Competition III: Competition III competitions are a type of International competition that is commonly called the individual event finals. Gymnasts who win individual event finals at a World Championships or the Olympics can say they are currently the best gymnast in the world on that gymnastics event.

To qualify for Competition III, the best 8 (occasionally 9 if there is a tie or scoring error) gymnasts qualify to individual event finals from a Competition IB team competition.  By current rules, usually no more than 2 gymnasts per country are allowed in each individual event final.

In International competition now, vault finals is the only event that is not competed exactly the same as it is in Competition IB and Competition II where gymnasts only do one vault. In Competition III, each gymnast must perform two different vaults from two different categories of vault and the scores are averaged to arrive at the final score.

Specialists are now allowed in International gymnastics competitions. Gymnasts who do not do all the events are called specialists and rule changes now allow specialists into the biggest gymnastics competitions in the world. This has lead to a few new trends in the sport. Smaller countries now have gymnasts who are specialists and have won medals at the largest competitions. This has definitely allowed more smaller countries and gymnasts from smaller countries to medal as specialists in individual event finals at World Cups, World Championships and the Olympics.