Silindile Shabalala

I am part of the team that looks after the activities of financial reporting to internal and external stakeholders of the Absa Group and Absa Bank to ensure that financial reporting is performed accurately and timeously and complies with International Financial Reporting Standards (IFRS), JSE Limited listing requirements and the Companies Act as well as specific requirements as communicated by analysts, the Group Audit and Compliance Committee and the Board of Directors for Absa Group Limited and Absa Bank Limited.

Key responsibilities

Accountability: Monthly Reporting

1. Reviewing the financial results, obtaining commentary from Analytics and Balance sheet control for the various clusters.

2. Attendance to queries from internal reviews, external auditors, financial analysts and the JSE Limited by requesting information from the relevant team members and reviewing the responses for accuracy and validity.

Accountability: Projects

• In charge of the IFRS 17 project from the external reporting perspective.
• Involved and contribute to improvement projects within the department including SAP 4 Hana, Hyperion Essbase and Planning

Accountability: External reporting

• Review the team’s preparation/updates to CDM notes that are included reports for booklet, SENS and financial statements.
• Perform an analysis, to ensure that any changes to the notes and accounting standards are considered. Ensuring accuracy of the disclosures through analysis and comparisons to annual financial statements. Considering note consistency across reporting levels.
• Assist the team with Planning web form queries needed for external reports prior to release to ensure that all the relevant disclosure requirements are included in the web forms and that the necessary checks and validations are in place to ensure accurate submission by business units.
• Assist the team with necessary escalations to ensure data is received timeously taking into account reporting deadlines.
• Agree prior year figures to reported figures and following up on any and resolving discrepancies, considering re]statements where applicable.
• Obtain signoff from the team as notes are completed. Also provide signoff post review of note has been performed.
• Ensure compliance to the Group's accounting policies, the Companies Act and King III.
• Assist in preparing reports to the GACC and the Board alongside the Report Owners Manager.
• Keep up to date with changes in accounting standards (IFRS) and other regulatory requirements to ensure proper and adequate disclosures.
• Liaise with auditors regarding the review of financial statements and ensure that comments raised by auditors are being dealt with adequately. Meet with auditors to discuss audit budgets and possible fee overruns to be presented to the financial controller.

Accountability: Internal reporting

• Check the accuracy between the Exco report, GACC report, Board report, Segment report, the financial results booklet, SENS announcements as well as the financial statements.

Performance feedback

Very Strong

I was part of the project the mainly focud on the disposal of the South African Media, broadcasting and content business.

Key responsibilities

• Preparation of Annual and Interim Financial Statements
• Reviewing creditors and debtors’ reconciliations
• Preparation of consolidated financial information
• Gathering and monitoring financial data, which is then used in the preparation of weekly and monthly estimates
• Monitor and report on accounting discrepancies
• Analyse financial trends
• Creating KPI reports
• Examining financial records to check for accuracy
• Managing and training staff when necessary

Performance feedback:

Not provided

Completed my CA training articles for 3 years and stayed for 2 months on a fixed term contract as a Supervisor.

Key responsibilities

• Setting up the eAudit file (Creating an engagement)
• Providing guidance to Junior members of the team in terms of how to audit presentations disclosed by clients
• Planning for the audit, setting up all the required documents necessary to proceed with the engagement
• Obtaining the understanding of the entity and deciding on the audit approach including relevant controls to be tested and substantive work to be performed
• Assess whether the audit team is independent to the client by making them sign the independence declarations
• Calculation of materiality for all the clients I was the in charge on
• Allocation of required resources to complete the engagements
• Identification of accounts associated with risk( Depending on the client) of being materially misstated
• Identification of the client entity level controls and propose recommendation to the client to strengthen their internal controls to report more accurate information efficiently
• Managing the team and the client and ensuring that all relevant parties are informed with regards to the status of the audit work

Performance feedback

Good