Xolelwa Siphokazi Fantsi
Experience Internal Auditor
Alberton
Summary
I am a highly skilled Senior Auditor with +- 16 years of expertise in assessing business operations and control, identifying risks, performing root cause analysis and recommending improvements. I am committed to maintaining the highest standards of integrity and professionalism in providing audit services.
Overview
22
22
years of professional experience
Work History
Internal Audit Specialist
African Bank
03.2023 - Current
- Evaluating the adequacy and operating effectiveness of internal controls
- Identify weaknesses and develop appropriate and corrective action plans and recommendations
- Improving internal control processes by conducting thorough audits and identifying areas for improvement.
- Enhancing operational efficiency through the development and implementation of risk-based audit plans.
- Developing strong working relationships with key stakeholders to facilitate open communication during the audit process.
- Presenting clear, concise audit findings to senior management, offering actionable recommendations for improvements.
- Providing ongoing support to management by offering guidance on internal control design and ensuring timely resolution of audit findings.
- Documenting recommendations to improve internal controls.
- Producing audit reports.
Senior Internal Auditor
Ubank
11.2018 - 03.2023
- Preparation of engagement letter
- Prepared the risk based audit programs and procedures
- Evaluated the adequacy and operating effectiveness of internal controls
- Assisted IT Auditors with quarterly performance and evaluation of Disaster Recovery testing
- Improved internal control processes by conducting thorough audits and identifying areas for improvement.
- Enhanced operational efficiency through the development and implementation of risk-based audit plans.
- Developed strong working relationships with key stakeholders to facilitate open communication during the audit process.
- Presented clear, concise audit findings to senior management, offering actionable recommendations for improvements.
- Provided ongoing support to management by offering guidance on internal control design and ensuring timely resolution of audit findings.
- Documented recommendations to improve internal controls.
- Produced audit reports.
Internal Auditor (Temp)
Land Bank
06.2018 - 09.2018
- Develop and perform a risk based audit approach for each audit engagement
- Execution of all work assigned in line with approved Internal Audit methodology and within the time allocated per assignment
- Identify and evaluate significant risk exposures in the control processes and make appropriate recommendations for improvement
- Documenting and discussion of weaknesses identified
- Identified and reported audit issues.
- Documented recommendations to improve internal controls.
- Performed internal audits of financial and departmental operations, developing risk assessments and conducting process walkthroughs for compliance with documented processes.
- Reviewed and identified risks, analyzed controls and tested compliance.
Enterprise Risk Manager (Temp)
Ubank
04.2018 - 06.2018
- Provided risk advisory services and support to Business Units (within my portfolio) with regards to risk management tools, policies and procedures (RCSA , KRIs, Operational loss data);
- Assisted with developing and running risk awareness initiatives (Business Continuity Plan)
- Monthly collection of data to be included in the Enterprise Risk Committee Report
- Developed strong relationships with internal stakeholders, promoting a culture of risk awareness and accountability.
- Fostered a culture of continuous improvement in risk management, encouraging feedback from employees to identify areas for enhancement.
- Trained the appointed risk champions on risk management best practices, empowering them to make informed decisions regarding potential risks.
- Streamlined communication with business units, ensuring timely sharing of identified key risks.
- Assisted in the development of enterprise-wide business continuity plans, minimizing disruptions caused by unforeseen events or disasters.
Senior Internal Auditor (Fixed Term Contract)
Ubank
09.2017 - 01.2018
- Preparation of engagement letter
- Prepared the risk based audit programs and procedures
- Evaluated the adequacy and operating effectiveness of internal controls
- Assisted IT Auditors with quarterly performance and evaluation of Disaster Recovery testing
- Improved internal control processes by conducting thorough audits and identifying areas for improvement.
- Enhanced operational efficiency through the development and implementation of risk-based audit plans.
- Developed strong working relationships with key stakeholders to facilitate open communication during the audit process.
- Presented clear, concise audit findings to senior management, offering actionable recommendations for improvements.
- Provided ongoing support to management by offering guidance on internal control design and ensuring timely resolution of audit findings.
- Documented recommendations to improve internal controls.
- Produced audit reports.
Internal Audit Supervisor (Temp)
Nkonki
07.2017 - 09.2017
- Assisted the Audit Manager Manager with planning of the audit
- Improved internal control processes by conducting thorough audits and identifying areas for improvement.
- Enhanced operational efficiency through the development and implementation of risk-based audit plans.
- Developed strong working relationships with key stakeholders to facilitate open communication during the audit process.
- Presented clear, concise audit findings to senior management, offering actionable recommendations for improvements.
- Provided ongoing support to management by offering guidance on internal control design and ensuring timely resolution of audit findings.
- Documented recommendations to improve internal controls.
- Produced audit reports.
Senior Internal Auditor (Fixed Term Contract)
Futshane Auditors
09.2016 - 06.2017
- Preparation of engagement letter
- Prepared the risk based audit programs and procedures
- Evaluated the adequacy and operating effectiveness of internal controls
- Improved internal control processes by conducting thorough audits and identifying areas for improvement.
- Enhanced operational efficiency through the development and implementation of risk-based audit plans.
- Developed strong working relationships with key stakeholders to facilitate open communication during the audit process.
- Presented clear, concise audit findings to senior management, offering actionable recommendations for improvements.
- Provided ongoing support to management by offering guidance on internal control design and ensuring timely resolution of audit findings.
- Documented recommendations to improve internal controls.
- Produced audit reports.
- Accounting Function/Consulting i.e. Payroll and Vat Reconciliation
Internal Audit Consultant
Kgotlhetsa Consulting and Indyebo Consulting
05.2015 - 08.2016
- Evaluated the adequacy and operating effectiveness of internal controls
- Improved internal control processes by conducting thorough audits and identifying areas for improvement.
- Developed strong working relationships with key stakeholders to facilitate open communication during the audit process.
- Presented clear, concise audit findings to senior management, offering actionable recommendations for improvements.
- Provided ongoing support to management by offering guidance on internal control design and ensuring timely resolution of audit findings.
- Produced audit reports.
Audit Clerk
Auditor General South Africa
10.2013 - 04.2015
- Obtain an in-depth knowledge and understanding of client operations
- Assess client processes to identify risks
- Performing Test of controls
- Risk assessment
- Monitoring compliance with PFMA, IFRS and relevant regulations, policies and laws
- Substantive Procedures
- Documenting of audit findings
- Preparation of an audit program
- Monitoring compliance with policies and procedures
Auditor (Fixed Term Contract)
Ngubane and Co
05.2013 - 08.2013
- Performed observations and evaluated supporting documents to supplement audit findings.
- Provided detailed documentation on audit findings, facilitating swift corrective action when necessary.
- Ensured compliance with regulatory requirements by performing regular audits and staying up-to-date on industry standards.
- Performing Substantive Procedures
- Monitoring compliance with PFMA, IFRS and relevant regulations, policies and laws
- Communicated with auditees staff to obtain necessary information for audits.
- Ensured the integrity of financial reporting by verifying the accuracy of accounting records and reconciliations.
- Interviewed auditees to gather data needed to conduct audits.
Trainee Accountant (Audit Senior)
Nkonki Incorporated
01.2011 - 09.2011
- Drafting and Review of Annual Financial Statements in accordance with IFRS
- Drafting of Management Report and discussing it with Financial Manager and Audit Team Management
- Supervising and assisting audit juniors with their duties
- Ensuring that the audit file is submitted on time
- Auditing the Annual Financial Statements and ensuring compliance thereof with applicable Acts
- Obtaining an in-depth knowledge and understanding of client operations
- Assessing of auditee processes to identify risks
- Performing tests of controls
- Performing substantive procedures
- Documenting of audit findings
- Contributed to timely completion of financial audits by compiling necessary documentation and providing accurate information.
Trainee Accountant
GL Palmer and Company
01.2009 - 12.2010
- Drafting and Review of Annual Financial Statements in accordance with IFRS
- Company Income Tax computation
- Performing tests of controls
- Performing substantive procedures
- Reviewing of Reconciliations prepared by clients
- Ensuring that the audited section is submitted on time
- Cashbook to Trial Balance processing
- Preparation and passing of adjusting journals
- Vat Returns and Reconciliation
- Preparation of Fixed Assets Register and Reconciliation
- Creditors / Shareholder Loan Reconciliation
- Bank Reconciliation
- Tax computation and filing
Bank Teller (Temp)
Cozens Placement
11.2006 - 12.2008
- Answering customer inquiries regarding account balances, transaction history, services charges, and interest rates.
- Processing customer transactions promptly, minimizing wait times.
- Balancing cash drawers accurately at the end of each shift, minimizing discrepancies in financial records.
- Provided exceptional customer service, resulting in increased client retention and loyalty.
Customer Relations Manager
BMW Contact Centre
02.2006 - 09.2006
- Assisted BMW drivers who needed roadside assistance
- Dispatching of an on call technician where assistance was required
- Making arrangements with the towing company to tow vehicles
- Case management and query solving
- Enhanced customer satisfaction by addressing and resolving issues promptly and professionally.
- Handled complaints, provided appropriate solutions, and alternatives within appropriate timeframes and followed up to achieve resolution.
- Provided service in accordance with established operating procedures and company policies.
Bank Teller and Enquiry Clerk
Quest Staffing Solutions
01.2003 - 01.2006
- Answering customer inquiries regarding account balances, transaction history, services charges, and interest rates.
- Processing customer transactions promptly, minimizing wait times.
- Balancing cash drawers accurately at the end of each shift, minimizing discrepancies in financial records.
- Provided exceptional customer service, resulting in increased client retention and loyalty.
Education
Bachelor of Accounting Science - Accounting And Auditing
University of South Africa (Completed)
Pretoria 04.2001 -
Post Graduate Diploma - Internal Audit
University of South Africa
04.2001 -
CIA Part And Part 2 - Internal Audit
Institute of Internal Audit
04.2001 -
Skills
Advanced Excel
Financial statement analysis
Internal controls evaluation
Audit planning expertise
Microsoft Excel proficiency
Audit planning
Accounting principles knowledge
Annual reports
Risk assessment analysis
Report writing
Control testing
Risk mitigation strategies
Verbal and written communication
Critical thinking
Effective communication
Attention to detail
Educational Background
Postgraduate Diploma in Internal Auditing, Bachelor of Accounting Science, Unisa, 12/2009, Accounting, Auditing, Taxation, Management Accounting, 12/1997, Queenstown Girls High School, Queenstown
Personal Information
Driving License: Code 08 (Own Transport)
Training
- Auditing Projects, Project Management and Project Risk, Leardership Academy for Guardians of Governance
- Data Analytics for Internal Auditor: Basic/Awareness Level, Leardership Academy for Guardians of Governance
Professional Body Membership
Institute of Internal Auditors South Africa
Timeline
Internal Audit Specialist
African Bank
03.2023 - Current
Senior Internal Auditor
Ubank
11.2018 - 03.2023
Internal Auditor (Temp)
Land Bank
06.2018 - 09.2018
Enterprise Risk Manager (Temp)
Ubank
04.2018 - 06.2018
Senior Internal Auditor (Fixed Term Contract)
Ubank
09.2017 - 01.2018
Internal Audit Supervisor (Temp)
Nkonki
07.2017 - 09.2017
Senior Internal Auditor (Fixed Term Contract)
Futshane Auditors
09.2016 - 06.2017
Internal Audit Consultant
Kgotlhetsa Consulting and Indyebo Consulting
05.2015 - 08.2016
Audit Clerk
Auditor General South Africa
10.2013 - 04.2015
Auditor (Fixed Term Contract)
Ngubane and Co
05.2013 - 08.2013
Trainee Accountant (Audit Senior)
Nkonki Incorporated
01.2011 - 09.2011
Trainee Accountant
GL Palmer and Company
01.2009 - 12.2010
Bank Teller (Temp)
Cozens Placement
11.2006 - 12.2008
Customer Relations Manager
BMW Contact Centre
02.2006 - 09.2006
Bank Teller and Enquiry Clerk
Quest Staffing Solutions
01.2003 - 01.2006
Bachelor of Accounting Science - Accounting And Auditing
University of South Africa (Completed)
04.2001 -
Post Graduate Diploma - Internal Audit
University of South Africa
04.2001 -
CIA Part And Part 2 - Internal Audit
Institute of Internal Audit
04.2001 -
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