Asavela Loleka

Compliance and Reporting:

• Ensure compliance with IFRS and monitoring of new accounting policy developments.
• Preparation of month end management accounts and annual/ interim statutory accounts.
• Responsibility for timely delivery of management accounts with full understanding and explanation of drivers and corrective actions required and who needs to take them.
• Reconciliation of management accounts to statutory accounts.
• Ensure adherence to regulatory requirements and internal controls.
• Preparation of Annual Financial Statements following International Financial Reporting Standards (IFRS).
• Collate data for annual integrated report.
• Provide support during external audits conducted by auditors from head office.

Budgeting:

• Provide administrative and technical support in the preparation of the annual budgets.
• Develop, manage and maintain budget templates for distribution to Executives.
• Formulate and review budgeting guidelines, based on the Strategic Plan of organisation.
• Prepare, review and consolidate budgets per Cost Centre into Departmental, Divisional and Organisational budgets and present consolidated budgets to the Senior Manager and CFO.
• Capture the approved budget in the financial system and distribute to all Divisions and National Office departments.
• Produce monthly variance reports, highlighting cash flow implications in comparison to the budget, and submit them for Executive review.

Financial Control/ Cost Control:

• Prepare weekly expenditure reports.
• Monitor weekly expenditure against budget.
• Develop and report on Scheme’s procurement spend, focusing on BEE levels and Black Ownership.
• Track and report incorrect allocation in the GL

Monthly Management Account Compilation and Reporting:

• Prepared and compile monthly management accounts.
• Performed reconciliations for month-end close procedures.
• Analysed performance against budget and prior year.
• Assisted with the preparation of financial statements in accordance with generally accepted accounting principles (IFRS).
• Coordinated audit activities by providing necessary information and preparing requested documentations.

Review and Reconciliation:

• Reviewed financial records, including income statements and balance sheets, to ensure accuracy.
• Performed reconciliations of accounts payable and accounts receivable.
• Prepared monthly bank reconciliations and resolved discrepancies in a timely manner.
• Reconciled intercompany transactions between entities within the group and ensured timely resolution of differences identified in reconciliation process.
• Reviewed payment packs before releasing payments on the bank module, to ensure accuracy.
• Managed fixed assets register ensuring accurate tracking of all additions, disposals, transfers.

Statutory Reporting:

• Handled all SARS requests efficiently and accurately.
• Ensured compliance with applicable rules and regulations related to taxation.
• Reviewed VAT calculations and reconciliations and filed VAT returns to SARS.
• Assisted with VAT audits by providing required documentation and information.
• Prepared and filed income tax and provisional tax to SARS.
• Prepared final returns for filing with SARS within deadlines.
• Calculated Gaming levies, and submitted Gaming levies returns to the gambling board (regulatory body).

Auditing:

• Prepared audit budgets and monitored progress against budgeted hours for each engagement assignment.
• Developed and managed audit plans tailored to the specific needs of each client organisation.
• Managed multiple concurrent engagements while adhering to professional standards.
• Liaised with the executive members of clients at the planning, during and at concluding stages of an audit engagement.
• Prepared detailed audit reports outlining audit results and communicated them to clients in a timely manner.

Financial Statements:

• Drafted financial statements in accordance with relevant accounting framework.
• Liaised with relevant director regarding the financial statements

Taxation:

• Calculated VAT, provisional and annual taxes for clients.

Client portfolio management:

• Developed and maintained good relationships with clients.
• Maintained good level of knowledge about clients’ business activities and challenges.
• Record and communicate this knowledge on the client files to all staff and management dealing with the client.
• Dealt with client queries efficiently.

Team Management:

• Lead teams during fieldwork engagements at client sites, ensuring completion within established timelines.
• Allocated audit work to accounting trainees.
• Provided on-going ‘on-the-job’ training and mentoring to team members.
• Reported regularly to directors on the progress of the team.

Review Team’s Output

• Reviewed and finalised audit files.
• Reviewed annual financial statements
• Reviewed TSR (Technical Skills Review), PSR (Professional Skills Review) and ANA (Assessment Needs Analysis) for the team’s SAICA trainee contracts

Administration:

• Monitored own productivity to ensure that it meets the expected standard.
• Prepared detailed timesheets and reviewed for approval.
• Issued invoice instructions.

• Conducted interviews and walkthroughs with accounting personnel to understand internal processes and procedures.
• Assessed internal control design effectiveness and reliability of financial reporting systems.
• Conducted risk assessments to identify potential areas of fraud or non-compliance.
• Performed analytical reviews of financial data to identify trends or anomalies.
• Documented audit findings, provided recommendations for process improvements.
• Prepared detailed audit reports on results obtained from fieldwork activities.
• Monitored progress made by clients in implementing corrective actions recommended from previous audits.
• Advised clients on best practices in terms of corporate governance and risk management policies.
• Collaborated closely with other team members to develop effective audit plans.
• Interacted regularly with clients to discuss audit progress, findings, and recommendations.
• Analysed accounting records such as general ledgers and trial balances to assess accuracy of reporting.
• Reviewed client's documents such as contracts, invoices, purchase orders, for accuracy and completeness.
• Reviewed company financial statements for accuracy, completeness, and compliance with legal and regulatory requirements.
• Evaluated the adequacy of disclosure notes included in financial statements.
• Ensured timely completion of all assigned tasks within set deadlines.

• Performed monthly reconciliation of fixed asset register to the general ledger accounts.
• Conducted physical inventory counts of fixed assets on a periodic basis.
• Reconciled differences between actual and recorded costs of newly acquired assets.
• Created reports to track additions, disposals, transfers and impairments of fixed assets.
• Assisted in the preparation of financial statements related to fixed assets.
• Provided guidance on best practices in maintaining an effective control environment over fixed assets.
• Verified accuracy of data entered into various accounting systems related to fixed assets.
• Monitored depreciation calculations and updated book values for all fixed assets.
• Researched technical accounting issues relating to recognition, measurement or disclosure requirements for long-term investments or leases under IFRS guidelines.
• Maintained up-to-date information about location and condition of each asset within the organization's portfolio.
• Reviewed supporting documentation related to capital expenditures prior to booking into the general ledger.
• Ensured accurate accounting records were maintained for all capital projects.
• Prepared audit schedules for review by external auditors.