Patrick Siti Phakathi
Auditor/Accountant
Boksburg,Gauteng
Summary
Forward-thinking individual with great understanding of auditing, taxation, accounting and management consultancy procedures. Offering more than 15 years of expertise of the field of accountancy. Known for accuracy, efficiency and effectiveness touch. A resourceful Accounting and auditing professional with over 12 years of experience in taxation advisory, audit preparation and financial reporting.
Overview
17
17
years of professional experience
Work History
Internal Auditor
City of Ekurhuleni
Johannesburg
10.2016 - Current
- Planning Audits on quarterly basis in accordance with approved annual strategy
- Plan and Compile system descriptions and confirm with 8 different departments.
- Draft engagement letter and discuss with clients.
- Draft audit program and execution of audit procedures
- Draft findings and discussion with clients, source management comments and so forth
- Draft audit report and do follow up were necessary.
- Valuate strategies of each department with audit areas
- Establish if departmental KPIs are well defined and target set accordingly.
- Check validity of departmental SDBIPs aligns with IDP.
Accountant
Mutual&Federal
Johannesburg
03.2013 - 09.2016
- Reviewed accounts, resolved coding areas, and tracked recurring expenses for accrual entry.
- Maintained integrity of general ledger and chart of accounts.
- Used accounting software to issue tax returns and prepare consolidated reports.
- Researched technical tax issues to define tax effect or impact of certain tax positions.
- Partnered with auditors to track errors and add contributions to maintain accuracy.
- Itemized taxpayer expenses to identify maximum adjustments, deductions and credits.
- Identified legal tax savings and recommended ways to improve profits.
- Maintained up-to-date knowledge on professional accounting standards to manage financial recordkeeping.
- Reviewed business operations and obligations to help organization function at acceptable level.
- Used advanced 2 software to prepare documents, reports, and presentations.
- Compiled general ledger entries on short schedule with 100% accuracy.
- Trained new employees on accounting principles and company procedures.
- Prepared working papers, reports and supporting documentation for audit findings.
- Provided journal entries and performed accounting on accrual basis.
- Modified comprehensive reporting to reflect changing financial structure.
- Improved data collection, financial analysis and financial modeling to optimize practices and retain customers.
- Gathered financial information, prepared documents, and closed books.
- Documented cash, credit, fixed assets, accrued expenses, and line of credit transactions.
- Evaluated and improved financial records to make important business decisions.
- Detected and corrected mistakes early on and implemented systems to avoid recurring issues.
- Financial Planning, Analysis, Internal Control and compliance, Variance Analysis,
- Profitability Analysis, releasing Claims payments, adherence to policies and procedure, budgets and forecasts
- Reinsurance accounting (premiums vs claims), reinsurance expense recons, reporting
- Monitoring control within 8 department and ensure that they are improved at all times.
- Handling Control accounts, bank Reconciliations, balance sheet items reconciliation.
- Supervision of 7 Accounts Clerks, commission’s payments,
- Creditors’ payments, handling banking, setting up controls,
- Analysis of expenses & passing journals, releasing UIF, PAYE, SDL and other statutory payments & performing their reconciliations.
- Systems controls and testing new systems developments, yearend journal.
Assistant Accountant
City of Ekurhuleni
Benoni
03.2010 - 03.2013
- Supervised accounting staff to provide feedback and evaluate progress.
- Prepared working papers, reports and supporting documentation for audit findings.
- Reviewed 4 business operations and obligations to help organization function at acceptable level.
- Maintained accurate and complete documentation to facilitate accounting and filing functions.
- Reviewed accounts, resolved coding areas, and tracked recurring expenses for accrual entry.
- Checked general ledger entries to increase accuracy, prevent significant errors and identify adjustments.
- Assisted with monthly and quarterly income statements, balance sheets and cash flow reports to inform decision-makers.
- Initiated comprehensive account assessments to check viability, stability, and profitability of business operations.
- Monitored status of accounts receivable and payable to facilitate prompt processing.
KPMG/Mkwane-Mahamu Consulting
Trainee Accountant/Auditor
Johannesburg
06.2008 - 03.2010
- Organized and detail-oriented with strong work ethic.
- Paid attention to detail while completing assignments.
- Demonstrated strong organizational and time management skills while managing multiple projects.
- Developed and maintained courteous and effective working relationships.
- Accounting from books of 1st entry to reporting, Tax Administration for both companies and individuals, VAT and advisory, Auditing from crackle to grave both external and internal audits Management consultancy and business advisory, Forensic investigation and Risk Management
- Completed paperwork, recognizing discrepancies and promptly addressing for resolution.
- Preparing payroll schedule and Submitting VAT application forms
- Preparing Trial Balance, Income Statement & Balance Sheet Reconciling Control Accounts
- Processing prime entry books, preparing IRP5, IT12/14/3 certificates, EMP, UIF & SDLs
- Preparing annual VAT reconciliation, Reconciling General Ledgers to Trial Balance
- Audit plan, Engagement planning, Process Description, Audit committee meetings
- Flow Charting, Process Analysis, Benchmarking, Risks Assessment workshop
- Audit Programme, Audit Field Work, Audit File and Audit Plan Memo, audit planning
Bank Teller
ABSA
Westonaria
03.2007 - 05.2008
- Built and strengthened customer relationships by leveraging excellent interpersonal and communication skills.
- Reconciled cash drawer and resolved discrepancies.
- Followed up on customer complaints and provided solutions to enhance customer satisfaction.
- Answered customer inquiries regarding account balances, transaction history, services charges, and interest rates.
- Placed orders for customer checks and verified starting numbers.
- Maintained accurate records of customer transactions in line with bank procedures.
- Disbursed cash and checks accurately while maintaining security of cash drawers.
- Identified sales opportunities and referred customers to branch partners in financial services.
- Assisted with training of 8 new tellers on policies and procedures.
- Learned about customer's financial needs, established trust, and optimized sales opportunities resulting in quality customer service.
- Processed customer transactions promptly, minimizing wait times.
- Learned about customer's financial needs, established trust, and optimized sales opportunities resulting in quality customer service.
Education
Master of Commerce in Accountancy - Accountancy
North West University
Vanderbjlpark08.2024
Post Graduate Diploma In Internal Auditing - Accounting And Finance
University of South Africa
Pretoria06.2022
Associate General Accountant - Accountancy
South African Institute of Chartered Accountants
Johannesburg06.2021
Advanced Diploma in Accounting Science - Accounting Science
University of South Africa
Pretoria03.2019
National Diplona in Internal Auditing - Auditing And Finance
Vaal University of Technology
Vanderbjlpark03.2008
Skills
- Negotiation and Conflict Resolution
- Accounting Management Assessment
- Resource Monitoring and Control
- Creating Workflows
Jogging, Watching Soccer and Reading
Daily jogging for 6-10 kilometers to keep fit
Timeline
Internal Auditor
City of Ekurhuleni
10.2016 - Current
Accountant
Mutual&Federal
03.2013 - 09.2016
Assistant Accountant
City of Ekurhuleni
03.2010 - 03.2013
KPMG/Mkwane-Mahamu Consulting
Trainee Accountant/Auditor
06.2008 - 03.2010
Bank Teller
ABSA
03.2007 - 05.2008
Master of Commerce in Accountancy - Accountancy
North West University
Post Graduate Diploma In Internal Auditing - Accounting And Finance
University of South Africa
Associate General Accountant - Accountancy
South African Institute of Chartered Accountants
Advanced Diploma in Accounting Science - Accounting Science
University of South Africa
National Diplona in Internal Auditing - Auditing And Finance
Vaal University of Technology
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