1.1. An audit program is drafted in terms of current practice and the required tests are correctly performed.
1.2. The audit evidence is validly documented.
1.3. An Internal Audit Report, in accordance with professional standards, is correctly drafted.
1.4. Statistical sampling is correctly applied in the selection process.

2.1. Financial statements and consolidated financial statements, illustrating disclosure requirements in respect of accounting policy, leases, instalments and earnings per share, are prepared.
2.4. Ratios are calculated, compared and interpreted.
2.5. The value of business interests is determined.

3.1. Accounting entries and balance sheets reflecting the effect of liquidations, amalgamations and reconstructions, are prepared.
3.2. Investment transactions are correctly recorded.

4.1. The tax liabilities of different legal entities are determined.
4.2. Annual tax returns are prepared.
4.3. Provisional tax returns are prepared.
4.4. The tax liability of the employer is determined.

5.1. The interaction between supply and demand is explained to ensure that the learner will understand the basic principles of a market economy.
5.2. Market forms are identified.
5.3. Monetary and fiscal policies are discussed.
5.4. Practical economic scenarios covering national and international situations are discussed and interpreted.
5.5. An understanding of international trade and finance is demonstrated.

6.1. An effective internal mail and communication system for the business is correctly designed.
6.2. An effective external communication system for the business is correctly devised.
6.3. Effective documentation systems for the activities of the business are correctly designed.
6.4. An effective computer software system for the administration of a retail business is correctly selected.
6.5. The viability of a business opportunity is correctly identified and determined.
6.6. A workable plan is correctly compiled.

Integrated assessment:

Competency is formatively assessed by way of tests and projects, and summatively by way of written and practical examinations.