Open University accreditation
General credit ratings
The Open University considers general credit rating applications from external bodies seeking recognition of their qualifications. These credit ratings are awarded on a points based system that recognises both the level and breadth of a qualification. The tariff used assumes that a full-time student at postgraduate level would receive 180 credit points in completing a Masters. The Open University has endorsed the quality, amount and level of learning involved with our professional qualifications and have given formal recognition that the Institute’s professional qualifications are postgraduate level qualifications with general credit ratings as shown below:
IIA Diploma in Internal Audit Practice - 60 points at postgraduate level
IIA Advanced Diploma in Internal Auditing and Management - 60 points at postgraduate level
IIA Qualification in Computer Auditing - 30 points at postgraduate level
What this means to qualified members
Qualified members can use these credit ratings to support an application for study of a further qualification that they wish to undertake at a higher education institution. Confirmation of these credit ratings are given on the Open University’s website at www.open.ac.uk/credit-rating, where selecting the link to General Credit Ratings will take you to a listing noting the Institute of Internal Auditors – UK and Ireland. Here you can download a Certificate of General Credit that may be presented to the higher education institution that you wish to study at. The higher education institution may then choose to accept this credit towards a qualification that they offer. The credits are cumulative, so if you have achieved both the Diploma (60 credits) and the Advanced Diploma (60 credits), for example, you may seek up to 120 credits towards a Masters (180 credits are required for a full Masters).
Members should note that they could elect to accept just a proportion of the credit sought. This will depend upon the relevance of the study to be undertaken, acceptance will vary from establishment to establishment and any award is made at the discretion of the higher education institution that you approach.
The credit ratings awarded by the Open University are based on the academic content of qualifications only and do not take into account the interpersonal skills or professional competencies also developed. The credit ratings can therefore be broken down to the individual theory modules. As noted above, It is therefore possible that credit may only be considered for those theory modules that were actually undertaken by the member. Members therefore may not get credit for theory modules where exemptions were gained from the IIA.
For example, the IIA Diploma consists of five theory modules, each rated at 12 points. Where a member was given exemption to the Organisation and Management module and the Accounting and Financial Systems module, it may be the case that they would only gain 36 points for the other three modules completed.
The credit ratings are valid for awards made since 1996. If a member’s award is made before this date then the IIA would recommend that the process offered here may still be used but that members should bear in mind that their awards may not be considered.
In addition to the opportunities with other higher education institutions, members can also take advantage of awards of specific credit towards particular Open University distance-taught qualifications. An award of specific credit effectively gives the learner a guarantee of the award of credit towards one particular Open University qualification, subject to the usual rules for that qualification. Further information can be found in the professional/vocational study section of the Open University’s Credit Transfer website at http://www3.open.ac.uk/credit-transfer/index.shtm.
In order to gain credit at any institution you would also be required to present evidence of your award from the Institute. The Institute would be happy to support any application for credit and we should be contacted at studentsupport@iia.org.uk if any assistance is required.
Frequently asked questions
Why has the IIA Certificate in Internal Audit and Business Risk not been accredited?
The IIA Certificate in Internal Audit and Business Risk is not eligible in the OU’s scheme because of its model of assessment.
Why are awards made before 1996 not valid?
At the time of applying for accreditation, the Open University’s policy was that they would only consider awards dating back to 1996. However, the IIA believes that this credit rating information may still be of use to members who received their awards prior to 1996.
How can I obtain detailed evidence of my awards from the Institute?
Upon request, members will be supplied with a statement of their award from the Institute that will confirm the examinations passed and the total credit points awarded.
How much will this cost me?
There is no charge for this service.
What qualifications can specific credit be gained for at the Open Unviersity?
Credit may be gained towards the Open University general degree. As time goes by, named awards from the Open University will also be published as available as students apply for credit to other named awards.
How may credits can I gain in all?
The credits are cumulative, so that if you have achieved both the Diploma (60 credits) and the Advanced Diploma (60 credits) you may seek up to 120 credits towards a Masters (total credits required for a full Masters 180).
What credit can I expect to gain towards my MBA?
The rules regarding the MBA are governed by AMBA the Association of MBAs. They have made a ruling that a maximum of 20% of an MBA can be made up of pre-owned credits.
For information, the Open University have clarified that they will limit such applications to a maximum award of 30 credits. In addition, depending on the previous qualifications used to claim the 30 credits, certain optional modules may be excluded. For example, someone with an accounting qualification claiming 30 credits towards the MBA would not be eligible to elect to do optional modules in accounting if this meant a duplication of the previous award.