SAQA 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: 

Manage trust accounts according to relevant Act 
SAQA US ID UNIT STANDARD TITLE
116597  Manage trust accounts according to relevant Act 
ORIGINATOR
SGB Administration 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Office Administration 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular-Fundamental  Level 5  Level TBA: Pre-2009 was L5  12 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 
This unit standard forms part of the qualification, FETC: Debt Recovery. This standard will add value to learners who have their own or wish to start their own Debt Recovery business, or those doing debt recovery in large Debt Recovery organisations. This standard will also add value to learners working in a large commercial organisation in the Debt Recovery/Credit control division.

The qualifying learner is capable of:
  • Demonstrating and applying knowledge of law pertaining to Trust Accounts
  • Opening a Trust Account
  • Maintaining books of account pertaining to a Trust Account
  • Reporting on Trust Accounts 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Communication at NQF Level 3
  • Mathematical Literacy at NQF Level 3
  • Computer Literacy at NQF level 3 

  • UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate and apply knowledge of law pertaining to Trust Accounts. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The laws of Trust Accounts are explained and applied to applicable debtor accounts in the organisation. 

    ASSESSMENT CRITERION 2 
    The requirements of the Debt Collector's Act are described and explained with examples from accounts handled by the organization. 

    ASSESSMENT CRITERION 3 
    The penalties for misconduct set out in the Debt Collector's Act are described with examples. 

    ASSESSMENT CRITERION 4 
    All relevant provisions relating to the Debt Collector's Act are applied in the administration of Trust Accounts. 

    SPECIFIC OUTCOME 2 
    Open a Trust Account. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The requirements of Financial Institutions for opening a Trust Account are evaluated and the a suitable institution is chosen. 

    ASSESSMENT CRITERION 2 
    The bank is instructed that all charges and debits for the Trust Bank account be debited to the business's general bank account. 

    ASSESSMENT CRITERION 3 
    Banking regulations pertaining to Trust Account are reviewed and applied where applicable. 

    ASSESSMENT CRITERION 4 
    Details of Trust Account are provided to debtors for the purposes of payment of accounts. 

    SPECIFIC OUTCOME 3 
    Maintain books of account pertaining to a Trust Account. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    All relevant books of accounts are opened in order to maintain records. 
    ASSESSMENT CRITERION RANGE 
    Books of account include but are not limited to a Business Ledger and a Trust Ledger.
     

    ASSESSMENT CRITERION 2 
    A Trust Ledger is opened in order to control accounts of each credit grantor and the sub-accounts for each clients' credit grantor. 

    ASSESSMENT CRITERION 3 
    All transactions pertaining to Trust Accounts are recorded according to legislative and organizational requirements. 

    ASSESSMENT CRITERION 4 
    All fees and charges levied against accounts are recorded according to legislative and organizational requirements. 

    ASSESSMENT CRITERION 5 
    A Transfer Journal is maintained and utilised to keep track of the legitimate transfers from the Trust Ledger to the Company's fee account. 

    SPECIFIC OUTCOME 4 
    Report on Trust Accounts. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Procedures for properly accounting to each trust client on the current states of accounts are described and applied according to legislative and organizational requirements. 

    ASSESSMENT CRITERION 2 
    Reporting is done on a monthly basis to each client. 

    ASSESSMENT CRITERION 3 
    Bank reconciliations are performed at regular intervals on the Trust Account in order to reconcile the balance on the trust banking account with a list of trust credits extracted from the Trust Ledger. 
    ASSESSMENT CRITERION RANGE 
    Reconciliations are conducted at least on a bi-monthly basis.
     

    ASSESSMENT CRITERION 4 
    Unallocated deposits are dealt with according to company protocol, credit grantor requirements and Debt Collector's Act, Debt Collecting Council. 

    ASSESSMENT CRITERION 5 
    Any audit requirements required by the Council for Debt Collectors as stipulated in the relevant legislation are complied with and all reports compiled and submitted accordingly. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An 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.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • 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 with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • The acts and related legislation applying to debt collection
  • Accounting principles relating to the administration of Trust Accounts
  • Records required by legislation in debt collection
  • The code of conduct and rules pertaining to Trust Accounts
  • Banking protocol and rules relating to Trust Accounts 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO WORKING 
    Learners are able to work effectively with others in order to ensure that legal requirements are applied, documented and adhered to. 

    UNIT STANDARD CCFO ORGANISING 
    Learners are able to organise oneself and one's activities to reflect the ongoing development of own and future legal competence and compliance. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, evaluate, organise and critically evaluate information pertaining to the relevant act that impact on Trust Accounts. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are able to communicate effectively with all stakeholders to ensure that all parties fully understand all legal obligations, procedures and processes. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are able to use science and technology to source acts and statutes and administer Trust Accounts. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to demonstrate an understanding of the world as a set of interrelated systems by recognizing that debtor problem-solving contexts do not exist in isolation and that other bodies and regulatory authorities impact on solutions that need to be engaged to ensure the correct allocation and assessment of debtor accounts. 

    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
    Elective  49021   Further Education and Training Certificate: Debt Recovery  Level 4  NQF Level 04  Reregistered  2023-06-30  FASSET 


    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. Boston City Campus & Business Coll 
    2. Korbicom (Pty) Ltd 



    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.