Masters of Philosophy (MPhil) (INTERNAL AUDITING) Enhance your career and become a World-Class Internal Auditor at a Centre of Excellence

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1 Department of Auditing Masters of Philosophy (MPhil) (INTERNAL AUDITING) Enhance your career and become a World-Class Internal Auditor at a Centre of Excellence In co-operation with the Gordon Institute of Business Science (GIBS) and Erasmus School of Accounting and Assurance (ESAA) in the Netherlands in presenting a postgraduate qualification In association with Absa

2 Why an MPhil in Internal Auditing? The role of internal auditors has increasingly come into focus as stakeholders are putting more pressure on organisations to optimise performance and ensure sustainable business success. In addition, regulatory and legal requirements in the private and public sectors are prescriptive, particularly regarding the need for improved corporate governance. This has led to the increased demand for professional internal auditors world wide, especially at a senior level where individuals are required to not only be super internal auditors, but to hold their own in various other spheres within the organisation. The Institute of Internal Auditors (IIA Inc) is the international professional body representing the internal audit profession and is based in Florida in the United States of America (USA), with an affiliated Institute in Johannesburg, South Africa, the IIA (SA). The Certified Internal Auditor (CIA) qualification is the highest professional internal audit qualification in the world. The IIA has experienced tremendous growth in member numbers as well as in the number of members qualifying as CIAs globally. In South Africa, there is an increased demand, which surpasses the supply for knowledgeable, skilled and experienced professional internal auditors in the field of governance, risk and control. To address this need, the IIA (SA) has revisited the career path for internal auditors, highlighting the need for senior internal auditors increased level of competency.

3 The IIA Internal Auditing Educational Partnership Programme (IAEP) at the University of Pretoria (UP) The internal audit programme at UP has been accredited as a centre of excellence in the IIA Inc s Internal Auditing Educational Partnership (IAEP) programme one of only five in the world. The internal audit education programmes at UP are also supported by the IIA (SA) which plays an active role in advocating the internal audit profession. The MPhil (Internal Auditing) builds on this programme, offering a world-class postgraduate degree for senior internal auditors. In cooperation with the Gordon Institute of Business Science (GIBS), an institution ranked high on the worldwide list of business schools, and the Erasmus School of Accounting and Assurance (ESAA), part of Erasmus University, in Rotterdam, the Netherlands, also a Centre for Internal Audit Excellence, UP is proud to offer the first master s programme in internal auditing in South Africa that is aimed at a global audience. Some important facts to note : Entrance to the programme is based on internal audit experience, and the tertiary and professional qualifications of each individual. A multi-disciplinary approach will be followed due to the diverse nature and applicability of internal auditing. Therefore individuals from all backgrounds working in internal auditing will be considered. The programme will be offered on a part-time basis over a two-year period within four semesters. The education method will consist of a virtual classroom as well as contact sessions of two block sessions (Thursday Sunday) per semester. World-class subject experts will be co-presenting as guest lecturers. Contact sessions will be at either GIBS or UP (ESAA courses included) - see curriculum on the next page for an indication of which institution presents courses. Examinations will be in the format of case studies which will be assessed by practitioners. A research article has to be submitted during the final semester and be published in an accredited journal.

4 Course Structure Courses Internal Auditing Governance Industry-specific Knowledge (*) Risk Management Curriculum Description The discipline of internal auditing, managing the internal audit function within the organisation structure and environment, internal audit activities including the performing of engagements, new developments e.g. sustainability assurance, integrated reporting, combined assurance The governance of an organisation including issues such as ethics, legislation, sustainability, stakeholder relationships, and engagement Specific knowledge that the internal auditor should obtain to add value, e.g. banking industry includes investment banking, economics, and regulatory environment. Students can choose between three industries, namely: Public sector Financial services Other industries Risk management and the influence on the role of internal auditing, control as a governance mechanism (risk-based), the effect of risk management and control systems on internal auditing, the incorporation of risk-related issues into the internal audit function and internal audit engagement Core/ Elective C 15 UP GIBS ESAA TOTAL CREDITS FOR SEMESTER Information Technology (IT) Auditing IT governance, strategic planning, infrastructure and emerging technologies, advanced CAATTs, knowledge management and decision making C 15 Financial Management and Analysis Project Management Strategic Management Advanced forecasts, valuations, financial analysis and interpretation to identify weaknesses, audit engagement focus areas and fraudulent activities Managing an internal audit function and internal audit engagement as a project (incl. time management) Performance management, strategic management concepts, strategy mapping and implementation TOTAL CREDITS FOR SEMESTER Business Communication Advanced communication techniques incl. verbal and written, other topics such as presentation skills, conflict management, business report writing, interpreting external audit reports, management reports and management strategy Organisational Behaviour / The internal auditor within the organisational environment, what Industrial psychology makes a good internal auditor / manager, people management, marketing the value of internal auditing Forensic Auditing Advanced forensic auditing E(**) 10 Operational/Performance Addressing the audit of business processes (including the 3 E s) E(**) 10 Auditing Research Methodology The study of research methodology C TOTAL CREDITS FOR SEMESTER Research Project Publish a research article in an accredited journal C TOTAL CREDITS FOR SEMESTER TOTAL CREDITS FOR THE DEGREE (*) Each student selects only one of these modules. (**) Each student selects only one of these modules.

5 Why study MPhil Internal Auditing at UP? The MPhil is the first course work master s specialising in the field of internal auditing in South Africa. To provide a quality learning experience for students, the programme will only take in fifty students. Successful candidates will receive expert training from some of the best South African and European internal auditors and business academics. Students will be part of the Faculty of Economic and Management Sciences that is committed to deliver not only competent, but also creative, responsible and productive citizens The future business leaders. The Department of Auditing takes responsibility for the internal audit programmes that are offered by a professional, highly-qualified team of lecturers. An outcomes-based learning approach is used emphasising competency and focusing on knowledge, skills and the attitude of the learners. The IAEP programme is locally relevant and internationally competitive and aspires to provide a superior level of internal audit education that equips internal audit students with the competencies and ability to significantly contribute to the enhancement of the internal audit profession and all its stakeholders. Who do I contact? For more information and to obtain application forms contact the: Client Service Centre Tel (012) csc@up.ac.za Department of Auditing Ms Rika Grobler Administrative Assistant: IAEP Centre for Internal Audit Excellence Tel (012) Fax (012) rika.grobler@up.ac.za or Prof Philna Coetzee Coordinator: IAEP Centre for Internal Audit Excellence Tel (012) Fax (012) philna.coetzee@up.ac.za Or Website: (see academic departments Auditing)

6 Universiteit van Pretoria University of Pretoria Yunibesithi ya Pretoria Privaatsak/Private Bag/Mokotla wa Poso X20 Hatfield 0028 Suid-Afrika/South Africa/Afrika Borwa Tel: Faks/Fax/Fekse: