Postgraduate Diploma in Internal Auditing

Purpose

The purpose of the Postgraduate Diploma in Internal Auditing is to prepare learners for their role as professional internal auditors in the workplace. It is designed to equip learners with the essential knowledge and specific skills to be competent in performing a variety of internal audit engagements. This knowledge will be achieved through a curriculum that is based on the competencies required by the Institute of Internal Auditing. The program includes studies in specialised fields of internal auditing and financial accounting. This qualification will allow for professionals already employed to further their studies and obtain a qualification designed to impart in-depth knowledge of contemporary topics in internal auditing and related fields.

In line with the intended learning outcomes of this qualification will allow learners not to only to have the ability to engage with contemporary issues in their profession but also equip them with problem-solving, analytical and communication skills required as part of their Institute of Internal Auditors Competency Framework. It will also provide learners with research knowledge and skills to enable them to investigate internal auditing problems and prepare them for further studies.

Rationale

The qualification will be offered as a vertical progression for this qualification in terms of the HEQSF. The qualification is aligned with the competency framework of the Institute of Internal Auditors to ensure that it meets the requirements of industry and that it contributes to the employability of learners. Learners will be able to register with the Institute of Internal Auditors for the Professional Internal Auditor Training Program. The qualification will also provide an opportunity for incumbent internal audit employees, especially in the public sector, where legislation requires the establishment of an internal audit function in every public-sector entity, to obtain the requisite qualification.

Recognition of Prior Learning (RPL)

The details of the Faculty RPL policy are as follows, presuming NO prior accredited learning has taken place

• Learner applies for RPL against the module, or part/full qualification at the relevant institution.
• Learner prepares evidence of work (Portfolio of Evidence) and any other suitable proof of evidence (practical work, assignments, and or assessments) and submit to the institution for RPL evaluation process.
• The learner then completes an RPL form and submits it to institution.

If the RPL is awarded, an exemption form is completed and the learner may continue with full registration.

Entry Requirements

The minimum entry requirement for this qualification is

• Advanced Diploma in Internal Auditing or equivalent, NQF Level 7.

This qualification consists of the following compulsory modules at NQF Level 8 totalling 130 Credits.

Compulsory Modules NQF Level 8, 130 Credits

• Environmental Auditing, 10 Credits.
• Organisational Dynamics, 15 Credits.
• Research Project in Internal Auditing, 30 Credits.
• Financial Accounting Module1, 15 Credits.
• E-commerce Auditing, 10 Credits.
• Forensic Auditing, 10 Credits.
• Risk-Based Auditing, 10 Credits.
• Financial Accounting Module 2, 15 Credits.
• Corporate Governance, 15 Credits.

1. Demonstrate competency and advanced critical understanding and interpretation of the International Professional Practice Framework (IPPF).
2. Exhibit competence in the application of advanced financial accounting concepts, including, but not limited to, public sector accounting, foreign currency transactions, government grants, investment properties.
3. Develop skills to perform various audit engagements, including e-commerce, forensic, corporate governance, environmental, risk-based.
4. Investigate, evaluate, and understand the dynamics of the business environment.
5. Apply a range of advanced competencies and skills to identify, analyse, and address complex or abstract problems in internal auditing.
6. Reflect self-directed and self-managed ability to take full responsibility for own work, decision-making and use of resources.
7. Analyse and critically review information collection, synthesis of data, evaluation, and management processes in internal auditing to develop creative responses to problems and issues identified.
8. Develop and exhibit advanced skills to present and communicate professional or occupational ideas and texts effectively to a range of audiences.

The Associated Assessment Criteria will assess the Exit Level Outcomes in an integrated manner

• Understand, interpret, prepare, apply and present reports (e.g. financial statements, investments, borrowing costs and grants) in compliance with policies, ethics, governance processes and frameworks, law and regulations.
• Apply financial accounting concepts (e.g. employee benefits, foreign currency, hedge accounting, and earnings per share, financial instruments, investment and liquidation, risk) effectively and efficiently within diverse entities.
• Engage and execute various audit activities and actions (e.g. e-commerce, forensic, corporate governance, environmental, risk based) to address organisational design, dynamics, complexities and sustainability faced by contemporary organisations.
• Conduct forensic audits and investigations (e.g. fraud and fraud taxonomies, cybercrime, theft, embezzlement, schemes and misappropriation of assets and funds, profiling fraudsters) by applying forensic auditing principles, practices and strategies with insight into the business cycles.
• Develop, apply and manage internal auditing risk management and assessment checklists, models and detection/prevention measures and methods, as well as a compilation of reports (verbal or written format).
• Take personal ownership of the changing role of the internal auditor (e.g. self-directed and self-managed ability to take full responsibility for own work, decision-making and use of resources) within the organisation.
• Conduct scientific research within the field of internal auditing to develop creative responses to problems and issues identified.
• Communicate effectively on a contemporary discourse on internal auditing topics found in appropriate academic, professional or occupational literature, ideas and opinions in well-formed arguments both in an oral or written format directed at reaching a broad audience.

Integrated Assessment

Use summative, formal, and informal assessment strategies in this qualification. Informal assessments typically include discussions, quizzes, feedback sessions, and peer assessments, among others. Formal assessments include class and semester tests, presentations and assignments. Summative assessments will typically include but are not limited to, semester tests, examinations, portfolios or a proposal with regards to the research project. Per the institution's assessment policy, learners are allowed a second examination opportunity, regardless of their results in the main examination (1st opportunity). All assessments are at the appropriate NQF level (in this case, NQF Level 8).