Qhawe Bomvu

Pre-Engagement and Planning Phase : Throughout my progression from a first-year audit trainee to a senior audit trainee, I have played a pivotal role in the pre-engagement and planning phases of various audit engagements. This phase serves as the cornerstone for the audit process, where I have diligently focused on understanding the intricacies of each client’s business operations and industry landscape. By conducting comprehensive analyses, I have identified and evaluated significant risks inherent in their operations, crucially setting materiality thresholds. This phase has also seen me develop tailored audit strategies, selecting the most appropriate audit procedures to effectively address identified risks. Additionally, I have taken the lead in organizing and coordinating audit teams, ensuring optimal allocation of responsibilities to achieve comprehensive audit coverage. Formalizing these engagements, I have finalized audit engagement letters that outline the mutual expectations between our audit firm and the client, setting the stage for a thorough and productive audit.

Execution or Field work Phase : During the execution or fieldwork phase, my role was centered on executing the planned audit procedures to gather sufficient and appropriate audit evidence. This phase required me to conduct a variety of tests, including tests of controls, substantive procedures, and analytical procedures, as outlined in the audit plan. I have in my time evaluated the effectiveness of internal controls, ensuring they provided reliable assurance over financial reporting. Sampling transactions and account balances allowed me to verify the accuracy and completeness of financial data to be presented in the financial statements. Continuous communication with client personnel was essential to obtain necessary explanations and additional information, while documentation of audit findings ensured all discrepancies and areas of concern were duly noted and addressed with the engagement managers and engagement leaders.

Completion Phase and Reporting Phase : In the completion and reporting phases, I undertook the critical task of finalizing the audit and communicating findings effectively to stakeholders. Here, my focus shifted to reviewing and evaluating all audit evidence gathered throughout the fieldwork phase. This thorough review ensured that our audit conclusions were well-supported and accurately reflected the findings. I have also drafted the audit report which present clear and substantiated opinions on the fairness of the financial statements, backed by comprehensive documentation. Engaging with management and governance bodies, facilitated constructive discussions on audit outcomes and any significant issues identified. Finally, completing the audit file with organized documentation ensured transparency and accountability in the audit process which culminates to the issuance of the audit report to stakeholders.

Major Clients & Exposure:

• Working with major clients like Ninety-One DLC, Alexander Forbes, and Werksmans Incorporated Trust, I gained extensive exposure to regulation, compliance, accounting, audit, and project management. These clients, due to their size, industry complexity, and regulatory environment, provided me with invaluable experience in navigating complex financial landscapes, ensuring adherence to industry standards, and managing large-scale audit projects effectively.

Key Skills:

• Audit Planning & Strategy Development: I excel in planning audit engagements by setting objectives, conducting risk assessments, and developing tailored strategies to address identified risks effectively.
• Financial Analysis & Reporting: I am proficient in conducting substantive testing, evaluating financial data, and drafting comprehensive audit reports that provide clear and accurate insights into financial statements.
• Internal Controls Assessment: I have experience assessing and verifying the effectiveness of internal controls, ensuring compliance with financial reporting standards.
• Regulatory & Compliance Audits: I possess a strong understanding of regulatory requirements and have conducted audits to ensure compliance with industry-specific regulations.
• Project Management: I am effective in managing audit engagements, coordinating teams, and optimizing resource allocation to meet project deadlines and ensure thorough audit coverage.
• Client & Stakeholder Communication: I am adept at maintaining continuous communication with clients, facilitating discussions with management, and clearly presenting audit findings to stakeholders.
• Leadership & Team Coordination: I am capable of leading audit teams, delegating responsibilities, and fostering collaboration to achieve audit objectives efficiently.

• Pre-Engagement and Planning: Planned audit scopes, objectives, and timelines; conducted risk assessments; and prepared detailed budgets.
• Execution (Fieldwork): Executed audit procedures, including tests of controls and substantive procedures, while maintaining effective communication with client personnel.
• Completion and Reporting: Drafted financial statements using CaseWare; conducted independent reviews; finalized audit files with thorough documentation.
• Key Contributions: Managed audit engagements, optimized resource allocation, and ensured compliance with accounting standards, resulting in the issuance of comprehensive audit reports to audit clients. This i successfully displayed teamwork abilities and project management skills.
• Major Clients: Personal Trust, • Vinimark Trading (Pty) Ltd, • Pescaluna

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