Sekela Mqolo

• I started working on Transnet audit since the takeover of the audit,
• I initially worked with SNG managers to gain the understanding of the Transnet freight rail (Largest division of Transnet ) during 2020,
• I gained the following valuable experiences :
• Project management experience as i was managing and supervising trainees from AGSA , ensuring that they gain the required technical knowledge and competencies as required by SAICA,
• Tracking of the budget and ensuring correct billings
• Providing coaching and on the job training for both SNG and AGSA trainees to ensure work is done according to quality requirements
• Technical experience of the audit of Asset valuations using the Discounted cashflow model and Depreciated replacement cost model which are complex to he Transnet environment.
• Use of CaseWare audit software experience as it was the audit software used at SNG
• Audit of the review engagement where we had to use data analytics to work efficiently and complete the agreed upon procedures and ensure they meet minimum quality standard.
• 2021 & 2022 Transnet freight rail (AG audit)
• After the AG takeover i was assisting the manager at transnet freight rail to manage the audit, the following is summary of experiences gained

Planning phase- reviewing of the engagement letter and the audit strategy documents

• Arranging meetings with Transnet for the kick off, audit strategy and recurring weekly update meetings with CFO
• Work allocation to ensure that work is appropriately allocated to trainees based on the level and training requirements
• -Review of the planning documents prepared by trainees to ensure that work is done appropriately and meets quality standards
• Setting and tracking timelines to ensure the work is completed within timelines agreed by the SM
• Planning and budgeting for Asset visits and stock counts
• Budgeting for CWC and regional pooled staff based on the complexity of audit areas that remained unallocated

Execution Phase

• Executed the complex asset balances -Capital work in progress (Infrastructure, locomotives,wagons) R12 Bil balance, and General assets and rolling stock R84 Bil Balance.
• Also ensured work executed by trainees meet the required quality standard by trainees coaching and reviewing work done by trainee

1064 locomotive project

• I worked on the Transnet Group 1064 locomotive project directly with 4 senior managers, PC and DBE,
• This was the most challenging audit at Transnet as it was involving state capture, special investigations unit reports and in the eye of the media
• I was the only assistant manager/audit senior in the project working with the SM's,
• Gained project management skills and problem solving skills
• Facilitated technical discussions with legal team, PC,TAS about the complex accounting implications of the project and potential material Irregularities

Reporting phase

• First level reviewing of the management report and ensuring findings attached are findings discussed with management and conclusions updated
• Reviewing and ensuring key audit matters are communicated

Admin

• Approving CWC and pooled staff hours worked
• Issuing RFI's and findings
• Chairing weekly steering committee and give update to the divisional CFO
• Arranging update meetings and updating the SM on the progress of the audit.

Quality and pre-issuance

• I was the quality champion responsible to ensure that the file meets the quality standards
• Aligned, cleared and closed quality and pre issuance insignificant notes raised due to the misunderstanding of Transnet as it is complex environment.

Department of tourism audit (National B)-Execution and reporting

• After the SNG audit was completed in 2020 i was seconded to assist the manager as the assistant manager had left, the project was behind timelines and it was during COVID times, and it was difficult for the manager and the audit senior to manage the CWC
• I have used crisis management skills, problem solving and project management skills, to complete the project,
• I was able to finish and present the Management report within the timelines.

Roles of the above include:

• Planning the Audit including ensuring that:
• The Engagement letter is signed and agreed to.
• Assisting AM in Preparation and presentation of Audit strategy
• Executing the Audit of financial statements
• Execution of audit of compliance
• Execution of audit of predetermined objective
• Assisting the manager to prepare management Report

Project management and budget t monitoring

• Team budget monitoring and ensuring correct billings
• preparation of work allocation for team -Assessing and tracking if deadline is met.

Administration

• Preparing meeting invites with stakeholders
• Agenda, Attendance registers and effective minute taking
• Chairing team ethical and fraud and work progress discussions
• Maintaining Registers for Request for information, communication of Audit findings

Summary of clients

• South African post office (secondment ) 2018 and 2019
• Eastern cape department of human settlements 2019
• Amatola waterboard -2019
• Eastern Cape department of treasury -2017
• Kouga Local municipality - 2017-2019
• Lovedale Tvet college -2019