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 THAT HAS PASSED THE END DATE: 

Apply principles of risk management to manage and report risk situations 
SAQA US ID UNIT STANDARD TITLE
119349  Apply principles of risk management to manage and report risk situations 
ORIGINATOR
SGB Public Administration and Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Public Administration 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  8 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-06-30   2029-06-30  

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 
Learners working towards this standard will be working within a Public Sector environment, specialising in Public Finance Management and Administration, where the acquisition of competence against this standard will add value to one's job. This standard will also add value to public officials who are seeking to develop a career pathway towards becoming an accomplished public finance management and administration specialist.

The qualifying learner is capable of:
  • Explaining the concept of risk in a public sector financial administration environment
  • Applying the principles of risk to make a financial decision
  • Determining risk assessment
  • Analysing the effect of selected scenarios on a potential risk 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this Unit Standard must be in possession of a Further Education and Training Certificate or equivalent qualification 

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the concept of risk in a public sector financial administration environment. 
    OUTCOME RANGE 
    Factors that influence the level of risk include but are not limited to timing, term, type of instrument and nature of market 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concept of risk in a public sector financial administration environment is explained 

    ASSESSMENT CRITERION 2 
    The role of the governing body in the design and implementation and monitoring of a risk management system is explained 

    ASSESSMENT CRITERION 3 
    Risk response and risk structures are explained 

    ASSESSMENT CRITERION 4 
    Responsibilities, functions and qualities of internal auditor are explained in relation to the need to strengthen the internal risk control system 

    ASSESSMENT CRITERION 5 
    Methods of risk assessment within the public sector financial administration environment are identified and explained 

    ASSESSMENT CRITERION 6 
    The different methods for avoiding and managing risks and safeguarding assets are identified and explained 

    SPECIFIC OUTCOME 2 
    Apply the principles of risk to make a financial decision. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The risk of a specific financial option is analysed and quantified in order to explain the consequences of a financial decision 

    ASSESSMENT CRITERION 2 
    The probability of gain or loss is explained in relation to the particular option 

    ASSESSMENT CRITERION 3 
    Possible options to reduce risk are explored and a strategy is developed that could eliminate or reduce a specified risk 

    ASSESSMENT CRITERION 4 
    Proposed alternatives options are analysed 

    ASSESSMENT CRITERION 5 
    Internal controls and the role they play in ensuring the effectiveness of accounting and risk management systems are explained 

    ASSESSMENT CRITERION 6 
    Appropriate instruments of internal control are reviewed, compared and explained 

    SPECIFIC OUTCOME 3 
    Determine risk assessment. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The relationship between risk and return is determined by comparing the accepted accounting definitions of risk and return 

    ASSESSMENT CRITERION 2 
    Business and financial risk are described applied according to the accepted notions of business and financial risk within the public sector financial administration context 

    ASSESSMENT CRITERION 3 
    A comparison between unsystematic risk and systematic risk is made based on specific circumstances 

    ASSESSMENT CRITERION 4 
    Returns are determined according to GAAP/GRAP 

    SPECIFIC OUTCOME 4 
    Analyse the effect of selected scenarios on a potential risk. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Broad categories of risk are described with reference to strategic, operational, technology and insurable risk 

    ASSESSMENT CRITERION 2 
    Knowledge of events in the macro environment is applied in order to initiate the formulation of potential risk scenarios 

    ASSESSMENT CRITERION 3 
    Potential risk scenarios are identified and contextualized within the public sector financial administration environment 

    ASSESSMENT CRITERION 4 
    Appropriate methods of risk assessment are implemented in relation to selected scenarios 

    ASSESSMENT CRITERION 5 
    The advantages and disadvantages of the various scenarios are debated and the range of scenarios evaluated against the criteria and ranked for best fit 

    ASSESSMENT CRITERION 6 
    Recommendations to improve the control of operating activities and resources are understood and implemented in the context of a computerized information system 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    1. Any 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.
    2. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
    3. 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 an ETQA that has a Memorandum of Understanding with the relevant ETQA.
    4. Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    The learner must demonstrate an understanding of:
  • Municipal Finance Management Act
  • Public Finance Management Act
  • A comprehensive understanding of legislation, rules and statutory requirements applicable to the public sector as it relates to risk management
  • Risk assessment
  • Risk returns
  • Risk management systems
  • Internal control systems 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems using critical and creative thinking processes to interpret the South African Constitution, legal system and legislative regulations impacting on the public sector financial management context 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organization or community to assess potential risk scenarios 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively in order to ensure that risk is proactively managed 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organize and crtically evaluate information in order to assess risk and determine returns 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language in the modes of oral and/or written persuasion to source data to determine risk decisions 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically, showing responsibility to the environment and health of others in ensuring that risk probability factors are effectively determined 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by recognising that problem-solving contexts do not exist in isolation in apply knowledge of events in the macro environment to formulate potential scenarios and explaining the potential impact on anticipated outcomes 

    UNIT STANDARD CCFO CONTRIBUTING 
    Participating as responsible citizens in the life of local, national and global communities by analysing all aspects of potential risk 

    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
    Core  49554   National Diploma: Public Finance Management and Administration  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  LG SETA 
    Elective  65649   National Certificate: Official Statistics  Level 5  Level TBA: Pre-2009 was L5  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.
     
    1. A4 Consultancy CC 
    2. Abacwaningi Business Solutions 
    3. Amabamba Recruitment 
    4. AVAX SA 481 CC. T/A Mandisa Development Services 
    5. Buena Vista Learning Academy 
    6. Edequette Training Institute 
    7. Excellent Minds Institute (Pty) Ltd 
    8. Giamanje TVET College 
    9. Growth Management Consulting 
    10. Hamonate Consulting 
    11. IQ Skills Academy (PTY) LTD. 
    12. Jobafrik Consulting 
    13. Josmap Training Institute 
    14. KOKANO PROJECTS PTY LTD 
    15. KYM MANAGEMENT CONSULTING 
    16. Lewerb Holdings (PTY) Ltd 
    17. Mafamawethu Consultants 
    18. Makoti Skills Development Solutions 
    19. Mamuhle Academy 
    20. MANCOSA Pty (Ltd) 
    21. Maritime Business Institute 
    22. MARS Business Consulting 
    23. MATEPE INVESTMENTS (PTY) LTD 
    24. Morar Incorporated - KZN 
    25. Mortarboard Training Solutions 
    26. MTK Corporate Solutions 
    27. Ndwamato Training Solutions (Pty) Ltd 
    28. Nemalale Eagles Consultancy CC 
    29. Pachedu Skills Solutions 
    30. Pachi Global Foundation 
    31. Pebetse Training and Consulting 
    32. Petra Institute of Development 
    33. PFIM Trading (Pty) Ltd 
    34. PMA Holdings (PTY ) LTD. 
    35. Progressive School of Business and Engineering (Pty) 
    36. PTDEV (Pty) Ltd 
    37. Reflections Development Institute 
    38. Regent Business School (Pty) Ltd t/a Regent Business School 
    39. Resonance Institue of Learning 
    40. Silalele Consulting CC. 
    41. Siletha Consultant 
    42. Siza Nesu Training and Consultants 
    43. South African Corporate Training Association 
    44. Tachfin Holdings 
    45. Tasc Business Consulting and Training 
    46. Tloumogale Business Development & Consulting 
    47. Transafric Consulting Pty Ltd 
    48. Tshepang Consulting & Project 
    49. Umqondo Consultancy 
    50. UNIVERSITY OF BUSINESS EXCELLENCE(PTY)LTD 
    51. University of Pretoria 
    52. University of Venda 


    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.