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CA2025 competency catalogue
13 areas, 54 sub-areas, 317 learning outcomes. This is the target every task gets mapped onto.
The 94 values, attitudes and acumens come from SAICA's January 2022 guidance, with wording updated where the live assessment tool differs. The 223 technical competencies come from the September 2021 structure document. Your training office's Integrated Exposure Plan covers only some of the technical ones.
I. Ethics, Values and Attitudes
I1 Personal Ethics
| I1.a | Act honestly and demonstrate personal integrity, accountability and trustworthiness INCLUDING while interacting with others | L3 |
| I1.b | Carry out work in a manner that protects public interest, the client, employer and other relevant stakeholders, and put these before your own interest. | L3 |
I2 Business ethics
| I2.a | Consider the impact of ethics within a specific business environment (a client or your training office) AND evaluate how ethics is managed in that context | L3 |
| I2.b | Demonstrate how you contributed to the ethical culture of your business environment | L3 |
| I2.c | In the context of ethical dilemmas that arise relating to organisational ethics and corporate culture or when rendering professional services, use an ethical reasoning process (based on professional values and attitudes and the code of professional conduct) to - (i) Identify threats to ethical principles, AND (ii) Analyse all courses of potentially unethical action as well as the consequences of each, AND (iii) Choose the appropriate course of action to solve the dilemma, AND (iv) Report ethical issues to higher levels of management, SAICA, legal or regulatory authorities, or others WHEN NECESSARY | L3 |
| I2.d | Display ethical behaviour whilst interacting with the organisation’s stakeholders | L3 |
I3 Professional ethics
| I3.a | Apply the following fundamental ethical principles when rendering services: (i) integrity, and (ii) objectivity, and (iii) professional competence and due care, and (iv) confidentiality and (v) professional behaviour (including personal branding, business etiquette and use of communication channels such as social media and the ability to control and express emotions appropriately). Remember to clearly identify which fundamental principle is being demonstrated through the evidence you are submitting. | L3 |
| I3.b | By way of general conduct, demonstrate a commitment to the ethical values upheld by the profession | L3 |
II. Citizenship, Values and Attitudes
II1 Personal citizenship
| II1.a | Demonstrate a responsive, valuing and tolerant approach to diversity (local or global) AND individual differences | L3 |
| II1.b | Describe the impact you have made on the community in which you live and work, through e.g. acts of philanthropy, social responsibility and environmental stewardship. | L3 |
II2 Corporate citizenship
| II2.a | Identify relevant stakeholders in your business environment (for either a client or your training office) | L3 |
| II2.b | For a business decision, weigh up the short-term financial benefits of that decision against its long-term strategic and/or societal impact (sustainability). | L2 |
| II2.c | Evaluate the extent to which a business demonstrates a responsive, valuing and tolerant approach to cultural diversity and individual differences | L3 |
| II2.d | Consider the degree to which an organisation's (the training office or a client) strategy and/or business model aligns with the 17 SDGs (the Sustainable Development Goals as published by the United Nations) | L2 |
| II2.e | Contribute to the community at large through, for example, acts of philanthropy, social responsibility and environmental stewardship | L2 |
II3 Professional citizenship
| II3.a | Perform work in a manner that protects the public interest. | L3 |
| II3.b | Evaluate the impact of an action taken by a professional individual (yourself or someone else), on the profession and on society. | L2 |
III. Lifelong Learning Values and Attitudes
III1 Self-development
| III1.a | Demonstrate life-long learning by staying abreast of current trends and emerging issues OR by acquiring new knowledge, skills and experiences to remain relevant, INCLUDING in relation to digital developments | L3 |
| III1.b | Demonstrate responsibility for your own development needs and opportunities AND set and monitor personal learning and development objectives | L3 |
III2 Adaptive mind-set and agility
| III2.a | Acquire new knowledge, skills and experiences to remain relevant and find opportunities to empower others by transferring this knowledge, skills and experience to others | L3 |
| III2.b | Work in an agile way by adapting and responding to changing practices, management and leadership styles, cultures, roles and /or work contexts | L3 |
Z. Business Acumen
Z1 Business internal environment
| Z1.a | Evaluate whether the business model of a client or your training office is primarily driven by business success (e.g. profitability, cash flow and market orientation) or by value creation (with reference to the six capitals). | L3 |
| Z1.b | Distinguish between different types of entities (profit, non-profit and public sector) and the roles they play in society. | L3 |
| Z1.c | Evaluate how an organisation creates value through the business model. | L3 |
| Z1.d | Consider how an organisation creates value through its business model INCLUDING specific reference to its use of the six capitals referred to in the King IV report (Financial, Manufactured, Intellectual, Human, Social and Relationship and Natural) | L3 |
| Z1.e | Use a holistic perspective to analyse an organisation’s business processes (including how it serves stakeholders such as customers, employees, surrounding community and investors). | L3 |
Z2 Business external environment
| Z2.a | Evaluate the influence of the external environment (political, economic, tax policy, social, technological, legal and environmental) AND / OR industry factors (competitive advantage and threats, industry trends, emerging technology/industry disruptors, market opportunities, stakeholder focus) on an organisation's strategy, business model or processes | L2 |
| Z2.b | Evaluate the influence of the external environment (political, economic, tax policy, social, technological, legal, and environmental) on an organisation’s strategy, business model or processes. | L2 |
| Z2.c | Use a broad perspective (taking into account, for example, competitive advantage and threats, industry trends, emerging technology/industry disruptors, market opportunities, stakeholder focus) together with an organisation’s mission/strategy, to evaluate an organisation’s business model. | L2 |
Z3 Innovation and creativity
| Z3.a | Identify the need to address a problem or situation from a fresh perspective and challenge existing paradigms and ways of doing business AND / OR describe an innovative solution you came up with to address a business problem AND how you implemented this solution | L2 |
| Z3.b | Describe an innovative solution you came up with to address a business problem and how you implemented this solution. | L1 |
| Z3.c | Empower and develop others by acting as a role model and by providing advice, support and mentorship. | L1 |
Y. Decision Making Acumen
Y1 Critical thinking
| Y1.a | Select and manage information (quantitative as well as qualitative) from multiple sources and perspectives through research, analysis, synthesis and integration. | L3 |
| Y1.b | Use critical thinking to identify and question/challenge information or assumptions and potential bias behind received, discovered or researched information. | L3 |
| Y1.c | Use critical analysis and reasoning to uncover key and/or underlying issues, and/or identify connections or patterns across diverse situations | L2 |
Y2 Integrated thinking
| Y2.a | Synthesise and make sense of ideas and information from a variety of sources to analyse and evaluate financial or non-financial information, create a design, formulate a plan, arrive at a viable solution to a problem, OR obtain a broader understanding of an issue, etc. | L3 |
| Y2.b | Use the above in the interpretation, analysis and evaluation of financial and non-financial information for decision-making. | L2 |
Y3 Problem Solving
| Y3.a | Use a questioning mind-set during problem identification, analysis and resolution. | L3 |
| Y3.b | Seek assistance from experts/specialists OR consult with others to obtain information, solve problems, maximise benefits from opportunities, expedite problem-solving, decision-making and/ or reach conclusions | L3 |
Y4 Judgement and decision-making
| Y4.a | Only exercise judgement and make decisions based on sound and logical reasoning in collaboration with affected stakeholders. | L3 |
| Y4.b | Determine for alternative courses of action: (i) likely outcome, AND (ii) apparent effectiveness of addressing the root causes of problems, AND (iii) feasibility of effective implementation, AND (iv) stakeholder support for effective implementation, AND (v) ranking in relation to the other identified courses of action AND then, having done this, select the most appropriate course of action. | L3 |
| Y4.c | Use evidence, experience and technical competencies to solve problems or make insightful decisions through an interrelated process. | L3 |
Y5 Professional scepticism
| Y5.a | Apply a diligent and impartial mind-set when making decisions, making enquiries or questioning others | L3 |
X. Relational Acumen
X1 Communication skills
| X1.a | Apply effective listening, interviewing AND/OR discussion techniques to obtain and clarify relevant information | L3 |
| X1.b | Communicate verbally using clear and concise messaging that is professional, appropriate to the audience and situation, AND considers cultural and language differences (where necessary). Or Communicate in writing using clear and concise messaging that is professional, appropriate to the audience and situation, considers any legal, ethical, regulatory and business requirements (where appropriate), AND considers cultural and language differences (where necessary). Take care to indicate clearly whether your evidence relates to verbal communication or to written communication. | L3 |
| X1.c | Present information appropriately to improve your audience’s processing and digesting of that information. | L3 |
| X1.d | Prepare written correspondence following due processes considering any legal, ethical, regulatory and business requirements. | L3 |
| X1.e | Display awareness of language differences in all cross-cultural communication. | L3 |
X2 Leadership skills
| X2.a | Motivate and facilitate others’ efforts to excel. | L2 |
| X2.b | Proactively influence others to deliver high quality work that supports organisational goals through role-modelling of appropriate behaviour, providing training, advice, support and/or mentorship; and/or by transferring knowledge, skills and experience | L2 |
| X2.c | Empower and develop others by acting as a role model and by providing training, advice, support and/or mentorship. | L2 |
| X2.d | While leading OR managing others, treat them respectfully, courteously and equitably | L3 |
X3 People skills
| X3.a | Display personal influence AND / OR negotiation skills to persuade others and/or build consensus | L3 |
| X3.b | Display conflict resolution skills to minimise the impact of or resolve conflict. | L3 |
| X3.c | Consult with others to obtain information, solve problems and/or maximise benefits from opportunities. | L3 |
| X3.d | Display self-management skills to work independently, and to manage time and work pressure and its impact on others. | L3 |
| X3.e | Adapt to the different management and leadership styles and cultures of an environment. | L3 |
X4 Relationship-building skills
| X4.a | Seek opportunities to build strategic professional relationships (also cross-functional business partnerships) to achieve common goals. | L2 |
| X4.b | Identify AND apply strategies to proactively build relationships that extend professional networks, alliances and/or cross-functional business partnerships | L2 |
X5 Teamwork
| X5.a | Work effectively with others as a resourceful and trustworthy team member through sharing knowledge, cooperating and / or collaborating to achieve team goals | L3 |
| X5.b | Share knowledge and demonstrate cooperation and collaboration to achieve team goals (including interactions within and between multi-functional, multi-cultural and multi-disciplinary groups). | L2 |
| X5.c | Display effective delegation skills | L3 |
| X5.d | Manage conflict between individuals AND / OR across teams by: (i) Recognising constructive versus destructive conflict and managing that conflict; AND / OR (ii) Assuming shared responsibility for the outcome of conflict; AND / OR (iii) Valuing individual contributions by team members; AND / OR (iv) Providing constructive feedback (both downward and/or upward). | L3 |
| X5.e | Oversee team members' progress AND / OR performance in the context of tasks, plans, projects or operational activities | L3 |
X6 Self-management
| X6.a | Work independently, diligently and with persistence. | L3 |
| X6.b | Display time management techniques to allocate resources and to develop, organise and prioritise tasks (recognising their resource constraints) so as to achieve professional commitments/outcomes | L3 |
X7 Emotional intelligence
| X7.a | Understand and manage your own emotions in positive ways to communicate effectively, empathise with others, overcome challenges and / or defuse conflict. | L3 |
| X7.b | Display persistence, resilience and balance in pursuing goals despite obstacles and setbacks. | L3 |
W. Digital Acumen
W1 Computational thinking
| W1.a | Decompose a problem into smaller sub-problems AND then find patterns (similarities, shared characteristics) among the sub-problems AND determine relevant characteristics AND / OR discard irrelevant characteristics | L3 |
| W1.b | Find patterns (similarities, shared characteristics) among the sub-problems. | L3 |
| W1.c | Determine relevant characteristics and discard irrelevant characteristics. | L3 |
| W1.d | Write an algorithm to solve a problem, using any programming language (such as Microsoft VBA, Python) OR evaluate the appropriateness of a presented algorithm to solve a problem | L3 |
| W1.e | Evaluate the appropriateness of a presented algorithm to solve a problem. | L3 |
W2 Data knowledge and strategy
| W2.a | Interpret underlying characteristics of basic data concepts (such as data structures, data files, databases, normalisation of data and metadata), taking cognisance of how these influence and interact with one another. | L2 |
| W2.b | Identify and evaluate sources of data (financial and non-financial, structured and unstructured). | L2 |
| W2.c | Access and store data (e.g., own location, service provider, cloud, etc.). | L2 |
| W2.d | Evaluate the risks compliance requirements and consequences associated with the specific environments in which data is stored (including geographical legal restrictions in some areas (e.g., POPI in SA, GDPR). | L2 |
| W2.e | Identify and distinguish between the ways in which access to data should be controlled (data classification) and determine the consequent risks if the necessary controls are not implemented. | L2 |
| W2.f | Identify and distinguish between the ways in which local data and data-in-transit should be controlled (including data in transit between systems, and the interfaces involved in the process), and determine the risks (including not reaching a business objective) if the necessary controls are not implemented. | L2 |
| W2.g | Evaluate data strategies or policies that deal with data protection, privacy, intellectual property rights, legal and regulatory requirements, AND / OR ethical issues in data management, data storage, or data transfer. | L2 |
W3 Data analytics
| W3.a | Identify the practical challenges of data analytics (e.g., data volume and quality, and privacy, regulatory and ethical issues). | L3 |
| W3.b | Use processes of inspection, extraction, transformation, loading, modelling, and interpreting data (through the use of data analytic software tools such as ACL, IDEA, PowerBI, or advanced Excel functions) to solve a defined business or audit problem | L3 |
| W3.c | Use data analytic software tools to analyse data (e.g., ACL, IDEA, advanced Excel™ functions). | L3 |
| W3.d | Interpret the results to solve a defined business or audit problem and suggest further steps to be taken. | L3 |
W4 Automation
| W4.a | Identify opportunities to automate AND / OR modernise processes AND evaluate the benefits and risks associated with this. | L2 |
| W4.b | Evaluate the need for cognitive computing systems in the automation process. | L2 |
W5 New developments and protocols
| W5.a | Identify opportunities to use new developments and protocols to address accounting and business problems, limitations, risks, etc. | L2 |
| W5.b | Apply, in a non-complex simulation with semi-structured information general, application and data controls to selected new developments and protocols in order to mitigate risks. | L2 |
W7 User competencies
| W7.a | Apply word processing software skills in a manner relevant to an accounting/business context, to enhance communication (e.g., letters, memorandums, reports, working papers, and other written correspondence), so as to meet all legal, ethical, regulatory and business requirements | L3 |
| W7.b | Apply visualisation techniques and tools (e.g., dashboards or presentation software) in an accounting/business context | L3 |
| W7.c | Use spreadsheet software in an accounting/business context utilising advanced excel functions such as more complex formula, short cut keys, macros, or pivot tables for example. | L3 |
| W7.d | Communicate and collaborate with others using a wide range of digital devices, technologies and platforms | L3 |
| W7.e | Apply visualisation techniques and tools to develop simple dashboards. | L3 |
| W7.f | Apply cybersecurity processes, tool AND / OR techniques to secure and safeguard information technology resources such as organisational IT infrastructure, laptops (and other portable devices), software, cloud (and other) storage, AND / OR data | L3 |
A. Strategy and governance to create sustainable value
A1 Governance model
| A1.1 | Use different worldviews and theoretical underpinnings to interpret key stakeholder roles and responsibilities (agency theory, shareholder/stakeholder theory, Ubuntu) | L? |
| A1.2a | Evaluate governance structures and practices of the organisation in terms of King IV (and successors) and relevant laws (e.g., Companies Act, 2008,) and regulations | L? |
| A1.2b | Evaluate the governance structures and practices of organisations other than profit companies in terms of King IV (and successors) and relevant laws (e.g. PFMA) and regulations | L? |
| A1.2c | Analyse ways to align the governance structures and practices with the overall purpose of a profit company | L? |
| A1.2d | Analyse ways to align the governance structures and practices with the overall purpose of organisations other than profit companies | L? |
| A1.3a | Assess the effectiveness of the internal audit function with reference to its status and scope, and whether reported findings are acted upon | L? |
| A1.3b | Evaluate the participation of internal audit in an organisation's combined assurance process | L? |
| A1.4 | Understand the IT governance structures and practices of the organisation | L? |
A2 Business strategy
| A2.1a | Following a multi-capital management approach, analyse and align the overall purpose of an organisation (to provide sustainable value to the organisation and its stakeholders) with its context , vision, mission, values, and mandates | L? |
| A2.1b | Facilitate and advise on the strategy development process of the organization | L? |
| A2.1c | Review key stakeholder roles and responsibilities in the organisation's business plan and the execution of its business strategy | L? |
| A2.1d | Review the organisation's strategic direction and highlight areas of potential value and risk | L? |
| A2.2a | Assess the contextual influencers on an organisation's external and internal environment (also taking into account economic, industry, competition, market, social, natural, technology and political spheres) by using relevant strategic analysis tools, frameworks and models | L? |
| A2.2b | Understand and review the impact of organisational internal factors (e.g., tone of the leadership, human resources policies, personnel selection and development, remuneration strategies, management/trade union relationships) on the organisation's strategy | L? |
| A2.2c | Review the impact of events and activities related to the organisation's context on the business strategy | L? |
| A2.2d | Identify and evaluate significant opportunities and risks associated with the organisation's external and internal environments | L? |
| A2.3a | Review context relevant models to appraise the organisation's capabilities to achieve the business strategy and purpose | L? |
| A2.3b | Identify and evaluate significant business risks, strengths, weaknesses, opportunities and threats associated with the organisation's external and internal environments | L? |
| A2.3c | Prepare a strategic response to the organisation's competitive environment by applying strategic analysis tools to identified external and internal factors | L? |
| A2.3d | Assess the risk tolerance of the entity's stakeholders' and its balance with opportunity | L? |
| A2.3e | Identify priorities and actions either to mitigate critical risks or capitalise on opportunities | L? |
| A2.3f | Formulate insights into future opportunities and risks | L? |
| A2.4a | Review the organisation's overall IT and data strategy (e.g., data quality, accessibility, interoperability and compliance with standards) | L? |
| A2.4b | Analyse the organisation's business strategy, business model and IT in terms of its data strategy and objectives | L? |
| A2.4c | Formulate recommendations on the organisation's existing IT and data strategy | L? |
A3 Aligning the business model with the business strategy
| A3.1a | Assess the business model of the organisation in terms of its key building blocks | L? |
| A3.1b | Consider and apply different perspectives to evaluate the organisation's business model (e.g., risk, innovation, investment, etc.) | L? |
| A3.1c | Assess the organisation's business model as a vehicle for the implementation of its business strategy | L? |
| A3.1d | Assess the organisation's business model as a vehicle for long-term value creation for stakeholders | L? |
| A3.2a | Assess the effectiveness or threat of disruptive business models | L? |
| A3.2b | Assess the organisational pursuit of, and responses to disruptive business models | L? |
| A3.3a | Evaluate how management changes impact on business strategy, other strategic plans, business plans and functional plans | L? |
| A3.3b | Use organisational behaviour theories to evaluate the impact of changed strategic decisions on the performance of the organisation, divisions, teams/groups and individuals | L? |
| A3.3c | Use business objectives to monitor, evaluate and report on the progress and success of strategic change initiatives | L? |
| A3.3d | Evaluate the implementation processes of change management | L? |
| A3.3e | Identify and evaluate information that will help assess and manage the internal and external environment | L? |
| A3.3f | Identify and evaluate significant environmental trends as well as legitimate needs and expectations of stakeholders and assesses their implications for the entity in meeting its overall objectives | L? |
| A3.3g | Identify the entity's material impact on environmental, economic and social systems and consequently identifies any risks relating to the entity's continuity | L? |
| A3.4a | Evaluate different growth strategies (e.g., organic, mergers and acquisitions, joint ventures, strategic alliances, divestment decisions) which the organisation could implement, taking cognisance of its overall objectives and the creation of value | L? |
| A3.4b | Analyse stakeholder profiles to identify potential strategic alliances and partnerships | L? |
| A3.4c | Evaluate stakeholder potential to achieve and improve joint efficiencies. | L? |
A4 Finance strategy
| A4.1 | Evaluate the organisation's finance plan in the context of its business needs, overall finance strategy and business strategy | L? |
| A4.2 | Identify and analyse environmental factors (e.g., financial markets (national and global) and other relevant factors (refer to A2.2)) to determine the influence thereof on the finance strategy of the organisation | L? |
| A4.3a | Assess models used to appraise the organisation's finance strategy; ensure that it is aligned with the organisation's value creation objective, supports business need and ensures appropriate resources are allocated | L? |
| A4.3b | Advise on appropriate finance strategy, including value creation for stakeholders | L? |
A5 Tax strategy
| A5.1a | Identify the tax strategy of the business and explain how the organisation's entity's internal and external environments influence the tax strategy of a business | L? |
| A5.1b | Explain the tax implications of various legal forms and business structures and of self-employment vs employment status | L? |
| A5.2a | Identify tax risks associated with the entity's external and internal environments | L? |
| A5.2b | Explain the relevant anti-avoidance legislation provisions including possible consequences of tax avoidance and tax evasion legislation | L? |
| A5.2c | Identify when to seek assistance from tax experts to expedite problem-solving, decision-making and/ or reaching conclusions on tax matters | L? |
| A5.2d | Explain understatement and administrative non-compliance penalties and calculate interest levied on late or under payment of taxation | L? |
| A5.2e | Explain the potential consequences of the non-compliance with tax legislation, the evasion of tax or obtaining undue refunds by fraud, or unauthorized filing of a return on behalf of a third party | L? |
| A5.3 | Explain the social contract between a citizen and the state framing the moral and legal responsibilities to contribute to the tax revenue of the state. | L? |
B. Stewardship of capitals: business processes and risk management
B1 Reporting fundamentals
| B1.1a | Identify users' needs and develop a reporting approach by selecting suitable reporting and regulatory framework(s) which satisfies most users' needs in general purpose reporting by applying: (i) The fundamental theories related to reporting (ii) The objective, usefulness and limitations of the available reporting frameworks (iii) The objective, nature and characteristics of regulatory frameworks and requirements | L? |
| B1.1b | Apply the qualitative characteristics and principles of useful information | L? |
| B1.1c | Identify, define and evaluate appropriate reporting boundaries | L? |
| B1.1d | Identify, define and evaluate the different elements in reporting frameworks | L? |
| B1.1e | Apply the recognition and de-recognition criteria to an element | L? |
| B1.1f | Select and apply measurement criteria to an element | L? |
| B1.1g | Critically analyse and prepare presentation and disclosures for a selected framework and reporting boundary | L? |
| B1.1h | Explain the concepts of capital and capital maintenance | L? |
| B1.1i | Critically analyse and prepare non-GAAP disclosures in an ethical manner | L? |
| B1.1j | Explain and contrast the various formats of reporting | L? |
| B1.1k | Identify and explain emerging trends and forthcoming changes in financial and non-financial reporting | L? |
| B1.2a | Maintain an accounting information system that is manual, automated or a combination of both. | L? |
| B1.2b | Evaluate the effectiveness and efficiency of an entity's accounting information system with reference to its needs and objectives and advise on opportunities to improve an entity's system, particularly within the context of using automated technology solutions to improve the quality and efficiency of its functions | L? |
B2 Business systems and processes
| B2.1a | Assess whether an organisation's transactional business processes accurately report performance relative to stated objectives relative to stated objectives (e.g. sales growth; quality of stakeholder relationships, environmental matters, human capital issues): (i) Financial objectives (ii) Non-financial (e.g. human capital, environmental, operational and compliance) objectives | L? |
| B2.1b | Identify and evaluate the risks pertaining to the organisation's information system environment (hardware, software and networks) | L? |
| B2.1c | Design and evaluate internal controls for an organisation's transactional business processes (including digital technologies) to reduce business risks (relating to completeness, accuracy and validity of information) to an acceptable level: (i) Financial internal controls (ii) Non-financial (e.g. operational and compliance) internal controls | L? |
| B2.1d | Evaluate the design of internal controls for an organisation's transactional business processes (including digital technologies) to reduce business risks (relating to completeness, accuracy, validity and integrity of information) to an acceptable level: (i) Financial internal controls (ii) Non-financial (e.g. operational and compliance) internal controls | L? |
| B2.1e | Assess the effectiveness of the organisation's chart of accounts | L? |
| B2.1f | Review and analyse information and investigate possible signs of error, fraud and illegal acts (e.g., inconsistency of data, lack of completeness, unexpected trends) | L? |
| B2.1g | Describe possible IT and digital solutions to automate and improve existing processes and/or introduce new technologies by considering different alternatives, key factors and cost benefit implications | L? |
| B2.2 | Advise on the organisation's business processes, including account reconciliations and month-end closing, (such as receivables, accounts payable, inventory and production, human resources and payroll, investing and financing) | L? |
B3 Risk management and control
| B3.1a | Advise on the integration and standardisation of risk management processes across the organisation � consider the organisation's risk management philosophy, risk management strategy and risk management processes | L? |
| B3.1b | Use innovative/best practice approaches to managing significant business risks effectively and efficiently, such as an Enterprise Risk Management (ERM) framework | L? |
| B3.1c | Identify and assess the impact and likelihood of strategic, operational, financial and informational risks and opportunities to achieving business objectives (e.g., business sustainability and value creation over the short, medium and long term) | L? |
| B3.1d | Monitor changes in the organisation's risk environment to diagnose significant, unusual and emerging risks to which the business is exposed (use metrics such as key risk indicators) | L? |
| B3.1e | Identify effective controls or mitigation options for the organisation to manage risks, including unusual and emerging risks to which the business is exposed: (i) Financial risks and controls (ii) Non-financial (e.g., compliance and operational) risks and controls | L? |
| B3.1f | Analyse the possible consequences for the organisation of having an ineffective risk management programme and advise on improvements to controls or mitigation options to ensure appropriate risk responses for reasonably foreseeable emergency scenarios and events: (i) Financial risks, controls or other responses. (ii) Non-financial (e.g., compliance and operational) risks, controls or other responses | L? |
| B3.1g | Use risk reporting systems to communicate to others risk management process and results, including recommendations for improvement | L? |
| B3.2a | Assess the organisation's control frameworks and control policies across the organisation to determine effectiveness in achieving its business objectives and value creation: (i) IT general controls such as change management, access, computer operations, business continuity management and disaster recovery planning, systems development life cycle, cyber security (ii) IT application controls and the corollary impact on the organisations' reporting objectives (including risk of misstatements of account balances, class of transactions and disclosures.) | L? |
| B3.2b | Using the relationship between IT general controls, IT application controls and data controls, analyse and evaluate the effectiveness of controlling risks. Consider: (i) IT general controls such as change management, access, computer operations, business continuity management and disaster recovery planning, systems development life cycle, cyber security (ii) IT application controls and the corollary impact on the organisations' reporting objectives (including risk of misstatements of account balances, class of transactions and disclosures.) for financial information-related systems for non-financial information-related systems | L? |
| B3.2c | Assess the impact of IT application controls on data acquisition, processing (including adaptive processes) and reporting and decision making. | L? |
| B3.2d | Have an awareness that AI (refer to W3) can be implemented within an application as a control technique and ultimately should facilitate realistic continuous auditing | L? |
| B3.2e | Monitor compliance and effectiveness of controls (financial/operational/compliance), and develop solutions to improve the effectiveness of existing controls to manage business risks, including: (i) Financial related risks and controls. (ii) Non-financial (e.g., compliance and operational) risks and controls | L? |
| B3.3a | Design appropriate internal controls and evaluate the operating effectiveness of internal control, including the use of Computer Assisted Audit Techniques (CAATS) for all processes | L? |
| B3.3b | Advise on improvements of controls for all processes: (i) Financial controls. (ii) Non-financial (compliance and operational) controls | L? |
| B3.4 | Assess the organisation's combined assurance model to evaluate the effectiveness of the control environment in supporting the integrity of information, data and reporting | L? |
C. Decision-making to increase, decrease and transform capitals
C1 Performance measurement for management and other internal users of financial information
| C1.1a | Identify financial information that is relevant to decision-making regarding price setting and capacity utilisation | L? |
| C1.1b | Apply techniques (e.g., target costing, value analysis and the product life cycle) to create solutions on alternative pricing options and capacity utilisations, by taking into account the implications of existing constraints; contribution per limiting factor (theory of constraints); applicability of the principles of linear programming, and inter-relationships between constraints, where more than one constraint exists | L? |
| C1.1c | Advise on the financial impact of business decisions based on price setting and capacity utilisation | L? |
| C1.2a | Understand the budgeting and expenditure forecasting processes which translate the organisation's business strategy into financial targets and tactical plans and that can be executed in a risk-controlled manner | L? |
| C1.2b | Use effective and consistent modelling, planning and forecasting processes across business unit(s) to benchmark performance and trends for decision-making | L? |
| C1.2c | Analyse the organisation's actual performance (using financial and non-financial information) against the budgeting and expenditure forecasting information to interpret variances for decision-making | L? |
| C1.3a | Evaluate key business processes with regard to costs and income allocation to identify performance issues | L? |
| C1.3b | Evaluate costing methods (e.g., standard, marginal and absorption methods) to inform decision-making | L? |
| C1.3c | Interpret material, labour, variable/fixed overhead and associated variances to inform decision-making | L? |
| C1.3d | Evaluate how costing methods could be adapted to promote sustainability in the organisation's value creation process | L? |
| C1.3e | Apply an appropriate basis to allocate indirect costs across business units | L? |
| C1.3f | Evaluate an organisation's transfer pricing systems and the effects of transfer prices | L? |
| C1.4a | Perform sensitivity and scenario analyses on key variables affecting the financial outcome of the decision, and interpret the result of the calculation | L? |
| C1.4b | Incorporate the possibility of various outcomes into the decision-making process, including the use of probabilities and expected values | L? |
| C1.4c | Assess alternatives and recommend a course of action, considering both quantitative and qualitative factors, and whether the proposed decision is consistent with the organisation's strategic objectives and plans | L? |
C2 Financing decisions
| C2.1a | Provide advice on cash management processes (analyse and evaluate cash flow and working capital), to ensure financial risks are mitigated | L? |
| C2.1b | Develop strategies for managing and monitor the entity's working capital | L? |
| C2.1c | Interpret cash management solutions (including foreign currency cash flows) for the organisation's usual funding needs, also considering complex or unusual business requirements | L? |
| C2.1d | Assess alternative cash management solutions in the market and consider these in relation to the organisation's strategic objectives | L? |
| C2.2a | Demonstrate knowledge of basic corporate funding arrangements, including how measures in capital and money markets function | L? |
| C2.2b | Evaluate possible sources of funding available to the organisation taking into consideration its size and stage of development (e.g., crowd sourcing for start-up businesses) and identify the most appropriate sources of funding to achieve its business strategies and objectives, including value creation for stakeholders | L? |
| C2.2c | Recommend funding arrangements after consideration of related consequences, costs, benefits, implications for operational and future financing decisions and tax, and other legal implications | L? |
| C2.2d | Develop a financial proposal or financing plan that agrees with outcomes in the organisation's strategic objectives | L? |
| C2.3a | Analyse the manner in which an entity distributes cash or assets to shareholders by means of dividends or share buybacks | L? |
| C2.3b | Recommend the most appropriate method to distribute profits | L? |
| C2.4a | Use appropriate modelling techniques to estimate an organisation's cost of capital using an appropriate methodology | L? |
| C2.4b | Assess and consider an optimal capital structure for the organisation (quantitatively and qualitatively) by challenging shareholder models, and linking capital structures to value creation for stakeholders | L? |
C3 Investment decisions
| C3.1a | Appraise major capital expenditure and investment decisions using appropriate capital budgeting techniques (large complex projects and expenditure relating to e.g., property, plant and equipment, and research and development) | L? |
| C3.1b | Review investment appraisals in accordance with the strategic objectives of an organisation, including value creation for stakeholders and other non-financial considerations. | L? |
| C3.1c | To evaluate the alternatives for asset-specific finance: Analyse the cost of asset-specific finance such as a loan, instalment sale and lease, as alternatives to the organisation's usual method of financing acquisitions | L? |
| C3.1d | For investment appraisals with capital restriction: Assess ways in which capital rationing is managed (also consider complimentary investments vs mutually exclusive investments) in the context of the organisation's capital investment plan | L? |
| C3.2a | Analyse the organisation's capital allocation process for alignment with its strategic objectives, including value creation | L? |
| C3.2b | Interpret the available methods of capital allocation (mergers and acquisitions, investment in organic growth, repurchase shares, pay down debt and pay dividends) for the organisation to inform decision-making | L? |
C4 Use of derivatives
| C4.1a | Review treasury risk management policies, specifically those related to financial risk (e.g., hedging policy, investment policy, and insurance coverage) | L? |
| C4.1b | Identify and evaluate the significant financial risks within an organisation, including interest rate risks, foreign exchange risks, funding risk and commodity risks | L? |
| C4.1c | Assess changes in the macroeconomic environment and changes within the organisation, and evaluate their impact on the organisation's financial risk | L? |
| C4.1d | Assess risk management policies that relate specifically to financial risk, so that policies are consistent with the entity's overall risk management policies | L? |
| C4.1e | Assess exposure in order to manage the level of these financial risks | L? |
| C4.1f | Design changes to risk management policies in line with the assessment of the impact on the entity's finances | L? |
| C4.2a | Analyse various derivative instruments to determine the optimal way to mitigate an organisation's financial risks | L? |
| C4.2b | Identify the need for, and evaluates on a preliminary basis, the usefulness of forward and future contracts, swaps, put and call options (including warrants) and other derivatives, in meeting the entity's objectives and staying within its risk tolerance level. | L? |
| C4.2c | Suggest and assess appropriate derivative instruments to mitigate risks | L? |
| C4.2d | Differentiate between the use of derivatives for hedging and speculation purposes. | L? |
C5 Business valuation
| C5.1a | Calculate and contrast on appropriate valuation methods (e.g., asset-based approaches, discounted cash flow, market-based approaches) to analyse and interpret a plausible range of values for a business unit or an organisation | L? |
| C5.1b | Perform financial analysis, evaluates assumptions, interprets the results, benchmarks and draws conclusions as to the entity's present and forecasted financial situation and valuation | L? |
| C5.1c | Assess the influence of the entity's competitive, economic, social, political and internal factors (culture, incentives) on the results | L? |
| C5.1d | Adapt valuation methods to value new-age businesses | L? |
| C5.1e | Assess the impact of the above on affected stakeholders | L? |
| C5.1f | Evaluate the critical assumptions and facts that underlie the valuation estimate, for review and input by others, including � (i) ownership structures (e.g. shares or assets, private company, partnership, listed or not) (ii) legal risk (e.g. completeness of liabilities) (iii) risks related to both business sustainability and general sustainability (iv) growth strategies and growth prospects | L? |
| C5.2 | Analyse drivers underpinning the value of intangibles, and interpret the analysis to perform a valuation of intangibles | L? |
| C5.3a | Analyse and evaluate the impact of mergers, acquisitions and divestitures on business strategy | L? |
| C5.3b | Analyse and evaluate the risks and financial implications of mergers, acquisitions and divestitures versus organic growth options for the organisation | L? |
| C5.3c | Advise on merger, acquisition and divestiture scenarios by considering: (i) The structure of the transaction (e.g., percentage ownership, assets v shares, expansion through franchising / alliance / joint venture) (ii) Financing options and terms (iii) Systems, information, confidentiality and disclosure requirement (iv) Key risks and rewards, and potential fit with strategies (v) Due diligence procedures | L? |
| C5.3d | Advise and evaluate differing funding structures and transaction terms for mergers and acquisitions | L? |
| C5.3e | Evaluate post-implementation reviews of the selected mergers, acquisitions and divestitures transactions and evaluate the outcomes | L? |
C6 Performance management systems
| C6.1a | Advise on the organisation's performance management framework, appraisal methodology and measures used to offer incentives | L? |
| C6.1b | Assess financial and non-financial key performance indicators (KPI) in business appraisal and evaluate the appropriateness thereof in reaching business objectives and creating value for stakeholders | L? |
| C6.1c | Assess the appropriateness of non-financial KPIs to evaluate the entity's effectiveness and efficiency | L? |
| C6.1d | Critique the appropriateness and coherence of KPIs used for the different capitals | L? |
| C6.2a | Interpret and analyse management information taking cognisance of the organisation's business objectives and external and internal environment (e.g., competitive, economic, social, political and internal factors (culture, incentives)) | L? |
| C6.2b | Perform financial analysis using appropriate techniques (e.g., financial ratio, discounted cash flow, value at risk), evaluate assumptions, interpret the results, benchmark and draw conclusions as to the organisation's present and forecast financial situation | L? |
| C6.2c | Use an integrated performance management system based on the six capitals to evaluate their contribution to creating value for stakeholders | L? |
| C6.2d | Use data analytics to analyse and interpret management, financial and non-financial information (evaluate risk and opportunities, key causes of business variance, and areas of strength or concern in performance) to advise on potential improvement | L? |
| C6.2e | Evaluate the impact of the above interpretations and analyses on costs, delivery of products/services and KPIs, to inform decision-making on performance management and appraisal | L? |
| C6.3a | Assess the effectiveness and appropriateness of the organisation's appraisal methodology with reference to reward structures and measures used to offer incentives, to inform decision-making thereon | L? |
| C6.3b | Identify whether the organisation's performance management drives value creation for stakeholders, to inform decision-making | L? |
C7 Financially troubled business
| C7.1a | Assess the underperformance by doing a preliminary analysis of: (i) The severity of the situation (ii) The causes of financial difficulty (iii) The potential for the success or failure of proposed recovery plans and suggest an appropriate course of action (iv) Identify the possible courses of action to rectify the situation (exclude formal business rescue, insolvency process) | L? |
| C7.2a | Describe implications of business rescue in terms of relevant laws (e.g., Companies Act, 2008) and regulations | L? |
| C7.2b | Identify and explain strategies to overcome underperformance (e.g., consolidation, retrenchments, business rescue, winding up) | L? |
| C7.2c | Perform a preliminary analysis of � (i) the severity of the situation (ii) the causes of financial difficulty (iii) the potential for the success or failure of proposed recovery plans and suggests an appropriate course of action | L? |
| C7.2d | Identify the possible courses of action to rectify the situation | L? |
C8 Tax law implications
| C8.1a | Identify the tax implications that can arise from a change in control or ownership structure and calculate the tax implications of financing and investment decisions | L? |
| C8.1b | Explain and calculate the taxation implications of returns to investors for the business and the investor | L? |
| C8.1c | Identify and calculate the tax implications of transactions between connected persons | L? |
| C8.1d | Explain and calculate the tax implications for possible courses of action for a financially troubled business for both the business and other stakeholders | L? |
| C8.1e | Advise on the tax consequences of different compensation structures and remuneration packages from the perspective of both the employer and the employee | L? |
| C8.1f | Explain the impact of international expansion, both inward and outward, on the SA tax liability and calculate the tax implications of international transactions | L? |
| C8.1g | Calculate the normal tax implications of foreign exchange transactions, gains and losses | L? |
| C8.1h | Calculate the capital gains tax implications on the acquisition and disposal of foreign currency assets | L? |
D. Reporting on value creation
D1 Performance measurement for external users of general purpose financial statements
| D1.1 | Prepare, analyse and evaluate general purpose financial statements in accordance with IFRS for an entity, which could be a for-profit entity, an SME, a public sector entity or a not-for-profit entity | L? |
| D1.2 | Identify the reporting framework (other than IFRS), which could be relevant to the reporting entity and such entity's users | L? |
| D1.3a | Assess the appropriateness of disclosures of non-financial information in relation to general purpose financial statements, prepared in accordance with D1.1 and D1.2 | L? |
| D1.3b | In relation to integrated reporting: (i) Analyse relevant financial and non-financial information to identify relevant analytical comparisons (e.g. sales to emissions) (ii) Display integrated thinking to evaluate value creation in the short, medium and long term by taking cognisance of the organization's strategy, governance, performance and prospects in the context of its external environment (iii) Integrate information and data to assess the relationships between the different capitals used in the organisation's integrated report and how these are used to create sustainable value for stakeholders | L? |
| D1.3c | In relation with the SDGs: Understand that the International <IR> framework can be used as a basis for adopting SDG disclosure recommendations | L? |
E. Tax governance and compliance
E1 Tax governance
| E1.1a | Identify and describe the different role-players influencing the tax landscape in South Africa | L? |
| E1.1b | Describe the role and interaction of the different types of taxes in South Africa with reference to the design features used in tax design | L? |
| E1.1c | Explain the adherence of the tax system in South Africa, with the underlying principles of a tax system | L? |
| E1.2a | Describe the rules applied and process followed in judicial decisions to interpret tax legislation (including primary and secondary sources) and double tax agreements (DTAs) | L? |
| E1.2b | Demonstrate the ability to apply the principles of tax interpretation to any new or unfamiliar tax legislation | L? |
| E1.3a | Analyse the taxpayer's tax profile | L? |
| E1.3b | Analyse the transaction or event, identify the profile of the interacting parties and identify and explain taxes and anti-avoidance provisions of possible application | L? |
| E1.3c | Apply the relevant law to the facts, determine the tax position and compute the tax payable (VAT or normal tax) for individuals and companies | L? |
| E1.3d | Identify further information required to complete a tax computation or finalise tax advice or the need to obtain specialist advice to ensure compliance with all possible taxes | L? |
| E1.4a | Identify and describe the different administrative obligations and remedies of a taxpayer September 2021 | L? |
| E1.4b | Prepare VAT and Income Tax returns in compliance with applicable tax filing requirements for individual taxpayers or companies and other incorporated entities undertaking routine tax transactions | L? |
E2 Laws and regulations
| E2.1a | Describe the basic legal concepts and structure of the South African legal system | L? |
| E2.1b | Identify and describe the implications of applicable laws and regulations on the organisation | L? |
| E2.1c | Apply the law of contract and company law to selected case studies | L? |
| E2.1d | Identify when to seek assistance from experts/specialists on legal matters to expedite problem-solving, decision-making and/or reaching conclusions | L? |
F. Assurance and related services
F1 Concepts and principles of assurance engagements
| F1.1a | Advise on an organisation's need for assurance engagements (public interest; distinction between statutory and voluntary audits) | L? |
| F1.1b | Identify all stakeholders involved in an assurance engagement and the impact of their functions and responsibilities | L? |
| F1.1c | Contrast the levels of assurance provided to users from a range of assurance and related services reports that are ordinarily provided by a professional services firm | L? |
| F1.2a | Explain the expectation gap with reference to the implications thereof and identifying ways to overcome this gap | L? |
| F1.2b | Explain the role of professional auditors in assurance engagements from a public interest perspective | L? |
| F1.3a | Outline standard-setting, the structure and use of the IAASB standards and IFAC standards and explain the implications of pending changes in assurance standards (exposure drafts, discussion papers etc.) to future assurance engagements | L? |
| F1.3b | Apply regulatory requirements (laws, regulations, standards) that define/affect/protect the auditor's rights and duties | L? |
| F1.3c | Apply regulatory requirements (laws, regulations, standards) pertinent to an assurance engagement in the performance of the engagement | L? |
| F1.3d | Explain the quality control measures applicable to assurance engagements at firm level, engagement level, and for inter-firm inspections and regulatory inspections | L? |
| F1.4 | Advise, from an ethical perspective, on the conduct and practices of a firm and its staff involved in the rendering of assurance engagements (codes of ethics and other professional and legal requirements) | L? |
| F1.5a | Determine whether all the key elements of an assurance engagement are present and understood before accepting an assurance engagement | L? |
| F1.5b | Describe the sources of liability (including professional negligence) arising from an assurance engagement | L? |
| F1.5c | Consider the following matters before acceptance of an assurance engagement: (i) Competency to perform the engagement and the presence of requisite capabilities including time and resources; (ii) Relevant ethical requirements; (iii) Integrity of the client | L? |
| F1.5d | Describe the key matters which underlie the agreement of scope and terms of an assurance engagement (new and continuous)) | L? |
F2 Audits of historical financial statements of non-specialised profit orientated entities
| F2.1 | By applying F1 in this context, explain and apply the objective of an audit of historical financial statements together with reasonable assurance as outcome, and how it will impact on stakeholders | L? |
| F2.2a | By applying F1, follow the stages involved in performing an audit: (i) Apply pre-engagement activities and identify relevant issues (ii) Plan the audit engagement, taking into account its objectives and the criteria governing the audit opinion (iii) Evaluate transactional business processes (iv) Assess the entity's risk assessment processes, also taking into account its corporate governance and risk profiles (v) Determine materiality for the audit engagement (vi) Assess the risks of material misstatement at the financial statement level and at the assertion level for different classes of transactions, including related disclosures, and account balances with their disclosures (vii) Formulate a suitable audit strategy and audit approach (viii) Formulate appropriate further audit procedures based on the identified risks of material misstatement (ix) Assess the evidence and results of the analysis and procedures (x) Document the work performed and its results (xi) Draw draft conclusions | L? |
| F2.2b | Based on all of the above, formulate a draft audit opinion | L? |
| F2.2c | Apply F2.2 (a) and (b) to the audit of a group of companies where all companies in the group have the same independent auditor | L? |
| F2.3a | Identify the possibility of, and need to, rely on other parties (internal auditors, internal and external experts) | L? |
| F2.3b | Describe suitable procedures to ensure audit quality is maintained when relying on the work performed by other parties | L? |
| F2.4a | Communicate matters to be reported to management and those charged with governance | L? |
| F2.4b | Prepare an appropriate auditor's final report | L? |
F3 Audits of historical financial statements of public sector entities
| F3 | Describe how F2 (where appropriate) will apply for similar transactions and events | L? |
F4 Audits of historical financial statements of other not-for-profit entities
| F4 | Describe how F2 (where appropriate) will apply for similar transactions and events | L? |
F5 Other assurance services
| F5.1a | Describe the external auditor's role in an organisation's combined assurance process | L? |
| F5.1b | Describe how F2 should be adapted to perform an assurance engagement on other non-financial information | L? |
| F5.2 | Adapt F2 in as far as it is relevant to review engagements | L? |
F6 Other related services
| F6.1a | Explain an organisation's need for related services (e.g., agreed upon procedures, compilation of financial statements) and other services (e.g., due diligence, accounting services associated with prospectuses, expert services) | L? |
| F6.1b | Describe statutory, professional and ethical issues related to the undertaking of the other related services (e.g., codes of ethics, IAASB framework and other regulatory requirements (national and international)) | L? |
| F6.1c | Adapt F2 above in relation to other related services | L? |
| F6.2 | Within the context of F6.1 describe the characteristics of a compilation engagement and the related considerations and adapt F2 in as far as it is relevant to a compilation engagement. | L? |
| F6.3 | Within the context of F6.1 describe the characteristics of an agreed upon procedures engagement and the related considerations and adapt F2 in as far as it is relevant to an agreed upon procedures engagement. | L? |
| F6.4 | Describe the differences between a forensic audit and an audit of historical financial statements | L? |
| F6.5 | Describe the characteristics of an internal audit engagement (including value-for-money and performance audits) and the related considerations | L? |
| F6.6 | Within the context of F6.1 describe the characteristics of a due diligence engagement and the related considerations | L? |