Sandile Ntombela

• Lead audit planning, execution, and completion of the audit file, ensuring compliance with IFRS, FRS 101, FRS 102, UK GAAP, and International Standards on Auditing (ISA).
• Lead meetings to discuss audit status including deliverables with the team and audit client, bringing to attention the areas with potential overruns
• Calculated and justified planning and performance materiality in accordance with the revised ISA 600 for group audits
• Evaluate risks as per revised ISA 315 which amongst others included, revenue recognition, inventory, leases, related parties and compliance with laws and regulations.
• Tested complex areas such as going concern, journals, revenue, related parties and impairment of CGU's.
• Oversee audit teams, delegate tasks, and provide training and coaching to audit trainees on the job.
• Reviewing and referencing of the financial statements ensuring that they are in line with the UK reporting standards
• Documented the key business process and related IT controls implemented
• Assess internal controls around client reporting system including supporting controls and considered whether they can be relied upon as part of the audit strategy
• Assist in the improvement of the audit file through robust documentation and bringing efficiencies on the job through the audit test whilst ensuring that test objectives are being met
• Collaborate with clients to resolve issues efficiently and provide commercially valuable insights on process improvements.
• Manage engagement timelines and budgets, maintaining high audit quality standards under tight reporting deadlines.
• Arrange file review slots for both the audit manager and partner on the job, ensuring that sections are ready for their review
• Support audit partners in building client relationships by ensuring good service delivery on audits
• Assist audit manager and senior manager on the job develop feedbacks to junior members of the team

• Identified and evaluated the risks pertaining to the financial information system of each entity, Identified and documented the key internal controls identified in the key business processes (including IT related controls)
  implemented
• Documented management letter points -Audit findings to be discussed with management
• Performed reconciliation of premiums received from policy holders and claims paid
• IAS 7 - Performed cash flow statement tie out including the assessment of cash and cash equivalents. Including assessment of compliance with FICA.
• IAS 16 - Performed reconciliation of fixed assets and intangible assets including testing additions and disposals, calculating depreciation/Amortization and performing a reassessment of useful lives
• Monitored execution of required follow-up activities on audit outcomes for timely realization of improvements.
• Communicated with all levels of management to address areas of concern and change work practices to fulfill audit requirements
• Evaluated work of audit juniors for quality and compliance with audit standard
• Developed good understanding of client to adapt approach and communication leading to maximum client satisfaction.
• Reviewed and updated existing audit tests program's and testing procedures.
• Identified potential problems and areas of risk and used initiative to proactively propose solutions.
• Created and maintained good quality working papers covering control evaluation records, test summary sheets and system notes.
• Liaised with manager on audit plan, extent and duration of work to map out workflow for maximum efficiency.
• IAS 24 related party assessments, including sending out of confirmation to the group
• Tested group companies which included a subsidiary acquired and also intercompany transactions and balances
• Evaluated each of the entity's financial investments and sent out Investments confirmations as well as the ISAE 3402 Reports request
• Reviewing and referencing of financial statements in line with IFRIS
• Employee costs - Payroll reconciliation, reconciliation of employees taxes to SARS EMP201s, EMP501s and the statement of accounts.

Exposure to the following sectors:

• Insurance, Manufacturing, Wholesale Trade and NGO's

Responsibilities:

• Obtained an understanding of each entity and its environment including internal controls
• Evaluated the risk of material misstatement as required by IA 315 for all financial statement elements
• Calculated and justified planning and performance materiality
• Designed and selected effective and efficient procedures, executed the audit plan and documented and evaluated results for each of the financial statement elements and completed the engagement
• Prepared information for meetings with the team and the client, this included deliverables and any potential delays on the audit
• Coached junior team members on the job and lead audit status meetings with the manager and the client
• Evaluated potential reportable irregularities and management letter points identified during the audit to be discussed with the client
• Prepared audit budgets and performed sensitivity analyses on each project profitability, and analyzed and interpreted project budget variances
• Evaluated each of the entity's financial situation, Monitored cash flows of each entity against the previous year, and future cash flow forecasts, performed sensitivities for going concern assessment
• Evaluated each of the entity's working capital as part of the going concern assessment
• Evaluated each of the entity's capital investment decisions, and valued a business unit (division) or components of a business including but not limited to investment property and goodwill
• Calculated and evaluated income tax payable and prepared or evaluated income tax returns for legal entities, and calculated other taxes payable and prepared or evaluated appropriate returns including but not limited to VAT
• Identified and evaluated the risks pertaining to the financial information system of each entity, Identified and documented the key internal controls (including IT related controls) implemented in each entity
• Evaluated internal controls design and effectiveness of each entity, and
• Conducted governance reviews in accordance with appropriate governance standards applicable to each entity.