Gugulethu L. Mncube CA(SA)
5 Sunbonani Estate, Bronkhorspruit Street, Norkem Park
Summary
Results-driven Chartered Accountant (CA(SA)) with over a decade of experience in financial management, reporting, auditing, and strategic leadership. Demonstrated success in leading cross-functional teams, improving financial processes, and ensuring compliance with GRAP. Expertise in optimizing budgets, forecasting, and maintaining robust internal controls to deliver accurate and timely financial reports supporting strategic business decisions. Adept at driving operational efficiency and upholding financial integrity across public and private sectors.
Overview
12
12
years of professional experience
Work History
Grants Accountant
MICT SETA
Midrand
02.2021 - Current
- Managed discretionary and mandatory grants accounting, overseeing compliance with GRAP
- Reduced financial discrepancies through detailed variance analysis and process improvements
- Review monthly general ledger and trial balance to ensure completeness and accuracy of all transactions
- Assist in the preparation of Annual Financial Statements by ensuring that all sections pertaining to discretionary and mandatory grants accounting are accurate and complete
- Approve and sign off on creditors' reconciliations
- Oversee and coordinate the month-end close process for grants and transfers
- Monitor internal expenses and provide variance analysis and commentary
- Validate discretionary grants payments for accuracy and compliance
- Verify new funding agreements and update the Commitment register
- Prepare monthly commitment registers for Discretionary Grant that is accurate and complete
- Ensure timely submission of levies and grants reports within deadlines
- Calculate and prepare exempt employer and quarterly mandatory grant reports
- Review and post journal entries, ensuring accuracy
- Address finance-related queries and ensure timely payment processing
- Manage accounts payable for Discretionary and Mandatory Grants and reconcile outstanding accounts
- Contribute to improving Standard Operating Procedures and policy updates
- Lead the Grants and Levies team by overseeing all the grants general ledger accounts and ensuring accurate monthly financial reporting
- Foster a high-performance culture through coaching and mentoring
- Present financial reports and updates to internal and external stakeholders, providing clarity and resolving issues
- Prepare Annual Financial Statements and AGSA audit files for compliance
- Prepare and review National Treasury templates and Management Accounts
- Present monthly Management Accounts to the Management Committee
- Translate newly approved legislation or Standard Operating Procedures into accounting that complies with GRAP
- Collaborate with strategic partners to ensure alignment in financial reporting
- Ensured compliance with GRAP and National Treasury standards in the preparation of annual financial statements and audit files
Senior Accountant
Imani Business Advisory Services
05.2018 - 02.2021
- Improved the Audit outcome of Client from Qualified to Unqualified with findings
- Plan, execute, and manage accounting assignments and consulting projects, ensuring alignment with municipal regulations and financial objectives
- Oversee and lead accounting teams, providing guidance on complex accounting tasks and fostering productive client relations across multiple projects
- Review general ledger (GL) entries to ensure accuracy and compliance with GRAP (Generally Recognized Accounting Practice) standards
- Prepare and review Annual Financial Statements that comply with GRAP and local government reporting requirements
- Offer comprehensive accounting support to municipal clients, advising on best practices and adherence to financial regulations
- Develop and maintain fixed asset registers, perform reconciliations, and prepare related financial schedules for municipal clients
- Prepare Work in Progress (WIP) commitment registers, tracking ongoing projects and expenditures
- Propose and process journal entries for the Asset Management Department, addressing misallocations identified through GL review and other supporting documentation
- Ensure that all financial votes and transactions for the Asset Management Department are compliant with MSCOA (Municipal Standard Chart of Accounts) regulations
- Collaborate with the Budget Department to assist in the development of the Medium-Term Expenditure Framework (MTEF), ensuring accurate financial projections for budgeting cycles
- Calculate depreciation and amortization for municipal assets, ensuring accuracy in asset management and reporting
- Provide recommendations to senior management regarding the reassessment of the useful life of municipal assets, improving accuracy in financial statements and planning
- Prepare and review the Statement of Cash Flows, ensuring alignment with GRAP and municipal reporting requirements
- Review and assess the work performed by junior accountants, ensuring accuracy, compliance, and professional growth
- Review client-prepared journals before authorization, ensuring adherence to financial controls and policies
- Compile and prepare audit files for submission to the Auditor General of South Africa (AGSA), ensuring that all documentation is complete and audit ready
- Provide expert advice on financial policies, financial controls, and municipal accounting practices
- Support clients in adhering to legislative requirements and municipal regulations, ensuring full compliance with financial governance frameworks
- Engage in continuous knowledge development regarding municipal accounting standards, legislative changes, and best practices
Consultant
CCG Systems
08.2016 - 12.2017
- Prepare Financial Statements for public sector clients, ensuring they comply with GRAP (Generally Recognized Accounting Practice) and other relevant accounting standards
- Assist clients with preparing and submitting monthly financial reports to the National Treasury, ensuring accuracy and timeliness
- Lead the implementation of the Municipal Standard Chart of Accounts (mSCOA), ensuring that financial systems are aligned with the latest municipal accounting requirements
- Assist clients in compiling mSCOA-compliant annual budgets, ensuring that all line items and financial categories meet the regulatory framework set out by the National Treasury
- Guide clients in breaking down financial data to the lowest mSCOA-compliant levels, improving transparency, reporting accuracy, and financial control
- Review and validate financial calculations performed by the client, providing detailed recommendations to ensure compliance and accuracy
- Offer ongoing accounting support to public sector clients, advising on best practices and ensuring the integrity of financial data
- Develop and maintain a GRAP-compliant asset register, ensuring accurate tracking of assets, depreciation, and amortization for financial reporting purposes
- Collaborate with clients to design and implement system workflows that comply with Supply Chain Management (SCM) regulations, ensuring efficient and transparent procurement processes
- Innovate and improve internal control procedures, ensuring robust financial governance and compliance with public sector regulations
- Provide training and support to client staff on mSCOA, GRAP, and financial system functionalities to ensure full understanding and proper use of the financial systems
- Assist clients in preparing audit-ready financial documents and reports for submission to the Auditor- General, ensuring compliance and accuracy in all financial records
- Oversee the integration of accounting systems with the mSCOA framework, ensuring that all data flows are aligned with the latest regulatory requirements and financial reporting standards
- Ensure that all financial practices, reports, and systems are compliant with South African public sector legislation and regulatory frameworks, including National Treasury guidelines
External Auditor
Morar Incorporated
04.2016 - 07.2017
- Plan and execute effective audit processes, ensuring compliance with auditing standards and organizational requirements
- Audit financial statements and assess accounts for accuracy, completeness, and adherence to regulatory compliance
- Inspect and evaluate internal systems and controls to ensure operational efficiency and identify areas of improvement
- Assess and evaluate risk management strategies, identifying potential risks and recommending mitigation measures
- Conduct audits in non-financial areas such as performance, IT systems, and operational controls
- Identify and report systematic errors, discrepancies, or indicators of fraud, recommending corrective actions
- Investigate specific issues or concerns raised by regulatory bodies and provide recommendations for resolution
- Present and discuss audit findings with clients, offering clear insights and actionable recommendations for improvement
Internal Auditor
Indyebo Consulting
02.2016 - 04.2016
- Perform and manage the full audit cycle, including risk assessment, control evaluation, and ensuring operational effectiveness, financial reliability, and compliance with all relevant directives and regulations
- Define the internal audit scope and develop annual audit plans to address key risks and business objectives
- Gather, analyses, and evaluate accounting documentation, historical reports, data, and process flowcharts to identify key audit areas
- Prepare and present detailed audit reports that summarize findings, document processes, and provide clear recommendations for improvement
- Serve as an independent advisor, providing objective guidance to ensure validity, legality, and alignment with organizational goals
- Identify gaps, inefficiencies, and control weaknesses, recommending risk mitigation strategies and cost- saving opportunities
- Maintain open and ongoing communication with management and the audit committee to ensure transparency and alignment with audit goals
- Document audit processes and prepare comprehensive audit findings memos for review by stakeholders
- Conduct follow-up audits to monitor the implementation of corrective actions and management's interventions
- Continuously engage in professional development to stay updated on industry regulations, rules, and best practices
Trainee Accountant
Auditor General South Africa
01.2013 - 12.2015
- Perform substantive testing and verification of financial transactions and records to ensure accuracy and completeness
- Evaluate the effectiveness of internal controls and assess their adequacy in mitigating risks
- Document audit procedures and tasks performed in accordance with AGSA (Auditor General South Africa) methodologies and guidelines
- Collaborate with audit team members to address challenges and resolve issues that arise during the audit process
- Conduct detailed testing and verification of key financial statement components, such as revenue, expenses, assets, and liabilities
- Review supporting documentation and perform analytical procedures to ensure the accuracy, completeness, and reliability of financial information
- Analyses and interpret financial data to identify significant findings, discrepancies, or potential misstatements
- Assess the appropriateness of accounting policies and verify adherence to relevant accounting standards and best practices
- Perform compliance testing to evaluate adherence to applicable laws, regulations, and internal policies
- Review and evaluate internal control systems, ensuring compliance and operational effectiveness
- Identify instances of non-compliance or weaknesses in internal controls and provide actionable recommendations for improvement
Education
Chartered Accountant of South Africa - CA(SA)
South African Institute of Chartered Accountants (SAICA)
01.2024
Postgraduate Diploma in Accountancy - CTA
Institute of Accounting Science
Postgraduate Diploma in Financial Accounting -
UNISA
Bachelor of Accounting Science -
University of the Witwatersrand
Skills
- Budgeting & Forecasting
- Financial Reporting
- Cash Flow Management
- GRAP
- MSCOA Compliance
- External & Internal Audits
- Risk Management
- Regulatory Compliance
- AGSA Submissions
- Cross-functional Team Leadership
- Performance Management
- Stakeholder Engagement
- Process Improvement
- Sage Evolution
- Munsoft
- CaseWare
- MS Office (Excel, Word, PowerPoint)
- Advanced Data Analytics
References
- Mthenjwa Mseleku, MICT SETA, Chief Financial Officer, Mthenjwa.Mseleku@mict.org.za, 073 448 9462
- Takamuka Shayawabaya, Imani Business Advisory Service, Senior Manager, Taka.Shaya@gmail.com, 078 832 6813
- Sihle Khuzo, Alfred Nzo District Municipality, Deputy Chief Financial Officer, KhuzoS@andm.gov.za, 076 521 2218
- Mondi Msimango, CCG Systems, Regional Manager, Mondli@ccgsystems.co.za, 078 104 3750
Timeline
Grants Accountant
MICT SETA
02.2021 - Current
Senior Accountant
Imani Business Advisory Services
05.2018 - 02.2021
Consultant
CCG Systems
08.2016 - 12.2017
External Auditor
Morar Incorporated
04.2016 - 07.2017
Internal Auditor
Indyebo Consulting
02.2016 - 04.2016
Trainee Accountant
Auditor General South Africa
01.2013 - 12.2015
Chartered Accountant of South Africa - CA(SA)
South African Institute of Chartered Accountants (SAICA)
Postgraduate Diploma in Accountancy - CTA
Institute of Accounting Science
Postgraduate Diploma in Financial Accounting -
UNISA
Bachelor of Accounting Science -
University of the Witwatersrand
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