All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |
SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: |
Apply principles of risk management to manage and report risk situations |
SAQA US ID | UNIT STANDARD TITLE | |||
119349 | Apply principles of risk management to manage and report risk situations | |||
ORIGINATOR | ||||
SGB Public Administration and Management | ||||
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | ||||
- | ||||
FIELD | SUBFIELD | |||
Field 03 - Business, Commerce and Management Studies | Public Administration | |||
ABET BAND | UNIT STANDARD TYPE | PRE-2009 NQF LEVEL | NQF LEVEL | CREDITS |
Undefined | Regular | Level 5 | Level TBA: Pre-2009 was L5 | 8 |
REGISTRATION STATUS | REGISTRATION START DATE | REGISTRATION END DATE | SAQA DECISION NUMBER | |
Passed the End Date - Status was "Reregistered" |
2018-07-01 | 2023-06-30 | SAQA 06120/18 | |
LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
2026-06-30 | 2029-06-30 |
In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. |
This unit standard does not replace any other unit standard and is not replaced by any other unit standard. |
PURPOSE OF THE UNIT STANDARD |
Learners working towards this standard will be working within a Public Sector environment, specialising in Public Finance Management and Administration, where the acquisition of competence against this standard will add value to one's job. This standard will also add value to public officials who are seeking to develop a career pathway towards becoming an accomplished public finance management and administration specialist.
The qualifying learner is capable of: |
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
Learners accessing this Unit Standard must be in possession of a Further Education and Training Certificate or equivalent qualification |
UNIT STANDARD RANGE |
N/A |
Specific Outcomes and Assessment Criteria: |
SPECIFIC OUTCOME 1 |
Explain the concept of risk in a public sector financial administration environment. |
OUTCOME RANGE |
Factors that influence the level of risk include but are not limited to timing, term, type of instrument and nature of market |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The concept of risk in a public sector financial administration environment is explained |
ASSESSMENT CRITERION 2 |
The role of the governing body in the design and implementation and monitoring of a risk management system is explained |
ASSESSMENT CRITERION 3 |
Risk response and risk structures are explained |
ASSESSMENT CRITERION 4 |
Responsibilities, functions and qualities of internal auditor are explained in relation to the need to strengthen the internal risk control system |
ASSESSMENT CRITERION 5 |
Methods of risk assessment within the public sector financial administration environment are identified and explained |
ASSESSMENT CRITERION 6 |
The different methods for avoiding and managing risks and safeguarding assets are identified and explained |
SPECIFIC OUTCOME 2 |
Apply the principles of risk to make a financial decision. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The risk of a specific financial option is analysed and quantified in order to explain the consequences of a financial decision |
ASSESSMENT CRITERION 2 |
The probability of gain or loss is explained in relation to the particular option |
ASSESSMENT CRITERION 3 |
Possible options to reduce risk are explored and a strategy is developed that could eliminate or reduce a specified risk |
ASSESSMENT CRITERION 4 |
Proposed alternatives options are analysed |
ASSESSMENT CRITERION 5 |
Internal controls and the role they play in ensuring the effectiveness of accounting and risk management systems are explained |
ASSESSMENT CRITERION 6 |
Appropriate instruments of internal control are reviewed, compared and explained |
SPECIFIC OUTCOME 3 |
Determine risk assessment. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The relationship between risk and return is determined by comparing the accepted accounting definitions of risk and return |
ASSESSMENT CRITERION 2 |
Business and financial risk are described applied according to the accepted notions of business and financial risk within the public sector financial administration context |
ASSESSMENT CRITERION 3 |
A comparison between unsystematic risk and systematic risk is made based on specific circumstances |
ASSESSMENT CRITERION 4 |
Returns are determined according to GAAP/GRAP |
SPECIFIC OUTCOME 4 |
Analyse the effect of selected scenarios on a potential risk. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
Broad categories of risk are described with reference to strategic, operational, technology and insurable risk |
ASSESSMENT CRITERION 2 |
Knowledge of events in the macro environment is applied in order to initiate the formulation of potential risk scenarios |
ASSESSMENT CRITERION 3 |
Potential risk scenarios are identified and contextualized within the public sector financial administration environment |
ASSESSMENT CRITERION 4 |
Appropriate methods of risk assessment are implemented in relation to selected scenarios |
ASSESSMENT CRITERION 5 |
The advantages and disadvantages of the various scenarios are debated and the range of scenarios evaluated against the criteria and ranked for best fit |
ASSESSMENT CRITERION 6 |
Recommendations to improve the control of operating activities and resources are understood and implemented in the context of a computerized information system |
UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS |
1. Any individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
2. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA. 3. Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA. 4. Moderation of assessment will be conducted by the relevant ETQA at its discretion. |
UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE |
The learner must demonstrate an understanding of:
|
UNIT STANDARD DEVELOPMENTAL OUTCOME |
N/A |
UNIT STANDARD LINKAGES |
N/A |
Critical Cross-field Outcomes (CCFO): |
UNIT STANDARD CCFO IDENTIFYING |
Identify and solve problems using critical and creative thinking processes to interpret the South African Constitution, legal system and legislative regulations impacting on the public sector financial management context |
UNIT STANDARD CCFO WORKING |
Work effectively with others as a member of a team, group, organization or community to assess potential risk scenarios |
UNIT STANDARD CCFO ORGANISING |
Organise and manage oneself and one's activities responsibly and effectively in order to ensure that risk is proactively managed |
UNIT STANDARD CCFO COLLECTING |
Collect, analyse, organize and crtically evaluate information in order to assess risk and determine returns |
UNIT STANDARD CCFO COMMUNICATING |
Communicate effectively using visual, mathematical and/or language in the modes of oral and/or written persuasion to source data to determine risk decisions |
UNIT STANDARD CCFO SCIENCE |
Use science and technology effectively and critically, showing responsibility to the environment and health of others in ensuring that risk probability factors are effectively determined |
UNIT STANDARD CCFO DEMONSTRATING |
Demonstrate an understanding of the world as a set of interrelated systems by recognising that problem-solving contexts do not exist in isolation in apply knowledge of events in the macro environment to formulate potential scenarios and explaining the potential impact on anticipated outcomes |
UNIT STANDARD CCFO CONTRIBUTING |
Participating as responsible citizens in the life of local, national and global communities by analysing all aspects of potential risk |
UNIT STANDARD ASSESSOR CRITERIA |
N/A |
REREGISTRATION HISTORY |
As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. |
UNIT STANDARD NOTES |
N/A |
QUALIFICATIONS UTILISING THIS UNIT STANDARD: |
ID | QUALIFICATION TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | STATUS | END DATE | PRIMARY OR DELEGATED QA FUNCTIONARY | |
Core | 49554 | National Diploma: Public Finance Management and Administration | Level 5 | NQF Level 05 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | LG SETA |
Elective | 65649 | National Certificate: Official Statistics | Level 5 | Level TBA: Pre-2009 was L5 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | PSETA |
PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: |
This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here. |
1. | A4 Consultancy CC |
2. | Abacwaningi Business Solutions |
3. | Amabamba Recruitment |
4. | AVAX SA 481 CC. T/A Mandisa Development Services |
5. | Buena Vista Learning Academy |
6. | Edequette Training Institute |
7. | Excellent Minds Institute (Pty) Ltd |
8. | Giamanje TVET College |
9. | Growth Management Consulting |
10. | Hamonate Consulting |
11. | IQ Skills Academy (PTY) LTD. |
12. | Jobafrik Consulting |
13. | Josmap Training Institute |
14. | KOKANO PROJECTS PTY LTD |
15. | KYM MANAGEMENT CONSULTING |
16. | Lewerb Holdings (PTY) Ltd |
17. | Mafamawethu Consultants |
18. | Makoti Skills Development Solutions |
19. | Mamuhle Academy |
20. | MANCOSA Pty (Ltd) |
21. | Maritime Business Institute |
22. | MARS Business Consulting |
23. | MATEPE INVESTMENTS (PTY) LTD |
24. | Morar Incorporated - KZN |
25. | Mortarboard Training Solutions |
26. | MTK Corporate Solutions |
27. | Ndwamato Training Solutions (Pty) Ltd |
28. | Nemalale Eagles Consultancy CC |
29. | Pachedu Skills Solutions |
30. | Pachi Global Foundation |
31. | Pebetse Training and Consulting |
32. | Petra Institute of Development |
33. | PFIM Trading (Pty) Ltd |
34. | PMA Holdings (PTY ) LTD. |
35. | Progressive School of Business and Engineering (Pty) |
36. | PTDEV (Pty) Ltd |
37. | Reflections Development Institute |
38. | Regent Business School (Pty) Ltd t/a Regent Business School |
39. | Resonance Institue of Learning |
40. | Silalele Consulting CC. |
41. | Siletha Consultant |
42. | Siza Nesu Training and Consultants |
43. | South African Corporate Training Association |
44. | Tachfin Holdings |
45. | Tasc Business Consulting and Training |
46. | Tloumogale Business Development & Consulting |
47. | Transafric Consulting Pty Ltd |
48. | Tshepang Consulting & Project |
49. | TWINMARK STRATEGY AND MANAGEMENT CONSULTANTS |
50. | Umqondo Consultancy |
51. | UNIVERSITY OF BUSINESS EXCELLENCE(PTY)LTD |
52. | University of Pretoria |
53. | University of Venda |
All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |