learner performs a critical role in society by practising ethics pertinent to business and communicates in a clear, rational and logical manner.

The purpose of this qualification is firstly to prepare learners for a career in forensic auditing. Secondly, this qualification prepares learners to write the Certified Fraud Examiners' (CFE) examination. Thirdly, this qualification forms part of the learning pathway to qualify as a Forensic Accountant/Auditor (CFP-FA) with the Institute of Commercial Forensic Practitioners (ICFP).

Rationale

With the growth of white-collar crime and budget constraints on law enforcement, many organisations have to utilise internal resources to control fraud. Auditors need to be alert to inadequacies in record keeping and to errors and unusual results which could be indicative of fraud, improper or unlawful expenditure, unauthorised operations, waste, and inefficiency.

Forensic auditors are able to apply auditing skills to situations that have legal consequences. The Postgraduate Diploma: Forensic Auditing offers the relevant professional skills to prepare the learner for a career in forensic auditing and expand the pool of certified fraud examiners. This qualification provides a comprehensive framework, which uses forensic auditing methodology, to allow individuals to detect, investigate and deter fraud.

Learners accessing this qualification should

• Be able to read and critically evaluate academic text in English (NQF Level 7) and communicate information and their own ideas orally and in written text that is grammatically correct, well structured, clear and concise.
• Be able to independently plan, schedule and take responsibility for the success of their learning in a structured and open distance learning (ODL) tuition environment and appropriately manage their time according to required outcomes.
• Be able to identify, access, retrieve and integrate information from scholarly or professional literature.
• Be proficient in the use of information technology so that they can access study material and participate in the Unisa learner system.
• Have a well-rounded knowledge, specific skills and applied competencies in the discipline of Auditing and Financial Accounting.

Recognition of Prior Learning

Leaners who do not meet the admission requirements can access the qualification through the Recognition of Prior Learning process. Recognition of prior learning can also be used to grant learners credits towards the qualification. The Unisa Recognition of Prior Learning Policy guides this process.

Recognition of Prior Learning can also be used to gain credits towards the qualification.

Access to the Qualification

Access to this qualification is open to learners in possession of a Bachelor of Accounting Science (Financial Accounting) Degree or an equivalent qualification, with average of 60% or more, or a Bachelor of Accounting Science (Internal Auditing) Degree or an equivalent qualification, with an average of 60% or more.

All five NQF Level 8 modules, totalling 120 credits, are compulsory

• Financial Fraud Schemes, 24 Credits.
• Fraud Prevention and Detection, 24 Credits.
• Applied Law for Forensic Auditors, 24 Credits.
• Fraud Investigation, 24 Credits.
• Forensic Audit Reporting, 24 Credits.

1. Perform a critical social role in society and the economy.
2. Communicate forensic auditing information in a rational and logical manner.
3. Practise the ethics pertinent to Business, Commerce and Management and in particular those relating to the Forensic Auditor.
4. Demonstrate an advanced understanding of theories and practices pertaining to the field of Forensic Auditing specifically, but also in the related fields of business, commerce, applicable Acts and management studies.
5. Deal with advanced problems, specifically pertaining to the field of Auditing, but also in the related fields of business, commerce, law and management studies.
6. Manage Forensic audit activities and conduct Forensic audit engagements, in diverse business environments.

Critical Cross-Field Outcomes

The Postgraduate Diploma: Forensic Auditing promotes, in particular, the following critical cross-field outcomes

• Identify and solve problems and make decisions using critical and creative thinking.

> Note: Apply fundamental forensic auditing principles, methodologies and techniques in order to provide the necessary evidence as well as consulting services expected from forensic auditors to all levels of management in organisations as well as services rendered in terms of a judicial process.

• Work effectively with others as members of a team, group, organisation or community.

> Note: Accept work instructions pertaining to forensic auditing, interpret these correctly and request assistance in an appropriate manner as a team member.

• Organise and manage himself/herself and his/her activities responsibly and effectively.

> Note: Prepare for establishing proper procedure, indicate the prerequisites required and communicate this in writing.

• Collect, analyse, organise and critically evaluate information.

> Note: Reconcile information from various sources, examine physical evidence relevant to forensic auditing and constantly evaluate the process.

• Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written presentations.

> Note: Present and communicate information and opinions related to the field of forensic auditing in well-structured arguments, showing awareness of audience and using appropriate academic and professional discourse.

• Demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation.

> Note: Identify varying and diverse contexts in which forensic audit engagements are conducted.

• Show capacity to reflect on own learning.

> Note: Operate in variable and unfamiliar learning contexts, requiring responsibility and initiative; having capacity to self-evaluate and identify and address personal learning needs and interact effectively in a learning group.

Associated Assessment Criteria for Exit Level Outcome 1

• Use disciplinary and interdisciplinary-based information to take an informed stand regarding economic, business and trade policies.
• Assume a personal role in the business and economic environments.

Associated Assessment Criteria for Exit Level Outcome 2

• Answer questions in writing in an acceptable format.
• Use language effectively to convey ideas and insights intelligibly.
• Evaluate, interpret and generate information in and from a variety of sources.
• Explain the ramifications of economic policy and business decisions in a language that is accessible to the general public and various stakeholders in the business community.

Associated Assessment Criteria for Exit Level Outcome 3

• Apply knowledge and understanding of the ethics implied by corporate governance principles.
• Apply knowledge and understanding of the ethics prescribed by the Association of Certified Fraud Examiners, and those of the Institute of Commercial Forensic Practitioners.
• Understand the need to act professionally and ethically in regard to clients, employees and the world at large.

Associated Assessment Criteria for Exit Level Outcome 4

• Analyse, evaluate and apply advanced business, commerce and management theories and principles to practical situations.
• Contribute to the improvement and development (in a limited manner) of principles and procedures in practical situations.
• Customise and adapt international business, commerce and management practices and theories to South African requirements.

Associated Assessment Criteria for Exit Level Outcome 5

• Identify problems in the Forensic Auditing field and related disciplines.
• Develop appropriate solutions in the Forensic auditing context.
• Formulate appropriate responses to resolve both concrete and abstract problems Forensic auditors are normally confronted with.

Associated Assessment Criteria for Exit Level Outcome 6

• Demonstrate integrated knowledge of the nature and theory of specific forensic audit engagements.
• Apply advanced judgemental processes to identify and plan forensic audit assignments.
• Demonstrate knowledge of different financial fraud schemes and the red flags thereof.
• Advise management and other relevant parties about preventive measures that can be implemented to prevent fraud.
• Analyse and evaluate fraud prevention measures and advise on the suitability thereof or advise on a suitable plan to be implemented.
• Conduct advanced and specialised engagement procedures, report findings and follow up on the implementation of forensic audit findings.
• Analyse and evaluate specific offences that a forensic auditor is likely to encounter in the course of his or her investigations.
• Write forensic audit reports.
• Demonstrate knowledge of all aspects of fraud investigation, including background investigations, investigative interviewing, financial statement analysis, electronic evidence collection and recovery and use of computer-aided forensic audit techniques.
• Establish a Forensic audit activity.
• Manage a Forensic audit activity.
• Monitor the quality of Forensic audit work performed within the context of the legislative framework.

Integrated Assessment

Formative assessment

Learning and assessment are integrated and includes a combination of written and multiple choice assignments based on the learning material. Learners are given feedback in the form of written comments in assignments. The process is continuous and focuses on smaller sections of the work and a limited number of outcomes.

Summative assessment

Learners of this qualification write one two-hour examination per module per semester. Supplementary examinations at the end of the following semester are available for learners who obtained at least 45% as a final examination mark.

Integrated Assessment

All assessment integrates knowledge, skills and attitudes and applied competence.