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BOARD EXAMINATION SUMMARY GUIDE Note: A more detailed examination guide will be

BOARD EXAMINATION SUMMARY GUIDE Note: A more detailed examination guide will be made available to candidates who have successfully applied and registered for the Board Exam. This guide is a summary only of the more detailed guide. INTRODUCTION Candidates who wish to be awarded the Compliance Practitioner (CPrac) designation will have to satisfy certain criteria of knowledge, practical skills and work experience. Board Examination I tests a candidate’s knowledge and ability regarding the practice of compliance risk management. STRUCTURE OF THE EXAM The exam consists of 2 parts that are written in the same sitting. The exam is structured as follows: Description Question type Estimated mark allocation Estimated time allocation Part I T ests the knowledge that a compliance practitioner should have Multiple Choice questions 70 2 hours Part II T ests the practical skills that a compliance practitioner should be able to apply Open ended (‘case studies’) 30 1 hour Total 100 3 hours STUDY MATERIAL The exam is largely based on compliance knowledge and work experience. The following sources were used:  Generally Accepted Compliance Practice (GACP)1 - principles, standards and guidelines, version January 2013  Code of Ethical and Professional Conduct 1 The GACP is obtainable from the Members area on the Institute’s website if you do not have a copy. Please contact the Institute if you experience any problems.  Legislative Process in South Africa (2 documents of 40 pages are provided to candidates once they have successfully registered) COMPETENCY FRAMEWORK The exam is based on the following competency framework, i.e. candidates will be expected to have the following knowledge and demonstrate practical skills: Part I - Multiple Choice Questions (MCQ) Knowledge Competencies (KC) KC1 Understand governance as a core principal of compliance KC2 Understand the compliance policy statement KC3 Understand the responsibility of management in respect of the compliance policy KC4 Understand how a compliance function should be established KC5 Understand how to determine the status of a compliance function KC6 Understand the need for independence of the compliance function KC7 Understand the roles and responsibilities of the compliance function KC8 Understand how the role of the head of compliance should be assigned KC9 Understand the fit and proper requirements of a compliance professional KC10 Understand the need for adequate resources of the compliance function KC11 Understand how compliance professionals should be appointed and terminated KC12 Understand the compliance culture of the enterprise KC13 Understand outsourcing of the compliance function KC14 Understand the need for a regular independent review of the compliance function KC15 Understand materiality as a core principle of compliance KC16 Understand the CI Code of Ethical and Professional conduct KC17 Understand the key definitions underlying generally accepted compliance practice Part II – Open ended Questions (Case studies) Part I - Multiple Choice Questions (MCQ) Knowledge Competencies (KC) Practical Skills competencies (PS) PS1 Understand the compliance risk management process PS2 Understand how to analyse regulatory requirements PS3 Understand how to perform enterprise-wide risk management PS4 Understand how to perform compliance monitoring PS5 Understand how to perform compliance reporting PS6 Understand the principles of corporate governance PS7 Understand the regulatory environment PS8 Understand how to achieve effective change management PS9 Understand the functioning of the control framework uploads/Management/ guide - 2023-05-31T010120.724.pdf