Application For The Registration Of The CIMA Qualification Within The National Qualifications Framework, South Africa

Chartered Management Accountant Qualification Page 1 of 20

Application for the Registration of the Qualification Chartered Management Accountant On the National Qualifications Framework

1.0 Qualification title.

Chartered Management Accountant (NQF Level 7)

Awarding body: The Chartered Institute of Management Accountants 63 Portland Place, London W1N 1AB.

Telephone: 0044 20 7637 2311 with offices at: 2nd Floor, Thrupps Centre P O Box 745 204 Oxford Road Northlands Illovo 2116 Johannesburg South Africa

Telephone: (011) 880 4767 Fax (011) 880-4769 Email: [email protected]

Organising Field: NSB 03: Business, Commerce and Management Studies Sub-Field: Accounting and Financial Management

2.0 Purpose of the qualification.

The purpose of the qualification is to:

 Provide the learner with the knowledge, understanding, skills and experience to become a Chartered Management Accountant, for individual and social transformation;  Prepare the learner to work as a management accountant and develop a specialist accounting and management career, either within South Africa or in other countries around the world;  Provide the learner with a developmental experience which promotes independence and self reliance and encourages the adoption of a critical, questioning approach, analysing and challenging the truth and value of received wisdom;  Provide employers and others, with an adequate basis for assuring that those learners gaining the qualification, are competent to act as management accountants for companies and other organisations, whether in manufacturing, commercial or Chartered Management Accountant Qualification Page 2 of 20

service organisations, in either the public or private sectors of the economy within South Africa;  Provide companies and other organisations, with professionally qualified, skilled staff, who are able to make a positive contribution to the development of business and society, adding value and creating sustainable economic growth, both for their employers and the economy of South Africa.

2.1 Description of the qualification:

There are two requirements that learners must achieve to obtain the qualification: (a) achieve the learning programme outcomes, as described within the ‘CIMA Beyond 2000 Syllabus’ and pass all subject examinations at Foundation, Intermediate and Final level. (b) complete a minimum of three years of relevant practical work experience and achieve the training experience outcomes, as described within the CIMA Practical Experience Requirements. Learners record their practical experience within the ‘CIMA Career Profile’, which takes the form of a detailed structured curriculum vitae (CV). When complete, the learner’s ‘Career Profile’ is verified by their employer(s) and sent for assessment by two approved CIMA Membership Assessors.

2.1.1 The Learning Programme.

Aims of the Syllabus:

 To enable the Institute to ascertain whether prospective members have an adequate knowledge, understanding and mastery of the stated body of knowledge and skills.

 To complement the Institute’s practical experience requirements.

Syllabus Structure:

The learning programme is structured within three levels: Foundation Intermediate Final.

The subjects or study units within each level are as follows:

Foundation (NQF Level 5): Paper 1 - Financial Accounting Fundamentals (FAFN) – 3 hour exam. Paper 2 - Management Accounting Fundamentals (FMAF) – 3 hour exam Paper 3a - Economics for Business (FECB) – 2 hour exam Paper 3b - Business Law (FBLW) – 2 hour exam Paper 3c - Business Mathematics (FBSM) – 2 hour exam

Intermediate (NQF Level 6): Paper 4 - Finance (IFIN) – 3 hour exam Paper 5 - Business Taxation (IBTX) – 3 hour exam Chartered Management Accountant Qualification Page 3 of 20

Paper 6 - Financial Accounting (IFNA) – 3 hour exam Paper 7 - Financial Reporting (IFRP) – 3 hour exam Paper 8 - Management Accounting – Performance Management (IMPM) – 3 hour exam Paper 9 - Management Accounting – Decision Making (IDEC) – 3 hour exam Paper 10 - Systems & Project Management (ISPM) – 3 hour exam Paper 11 - Organisational Management (IORG) – 3 hour exam

Final (NQF Level 7): Paper 12 - Management Accounting- Business Strategy (FLBS) – 3 hour exam Paper 13 - Management Accounting- Financial Strategy (FLFS) – 3 hour exam Paper 14 - Management Accounting- Information Strategy (FLIS) – 3 hour exam Paper 15 - Management Accounting- Case Study (FLCS) – 3 hour exam

Learners are required to achieve 50% of the available marks in each exam, to gain a pass.

Examination Progression Rules:

The examination structure offers learners the flexibility to study various combinations of subjects at their own pace. Progression rules however do apply for the management accounting and financial accounting subjects at Foundation and Intermediate level. Therefore the management accounting stream must be completed in the following order:

Paper 2 Management Accounting Fundamentals Paper 8 Management Accounting – Performance Management Paper 9 Management Accounting – Decision Making and the financial accounting stream completed in the following order:

Paper 1 Financial Accounting Fundamentals Paper 6 Financial Accounting Paper 7 Financial Reporting

All subjects at Foundation and Intermediate level are seen as being important in providing an underpinning for the Final level examinations and therefore these levels must be completed prior to the Final level being attempted. Papers 12,13 and 14 at Final level must all be taken at the same examination diet on the first sitting for each learner.

There are no electives within the qualification.

2.1.2 Practical Work Experience

The ‘CIMA Practical Experience Requirements’ describe the range of practical work experience learners need to gain in order to achieve the qualification. They are classified into three areas, ‘Basic’, ‘Core’ and ‘Supplementary’. These three areas reflect the wide range of functions carried out by management accountants in fulfilling their responsibilities. Chartered Management Accountant Qualification Page 4 of 20

Basic Experience Experience gained by learners should be at a “hands-on” level. Examples of suitable experience include:  Preparing and maintaining accounting records  Statutory and regulatory reporting  IT desktop skills  Systems and procedure development

Core experience Experience gained should be “hands-on” as much as possible. Learners may be contributing to the activities without necessarily having ultimate responsibility for the output. Examples of suitable experience include:  Preparation of management accounts  Planning, budgeting and forecasting  Management reporting for decision making  Product and service costing  Information management  Project appraisal  Project management  Working capital control Supplementary Experience Experience gained by learners might include responsibility for research, analysis and evaluation of activities, assisting with activities or contributing as part of a team. Examples of suitable experience include:  Financial strategy  Corporate finance  Treasury management  Taxation  Business evaluation and appraisal  Business strategy  External relationships

3.0 Assumptions of learning already in place.

To ensure that learners are adequately prepared to undertake the qualification, they should have:  Mathematical skills at Level 3 on the framework. This can be achieved either through Grade 12 in the South African schools system or a Further Education and Training qualification or Adult Basic Education and Training Programmes.  English literacy skills at Level 3 on the framework. This can be achieved either through Grade 12 in the South African schools system or a Further Education and Training qualification or Adult Basic Education and Training Programmes. Chartered Management Accountant Qualification Page 5 of 20

4.0 Exit level outcomes and associated assessment criteria.

4.1 Critical cross-field outcomes and assessment criteria

Critical Cross-field Outcomes – Associated Assessment Criteria (Learners can:)

1. Identify, systematically examine,  Solves problems by methodically critically evaluate and solve problems in examining the issues, researching and which responses display that critically evaluating circumstances responsible decisions have been made, and/or situations. using critical and creative thinking.  Solves problems by developing a range of creative alternative solutions that achieve acceptable reasoned outcomes.

2. Work effectively with others as a  Integrates well within a team, group, member of a team, group, organisation organisation or community. or community.  Demonstrates a variety of personal skills in dealing with others, including listening, communication, negotiation, co-operation, diplomacy and leadership.  Works effectively with others to achieve planned outcomes.

3. Organise and manage oneself and one’s  Plans and carries out tasks/activities in activities responsibly and effectively. a methodical and well ordered manner.  Achieves task/activity objectives within the planned time-scale and using the allocated resources.

4. Collect, analyse, organise and critically  Searches for appropriate and relevant evaluate information. data/information and assembles in a structured manner.  Analyses data/information and identifies key elements or facts.  Critically evaluates data/information to draw conclusions and make recommendations.

5. Communicate effectively using visual,  Communicates orally and in writing, an mathematical and language skills in the understanding of theoretical knowledge modes of oral/written presentation. and concepts, appropriate to level, using a variety of methods. Communicates orally and in writing, thoughts, ideas and opinions in an easily understood and effective manner. Chartered Management Accountant Qualification Page 6 of 20

6. Use science and technology effectively  Applies appropriate scientific principles and critically, showing responsibility to analyse data and provide information towards the environment and health of to support decision making. others.  Uses information technology to analyse and/or compute data.  Uses information technology to communicate with others in a safe and effective manner.

7. Demonstrate an understanding of the  Applies knowledge of alternative world as a set of related systems by cultures, environment, systems and recognising that problem-solving methods of working in other contexts do not exist in isolation. countries/continents to support problem solving.

8. Self manage skills development from the  Uses learning opportunities to learn range of experiences and learning with and from others. opportunities available;  Uses task/activity/work experiences to improve existing skills or develop new skills.

9. Transfer skills and continuous learning  Demonstrates the application of to organisational setting. previously acquired knowledge, understanding and skills, to new activities, areas of work or contexts.

4.2 Specific outcomes and assessment criteria.

Specific Outcomes (Learners can:) Associated Assessment Criteria

1. Explain the role and purpose of financial  Understands and explains the management. interrelationships between decisions concerning investment, financing and dividends.  Understands the role and management of the treasury function.  Identifies and differentiates between the financial objectives set by different companies.  Compares and contrasts the services provided by financial institutions and recommends appropriate providers in different scenarios.  Recommends the sources of capital most appropriate for an organisation.  Evaluates the most appropriate method of funding an asset. Chartered Management Accountant Qualification Page 7 of 20

 Calculates investor ratios and demonstrates the impact of changing capital structures on these ratios.  Calculates the cost of capital and demonstrates the impact of changing capital structures.  Explains the impact of interest rate changes on the cost of capital.  Identifies appropriate methods of finance for trading internationally.

2. Identify and assess the impact of  Evaluates the taxation implications of international aspects on a company’s alternative methods of running an taxation. overseas operation and makes appropriate recommendations.

3. Explain and evaluate the regulatory  Explains the elements of the regulatory framework governing the preparation of framework within which published financial statements and corporate financial statements are produced. reports.  Explains the process leading to the promulgation of a standard practice.  Evaluates the relationship of the Framework for the Preparation and Presentation of Financial Statements to the standard setting process.  Explains the role of the external auditor.  Explains the elements of an audit report and the "qualifications" of that report.

4. Prepare financial statements for  Analyses and explains the relevant companies, for publication in regulatory requirements. accordance with International  Prepares financial statements in a form Accounting Standards. suitable for publication, with appropriate notes.  Prepares accurate cash flow statements in a form suitable for publication, with appropriate notes.  Correctly applies the relevant rules for reporting performance.

5. Analyse and interpret financial  Evaluates financial statements and statements in an international context. prepares a concise and accurate report on the results of the analysis.  Recognises the limitations of analysis based on published financial statements.  Explains the weaknesses of the financial report, which can reduce Chartered Management Accountant Qualification Page 8 of 20

effectiveness in communicating meaningful information to users.  Prepares and correctly interprets segmental analysis, inter-firm and international comparison.

6. Prepare and evaluate plans, budgets  Demonstrates an understanding of the and forecasts for a wide range of need for organisations to prepare plans. sectors.  Calculates future sales and costs using appropriate forecasting techniques and evaluates the results.  Explains and correctly interprets the effect of amendments to budget/plan assumptions.  Understands why it is necessary to identify controllable and uncontrollable costs and effectively communicates reasons to others.  Correctly evaluates performance using fixed and flexible budget reports;  Understands alternative approaches to budgeting and makes appropriate reasoned recommendations.  Evaluates the use of the balanced scorecard.  Understands and explains the behavioural implications of planning and budgeting.  Compares and contrasts cost and profit centres.

7. Evaluate costing and accounting  Critically evaluates and correctly applies systems for a wide range of sectors. alternative costing and accounting systems.  Correctly applies direct product profitability.  Evaluates and correctly applies target costing.  Evaluates and correctly applies life cycle costing.

8. Apply and evaluate techniques used in  Identifies relevant costs, benefits and management decision making for a qualitative factors. wide range of sectors.  Evaluates external pricing strategies using sales variance analysis.  Explains and demonstrates the application of transfer pricing in an international context.  Correctly applies and evaluates profit Chartered Management Accountant Qualification Page 9 of 20

maximisation.  Prepares and correctly interprets reports using Pareto analysis.  Applies the experience and learning curve.  Identifies risk and uncertainty.  Correctly applies decision trees.

9. Evaluate and recommend improvements  Critically evaluates and recommends to the control of organisational activities, appropriate control systems for the resources and the management of management of organisations. quality.  Critically evaluates and recommends improvements to the control of Information Systems including those using Information Technology.  Analyses problems with the management of quality in an organisation and makes appropriate recommendations for improvement.  Critically evaluates the features, benefits and drawbacks of contemporary approaches to the management of quality.  Prepares and communicates appropriate plans for the implementation of a quality improvement programme.

10. Advise on the management of working  Explains the concepts of authority, relationships and the management of power, responsibility and delegation. change.  Analyses the relationships between managers and subordinates.  Analyses situations where problems have been caused by the adoption of an ineffective or inappropriate management style and recommends remedial action.  Understands the problems of maintaining discipline and evaluates the tools available to help a manager achieve it.  Understands the responsibilities of the organisation, its managers and staff in relation to health and safety and advises as to how a manager can promote the health and safety of subordinates.  Identifies and evaluates the determinants of change in organisations and the different levels at Chartered Management Accountant Qualification Page 10 of 20

which change must be managed.  Recommends ways in which appropriate planned change can be implemented at the organisational and departmental levels.  Identifies opportunities to improve the management of change and communicates recommendations to appropriate managers.

11. Evaluate different approaches to  Understands the importance of strategy formulation, identify strategic objectives and objective setting. options and make appropriate  Evaluates and contrasts differing recommendations. corporate frameworks and objectives.  Evaluates an organisation’s mission, goals and aims and recommends appropriate changes.  Evaluates different approaches to strategy formulation, considers options and recommends the most appropriate.  Evaluates the competitive forces in the market place.  Evaluates the importance of international issues including competition, management and regulation.  Evaluates the availability and quality of data for environmental analysis.  Analyses and evaluates the organisation’s customer portfolio  Prepares and evaluates competitor analysis.  Evaluates relationships with customers and suppliers and recommends appropriate changes or improvements.  Evaluates and recommends growth and divestment strategies.  Evaluates and recommends response strategies to competitors’ actions.  Prepares and evaluates strategic scenario plans.  Evaluates and recommends appropriate changes in organisational structure.  Applies appropriate investment techniques to marketing and strategy decisions.  Analyses and interprets the risks facing an organisation. Chartered Management Accountant Qualification Page 11 of 20

 Evaluates alternative risk management strategies and makes appropriate recommendations.

12. Evaluate the role of management  Identifies and evaluates differing accounting techniques in a changing approaches to the design and business environment. operation of the management accounting systems and makes appropriate recommendations.

13. Evaluate performance measurement  Evaluates and prepares accurate systems for an organisation. multidimensional models of performance measurement.  Considers the effect of regulation on performance and explains conclusions.  Evaluates the use of shareholder value analysis.  Identifies problems in performance measurement and recommends solutions.  Evaluates performance from different time and stakeholder perspectives and reports findings.

14. Evaluate and interpret the financial  Identifies appropriate actions for implications of strategies within improving financial performance organisations.  Correctly assesses the attainment of financial objectives.  Analyses and correctly interprets the risk implications of business plans.  Analyses and correctly interprets company accounts of customers, competitors and target companies.  Identifies and correctly interprets the impact of internal and external constraints on financial strategy (e.g. funding, regulatory bodies, investor relations, strategy, and economic factors).

15. Evaluate advanced investment  Evaluates domestic and international proposals. investment proposals and makes appropriate recommendations.  Recommends appropriate methods of funding investments.  Correctly interprets the likely impact of changing exchange rates and inflation rates on investments.  Calculates and correctly interprets real options (abandonment, follow-on, Chartered Management Accountant Qualification Page 12 of 20

deferment).  Correctly calculates the tax shield of debt finance on investments.  Identifies and describes procedures for the control of international investments.  Recommends appropriate investment decisions when capital is rationed.

16. Evaluate the use of information  Identifies and evaluates appropriate systems/information technology to IS/IT systems and recommends improve the competitiveness of an changes to meet the strategic organisation. information needs of an organisation  Evaluates the use of IS/IT to gain competitive advantage and recommends appropriate strategies.  Evaluates the importance of process innovation and reengineering.  Evaluates the strategic benefits of IT and advises managers on the development of an IS/IT/IM strategy.

5.0 Total credits required.

930 credits

6.0 Minimum credits required at specific levels or maximum credits when these exceed the minima specified in Regulation 8 or 9

6.1 Level at which the qualification is pegged

NQF Level 7

6.2 Credits required for fundamental, core and elective learning

Learning Programme Practical Work Experience: (Education): (Training):

Fundamental learning: 102 credits 96 credits Core learning: 252 credits 480 credits Elective learning: Not applicable Not applicable Chartered Management Accountant Qualification Page 13 of 20

6.3 Credits required at specific levels

6.3.1 The Learning Programme

Foundation (NQF Level 5): 21 credits Paper 1 - Financial Accounting Fundamentals (FAFN) – Level 5 21 credits Paper 2 - Management Accounting Fundamentals (FMAF) – Level 5 20 credits Paper 3a - Economics for Business (FECB) – Level 5 20 credits Paper 3b - Business Law (FBLW) – Level 5 20 credits Paper 3c - Business Mathematics (FBSM) – Level 5

Intermediate (NQF Level 6) 21 credits Paper 4 - Finance (IFIN) - Level 6 21 credits Paper 5 - Business Taxation (IBTX) - Level 6 21 credits Paper 6 - Financial Accounting (IFNA) - Level 6 21 credits Paper 7 - Financial Reporting (IFRP) - Level 6 21 credits Paper 8 - Management Accounting – Performance Management (IMPM) -Level 6 21 credits Paper 9 - Management Accounting – Decision Making (IDEC) - Level 6 21 credits Paper 10 - Systems & Project Management (ISPM) - Level 6 21 credits Paper 11 - Organisational Management (IORG) - Level 6

Final (NQF Level 7) 21 credits Paper 12 - Management Accounting- Business Strategy (FLBS) - Level 7 21 credits Paper 13 - Management Accounting- Financial Strategy (FLFS) - Level 7 21 credits Paper 14 - Management Accounting- Information Strategy (FLIS) - Level 7 21 credits Paper 15 - Management Accounting- Case Study (FLCS) - Level 7

6.3.2 The Practical Work Experience

96 credits Basic Experience – Level 5 144 credits Core Experience – Level 6 144 credits Core Experience – Level 7 96 credits Supplementary Experience – Level 6 96 credits Supplementary Experience – Level 7

6.3.3 Summary of Total Credits:

Level 5 198 credits Level 6 408 credits Level 7 324 credits Total 930 credits Chartered Management Accountant Qualification Page 14 of 20

7.0 Integrated assessment to ensure that the purpose of the qualification is achieved.

7.1 The learning Programme

Summative assessment is conducted by CIMA Examiners at Foundation, Intermediate and Final level through a CIMA International Examination in each of the 17 subjects.

7.2 The Practical Work Experience.

Formative assessment is conducted by CIMA Assessors to provide the learner with feedback on experiential development towards the qualification.

Summative assessment is conducted by CIMA Assessors to measure learner experience.

7.3 Integration.

Formative and summative assessments are integrated to provide a coherent indication of the learner’s ability, skill and experience.

8.0 Articulation possibilities.

8.1 Articulation into the qualification.

Learners with prior learning and qualifications can normally enter the learning programme at an appropriate level:

Entry point on CIMA Entry Qualifications: Learning Programme:

1. Intermediate level  Relevant Degrees, National Diplomas, Higher National Diplomas and Bachelor of Technology Degrees in Commerce, Accounting and Internal Audit, and Cost and Management Accounting.  Accounting Technician through the Competency Based Education and Training Programme administered by the Association for the Education and Training of Accountants.  Membership of other professional institutions such as Institute of Chartered Secretaries and Administrators, the Institute of Administration and Commerce.

2. Final level  Bachelor of Commerce Honours Degree in Management Accounting,  Membership of other relevant professional bodies such as the South African Institute of Chartered Accountants and the Association of Chartered Certified Accountants Chartered Management Accountant Qualification Page 15 of 20

8.2 Articulation from the qualification.

Learners who have achieved the learning outcomes and passed all of the examinations in the learning programme (Foundation, Intermediate and Final level) can: (a) register to sit the Final level examinations of other professional institutions such as the Association of Chartered Certified Accountants; (b) register as members of other professional institutions such as the Institute of Certified Book-keepers, the Institute of Commercial and Financial Accountants

Qualified Chartered Management Accountants can: (a) register as members of other professional institutions such as the Institute of Chartered Secretaries and Administrators, Institute of Commercial and Financial Accountants, the Institute of Administration and Commerce (b) gain entry to relevant Masters degree learning programmes.

Appendix A to this submission includes a diagram showing articulation opportunities.

9.0 Criteria for the registration of assessors

9.1 The Learning Programme.

Assessors (Examiners and Markers) are appointed by CIMA in accordance with the requirements of the CIMA quality management system for ‘Marking and Moderating Examinations’. Appendix A to this submission includes an outline description of the ‘CIMA Marking and Moderating Procedures’.

Note: CIMA has prepared its quality management system for ‘Marking and Moderating Examinations’ in accordance with the requirements of ISO 9000. This will be assessed for formal ISO accreditation in September 2000.

Assessors are appointed by CIMA in accordance with the requirements of the CIMA quality management system for ‘Assessment of Applications for Membership’.

Workplace supervisors are required to attest to the validity of the learner's practical work experience gained during employment and described within their CIMA Career Profile.

10.0 Moderation.

10.1 The Learning Programme.

Moderators are appointed by CIMA in accordance with the requirements of the CIMA quality management system for ‘Marking and Moderating Examinations’. Appendix A to this submission includes an outline description of the ‘CIMA Marking and Moderating Procedures’. Chartered Management Accountant Qualification Page 16 of 20

Note: CIMA has prepared its quality management system for ‘Marking and Moderating Examinations’ in accordance with the requirements of ISO 9000. This will be assessed for formal ISO accreditation in September 2000.

Moderators (Second Assessors) are appointed by CIMA in accordance with the CIMA quality management system for the ‘Assessment of Applications for Membership’.

11.0 International comparability.

The CIMA qualification is recognised in more than 100 countries as a leading qualification in management accounting that has a rigourous assessment requirement.

The qualification can be accessed by learners of all nationalities and from countries all around the world. Current holders of the qualification and learners working towards the qualification are based in more than 130 countries.

CIMA is a senior member of IFAC (International Federation of Accountants). IFAC is an organisation of national professional accountancy organisations, that represent accountants employed in public practice, business and industry, the public sector, and education, as well as some specialised groups that interface frequently with the profession. Currently, it has 153 member bodies in 113 countries, representing 2 million accountants.

A CIMA representative is currently chairperson of IFAC’s Financial and Management Accounting Committee. CIMA also represents the United Kingdom on the IFAC Information Technology Committee.

The international comparability of the CIMA qualification is supported by the adoption and use of the International Accounting Standards within the learning programme.

12.0 Rules governing the award of the qualification.

Learners must: (a) achieve the learning programme outcomes, as described within the ‘CIMA Beyond 2000 Syllabus’, and obtain a pass in all subject examinations at Foundation, Intermediate and Final level (a total of seventeen examinations) and (b) complete a minimum of three years of relevant practical work experience and achieve the training experience outcomes, as described within the CIMA Practical Experience Requirements.

Learners are required to achieve 50% of the available marks in each examination, to gain a pass.

The qualification may be achieved in part through the recognition of prior learning. This recognition is given as: (a) exemption(s) from the relevant CIMA examination(s) for the achievement of units/elements of other qualifications which have similar content; Chartered Management Accountant Qualification Page 17 of 20

(b) credited qualifying experience for previously acquired practical work experience that meets the CIMA Practical Experience Requirements.

Note: All learners are required to sit the four Final level examinations, irrespective of the extent of their prior learning.

13.0 Undertaking of submission of qualification to SGB process (where applicable).

The signing below by the person making the submission constitutes an undertaking that the qualification contained in this submission will be submitted to an SGB process prior to 30 June 2003. Where this is not applicable, please indicate “Not Applicable”.

14.0 Name of applicant.

The Chartered Institute of Management Accountants

Name of authorised person making submission.

Ms Samantha Louis, Divisional Director, CIMA South Africa Division.

Signature…………………………………………..Date of submission…………………… Chartered Management Accountant Qualification Page 18 of 20

Appendix A

Articulation Possibilities

Entry into CIMA The pathway to the Qualifications CIMA Qualification after CIMA

Chartered  Membership of Management other professional Accountant bodies e.g. ICSA, CFA.  Masters Degrees

Passed Finalist (final exams completed, practical experience record not yet submitted)

 B Comm Honours  Other professional in Management bodies’ Accounting Final level examinations e.g.  Chartered (final qualifying ACCA Accountant examination)  Membership of other professional bodies e.g. ICB

 AETA Competency Intermediate level Based Education and Training Programme

 Relevant B Tech degree/Higher National Diploma  Degree/National Diploma  Professional qualifications e.g. ICSA, ACCA

 No school leaving qualification Foundation level  Matric exemption  Mature entry( over 25 years old) Chartered Management Accountant Qualification Page 19 of 20

Appendix B

Marking and Moderating Procedure

CIMA’s ‘Marking and Moderating Procedures’ are fully documented as part of the Institutes quality management system. These notes are intended to provide an overview only of the procedure and in themselves, do not form part of the quality management system.

Overview.

All CIMA Examiners, Markers and Moderators are professionally qualified and specialists in their respective subject areas.

Approximately 200 Markers are involved in the assessment of the CIMA examinations at each sitting. Each Marker is tied to a specific subject marking team, headed by the Examiner for that subject.

Markers are recruited through external advertisement and on recommendation of an Examiner. Upon receipt of an application form and prior to appointment, those Markers deemed to have the appropriate experience are required to complete ‘specimen marking’, which is reviewed blind, by a small sub-group. Those Markers meeting the criteria and deemed satisfactory are invited to attend a training day. Upon successful completion of training, Markers are formally appointed to the marking team. Markers’ performance is reviewed annually by committee.

Indicative answers to examination questions and a marking scheme are prepared in advance by each subject Examiner for their subject examination (which undergoes a CIMA moderation process as part of the quality management system), to ensure consistency in the marking of candidates examination scripts by the team of subject markers.

Within each examination diet, there are several quality control checks put in place to ensure consistency and high standards across the marking team. Every Marker is required to attend a Markers’ meeting, which is held one week after the examination sitting, where common scripts are marked and amendments are made to the marking scheme in light of student approaches. Professionally qualified independent ‘Observers’, appointed by CIMA, attend these meetings to ensure that the correct procedures are followed. After the meeting, Examiners continue to monitor Markers’ work to ensure that consistency is maintained.

CIMA also appoints Marking Moderators who are external to the process and remark samples of scripts, as initial marking is taking place, to identify any potential or actual problems. Dummy scripts are also inserted into the marking process undertaken by marking teams, to monitor consistency. Examiners produce reports detailing the sampling work that they have undertaken and also recommend changes to Markers’ work if they perceive that a Marker has been marking consistently ‘out of line’. Institute staff also monitor consistency and Markers’ averages on a diet-by-diet basis.

At the end of the marking process for each diet and before results are released, marks are reviewed by CIMA’s Assessment Panel. Queries about Markers’ averages, or Chartered Management Accountant Qualification Page 20 of 20 unusual pass rates are raised at this point. Examiners may be contacted and asked to ‘revisit’ certain marks. It is only on the agreement of this group that results can be forwarded to the ‘Adjudication Panel’. This Panel looks at all cases where students have asked for mitigating circumstances to be taken into account. It also considers any problems with examination centres that may have had an impact on a student’s performance, as well as considering instances of unfair practice e.g. cheating by candidates. Upon the agreement of the Adjudication Panel, results are forwarded to the ‘CIMA Education and Examination Board’, where final results are formally agreed for release.

All issues relating to the quality of the setting and marking processes are reviewed by the ‘Examination Review and Quality Assurance Group’, which reports directly to the ‘CIMA Education and Examination Board’.