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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Demonstrate knowledge and understanding of globalisation and its implications for financial services in South Africa 
SAQA US ID UNIT STANDARD TITLE
14508  Demonstrate knowledge and understanding of globalisation and its implications for financial services in South Africa 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6  7 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 		 2003-08-13  2006-08-13  SAQA 0249/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2007-08-13   2010-08-13  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
230080  Demonstrate knowledge and understanding of globalisation and its implications for financial services in South Africa  Level 6  Level TBA: Pre-2009 was L6  7   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended to promote an in depth knowledge and understanding of globalisation and the implications of globalisation for South Africa and the world. It requires the application of knowledge and the analysis and interpretation of global issues and sustainability to ensure knowledge workers in the global economy of 21st Century.

The qualifying learner is capable of:
  • Understanding of the origins of globalisation.
  • Analysing important financial issues relating to globalization.
  • Analysing the positive and negative consequences of globalisation.
  • Explaining the effect of globalisation on the legislative and regulatory environment that applies to financial services. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 4. 

    UNIT STANDARD RANGE 
    The range includes but is not limited to:
  • Effect on the tax system includes residence, FAIS and CGT.
  • Reference should be made wherever appropriate to issues of sustainability. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate knowledge and understanding of the origin of globalisation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concept of globalisation is explained with examples. 

    ASSESSMENT CRITERION 2 
    2. Historical events that have shaped the globalisation process are examined with reference to the period from the cold war to the G8. 

    ASSESSMENT CRITERION 3 
    3. The impact of globalisation on national borders in the European Union is analysed and applied to potential developments in the African Union. 

    ASSESSMENT CRITERION 4 
    4. Trends in the financial services sector in South Africa are analysed for possible indicators of globalisation. 

    ASSESSMENT CRITERION 5 
    5. The impact of globalisation on the South African economy is analysed with examples. 

    ASSESSMENT CRITERION 6 
    6. The impact of globalisation on individuals in South Africa is analysed for three case studies. 

    ASSESSMENT CRITERION 7 
    7. The role of technology in globalisation is discussed with examples. 

    SPECIFIC OUTCOME 2 
    Analyse important financial issues relating to globalisation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Free flow of capital as a consequence of globalisation is explained with reference to the impact on the South African economy and the South African financial markets. 

    ASSESSMENT CRITERION 2 
    2. Exchange of information between governments as a consequence of globalisation is explained with reference to the impact on South African residents. 

    ASSESSMENT CRITERION 3 
    3. The interconnectedness of international markets is analysed for three different case studies. 

    ASSESSMENT CRITERION 4 
    4. Resistance to globalisation is explained in terms of fall in currency and links to the economy. 

    ASSESSMENT CRITERION 5 
    5. The suitability of the existing tools of economic management that focus on GDP and marketing prices are assessed for suitability as a means of economic forecasting. 

    ASSESSMENT CRITERION 6 
    6. New economic tools are proposed to map the accelerating changes resulting from globalisation with reference to non-onetary inputs and outputs such as social capital, quality of life and ecological assets. 

    ASSESSMENT CRITERION 7 
    7. Changes that are needed to protect against financial instability are proposed with reference to sustainability and social justice. 

    SPECIFIC OUTCOME 3 
    Analyse the positive and negative consequences of globalisation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The impact of globalisation on product development is explained with reference to financial services products. 

    ASSESSMENT CRITERION 2 
    2. Access to global markets as a result of globalisation is explained with reference to investment diversification. 

    ASSESSMENT CRITERION 3 
    3. The effects of globalisation on an individual or group in South Africa are investigated for two case studies. 

    ASSESSMENT CRITERION 4 
    4. The impact of globalisation on the labour market is explained for two case studies. 

    ASSESSMENT CRITERION 5 
    5. The impact of globalisation on small and large businesses is compared with reference to the consequences of competition. 

    ASSESSMENT CRITERION 6 
    6. The benefits of globalisation are explained in terms of the liberation of markets. 

    SPECIFIC OUTCOME 4 
    Explain the effect of globalisation on the legislative and regulatory environment. 
    OUTCOME NOTES 
    Explain the effect of globalisation on the legislative and regulatory environment that applies to financial services. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Regulation of the financial services industry is discussed as a consequence of globalisation. 

    ASSESSMENT CRITERION 2 
    2. The role of government in the globalisation process is analysed and linked to government policies in South Africa. 

    ASSESSMENT CRITERION 3 
    3. The effect of globalisation on the South African tax system is explained with examples. 

    ASSESSMENT CRITERION 4 
    4. Legislation relating to money laundering is named and an indication is given of how globalisation has driven international trends in legislation in this regard. 

    ASSESSMENT CRITERION 5 
    5. The need for the Financial Services Board to regulate the financial services industry in South Africa is explained with reference to international trends. 

    ASSESSMENT CRITERION 6 
    6. The role of international and financial institutions such as the IMF and World Bank in globalisation is explained with reference to the role in developing and less developed countries. 

    ASSESSMENT CRITERION 7 
    7. The effect of unregulated free trade on the African continent is discussed with examples. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA (INSQA framework for assessment and moderation). 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in order to investigate case studies. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations in explaining the concepts and issues required in the standard. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively and critically showing responsibility towards the environment and the health of others in explaining the connection between globalisation and innovations in technology. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems in explaining the causes and effects or consequences of globalisation. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 230080, which is " Demonstrate knowledge and understanding of globalisation and its implications for financial services in South Africa ", Level 6, 7 Credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  49055   National Certificate: Foreign Economic Representation  Level 6  Level TBA: Pre-2009 was L6  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.
     
    NONE 


    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.