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: 

Inspect and monitor basic foreign exchange transactions within the banking environment 
SAQA US ID UNIT STANDARD TITLE
7304  Inspect and monitor basic foreign exchange transactions within the banking environment 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
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 5  Level TBA: Pre-2009 was L5  54 
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 is intended for people who will monitor foreign exchange transactions. People accredited with this unit standard are able to plan, prepare, conduct and finalise inspections. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Candidates attempting this unit standard should be competent at grade twelve/diploma mathematics and accounting. It is recommended that they complete Central Banking unit standards FSC009 and FSC010. They should also display an aptitude for mathematics and business analyses. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Plan and prepare for an inspection. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Exchange control inspection working papers are compiled in accordance with bank-specific requirements. 

ASSESSMENT CRITERION 2 
2. Entities to be inspected are timeously informed. 

ASSESSMENT CRITERION 3 
3. Logistical arrangements are co-ordinated prior to inspection. 

SPECIFIC OUTCOME 2 
Conduct an inspection. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The purpose of the inspection is explained to the management of the entity. 

ASSESSMENT CRITERION 2 
2. All requested documentation is obtained and scrutinised for exchange control compliance. 

ASSESSMENT CRITERION 3 
3. Additional samples are requested where applicable and according to bank-specific procedures. 

ASSESSMENT CRITERION 4 
4. Exchange control inspection working papers are correctly completed. 

ASSESSMENT CRITERION 5 
5. Instances of non-compliance are identified and the correct action is immediately explained to the staff members responsible. 

ASSESSMENT CRITERION 6 
6. Relevant guidance is provided in specific instances. 

ASSESSMENT CRITERION 7 
7. Inspection outcomes are verbally reported to relevant stakeholders. 

ASSESSMENT CRITERION 8 
8. A knowledge and understanding of exchange control rulings and internal policy are demonstrated and applied throughout the inspection. 

SPECIFIC OUTCOME 3 
Finalise the inspection. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. An inspection report is compiled according to bank-specific formats. 

ASSESSMENT CRITERION 2 
2. The inspection report is factually correct as per exchange control working papers. 

ASSESSMENT CRITERION 3 
3. The inspection report conforms to standard exchange control terminology. 

ASSESSMENT CRITERION 4 
4. All authorisation and recording requirements are complied with according to bank-specific procedures. 

ASSESSMENT CRITERION 5 
5. Inspection report is forwarded to relevant stakeholders. 

SPECIFIC OUTCOME 4 
Monitor foreign exchange transactions. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Returns from authorised dealers are analysed and interpreted according to exchange control requirements. 

ASSESSMENT CRITERION 2 
2. Instances of non-compliance and deviations are identified and recorded according to exchange control requirements. 

ASSESSMENT CRITERION 3 
3. Instances of non-compliance and deviations are reported to relevant parties for action in accordance with exchange control procedures. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
1. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
2. 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.
3. Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

Therefore anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution which is accredited by the relevant ETQA. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
Computational Skills - Spreadsheet knowledge.
The ability to conceptualise business processes.
Interpersonal Skills, Report Writing Skills, Communication Skills, Negotiation and Conflict Handling Skills. 


Critical Cross-field Outcomes (CCFO): 

UNIT STANDARD CCFO IDENTIFYING 
The learner is able to identify non-compliance to exchange control guidelines and corrective action is immediately explained. 

UNIT STANDARD CCFO WORKING 
The learner is able to work effectively with others when conducting an inspection. 

UNIT STANDARD CCFO ORGANISING 
The learner is able to co-ordinate logistical arrangements prior to the inspection. 

UNIT STANDARD CCFO COLLECTING 
The learner is able to compile inspection working papers and scrutinise documentation for exchange control compliance. 

REREGISTRATION HISTORY 
As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
  ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


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. Chartall Business College 
2. Nedbank Ltd 
3. The Institute of Literacy Advancement 



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.