FRANK TARANGANAYI
Audit Professional - Eligible To Register As A Chartered Accountant (SA)
Gauteng
Summary
Dynamic audit professional eligible for registration as a Chartered Accountant (SA), having successfully completed the 2025 Assessment of Professional Competence (APC). Extensive external audit experience encompasses regulated banking, insurance, microfinance, investment holding, and public sector development finance sectors. Demonstrated expertise in IFRS 9 expected credit loss models, IFRS 17 insurance contracts, accounting estimates, and group audit engagements. Progressed to Auditor-in-Charge roles, overseeing planning, scoping, supervision, and finalization of audits on complex multi-entity engagements.
Overview
3
3
years of professional experience
1
1
Language
Work History
Auditor-in-Charge
Ithala SOC Limited
- Led audit planning, scoping and materiality assessment for loans and customer deposits
- Performed detailed audit of loans and advances including granting, disbursements, collections, restructures, write-offs, staging and collateral
- Reviewed IFRS 9 model-based expected credit loss methodology
- Audited interest income, early settlements and fee recognition
- Tested customer deposit balances and related interest expense
- Performed test of controls and substantive testing procedures
- Conducted journal entry testing and accounting estimates review
- Reviewed annual financial statements and regulatory disclosures
- Sector: Banking / Financial Services Provider
- Role: Auditor-in-Charge (Final Year)
Auditor-in-Charge
African Alliance / Select Group (Pan-African Operations)
- Led audit planning and risk assessment across multiple jurisdictions
- Audited loans and advances including origination fees, collections, rollovers, restructures and write-offs
- Reviewed IFRS 9 staging and expected credit loss methodologies
- Audited interest income, fee income and investment income
- Reviewed accounting estimates including ECL and deferred tax
- Performed IPE testing and journal entry testing
- Prepared and reviewed cash flow statements
- Presented audit findings to management and senior audit leadership
- Sector: Microfinance & Financial Services (Malawi, Kenya, Eswatini, Lesotho, Uganda, South Africa)
Auditor-in-Charge
New Era Life Insurance SOC Ltd
- Assisted in transition from IFRS 4 to IFRS 17
- Audited insurance contracts, reinsurance arrangements and investment contracts
- Reviewed actuarial valuations including incurred claims and IBNR
- Tested insurance revenue, insurance service expenses and insurance finance expenses
- Audited investment portfolios and expected credit losses
- Performed going concern assessment during regulatory licence withdrawal process
- Led audit execution and finalisation
- Sector: Long-Term Insurance
Auditor-in-Charge
National Empowerment Fund (GRAP Framework)
- Led planning, scoping and materiality determination
- Designed GRAP-aligned audit procedures for originated loan portfolio
- Headed loans audit team covering impairment, staging, restructures and finance leases
- Coordinated with component auditors on subsidiary audits
- Audited NEF Corp including investment property, interest-bearing liabilities and related party balances
- Performed consolidation procedures and annual financial statement tie-ups
- Cleared Engagement Quality Review (EQR) notes
- Reviewed FICA compliance
- Sector: Public Sector Development Finance
Mergence Group (Capital, Holdings, Properties, QVEST)
- Audited investment property measured at fair value
- Tested deferred tax and temporary differences
- Reviewed intercompany loans and related party balances
- Audited share capital and reserves
- Performed revenue, cost of sales and operating expense testing
- Participated in planning and annual financial statement review
- Sector: Investment Holding & Property
Superminds Trading (Pty) Ltd
- Audited investment property under fair value model
- Reviewed deferred tax calculations
- Tested trade and other payables and operating expenses
- Reviewed directors’ emoluments disclosures
- Sector: Property Investment
ZA Central Registry (NPC)
- Assisted in completion and finalisation of audit file
- Performed annual financial statement tie-ups and disclosure review
- Sector: General Assurance
Audit Consultant
SNG Grant Thornton – South Africa
02.2023 - Current
- Member of the Financial Services and Public Sector portfolio, working on statutory audits of regulated entities across banking, insurance, development finance and investment sectors.
- Progressed from trainee to Auditor-in-Charge on multiple engagements.
- SAICA Trainee Accountant (2023 – 2026)
Education
Postgraduate Diploma - Accounting Science
University of Johannesburg
01-2022
Bachelor - Accounting Science
University of Johannesburg
01-2021
Skills
IFRS 9 – Financial Instruments & Expected Credit Loss
IFRS 17 – Insurance Contracts
IFRS 13 – Fair Value Measurement
IAS 40 – Investment Property
IAS 12 – Deferred Tax
GRAP Reporting Framework
Technical accounting
Teamwork and collaboration
Problem-solving abilities
Excellent communication
Critical thinking
Financial statements review
Excel proficiency
Accomplishments
- Awarded Best SNG Grant Thornton First Year Trainee – 2023
- Consistently entrusted with Auditor-in-Charge responsibilities on complex engagements
EDUCATION & PROFESSIONAL STATUS
- Eligible to register as a Chartered Accountant (SA)
- Assessment of Professional Competence (APC) – Passed, 2025
- Initial Test of Competence (ITC) – Passed, 2023
ADDITIONAL INFORMATION
- Nationality: Zimbabwean
- Driver’s Licence: Yes
- Open to international relocation
Timeline
Audit Consultant
SNG Grant Thornton – South Africa
02.2023 - Current
Auditor-in-Charge
Ithala SOC Limited
Auditor-in-Charge
African Alliance / Select Group (Pan-African Operations)
Auditor-in-Charge
New Era Life Insurance SOC Ltd
Auditor-in-Charge
National Empowerment Fund (GRAP Framework)
Mergence Group (Capital, Holdings, Properties, QVEST)
Superminds Trading (Pty) Ltd
ZA Central Registry (NPC)
Bachelor - Accounting Science
University of Johannesburg
Postgraduate Diploma - Accounting Science
University of Johannesburg