Zamokwakhe Gumede
Accountant
Kloof,KZN
Summary
Finance professional with extensive experience in financial reporting and compliance. Proven track record of delivering accurate financial statements and supporting audit processes. Known for fostering team collaboration and adaptability in dynamic environments, with proficiency in financial analysis and regulatory compliance.
Overview
17
17
years of professional experience
Work History
Accountant-Financial Reporting
University of KwaZulu Natal (UKZN)
07.2024 - Current
- Financial Statements, Audit, Budgeting and Reporting
- 1. Preparation and compilation of Annual Financial Statements including consolidation of university entities;
- 2. Preparation of abridge financial statements on monthly basis
- 3. Monthly reviewing accounts reconciliation file before submitting to Financial director for final review
- 4. Reviewing journal entries for year-end adjustments;
- 5. Attend to auditor’s queries within agreed timelines
- 6. Assist in budget preparation
- 7. Preparation of quarterly reports
- 8. Review journal entries before capturing on ITS
- 9. Reconciliation of main accounts such as non-current liabilities, Lease -IFRS 16
- 10. Reconciliation of assets register
- 11. Approving online payments
- 12. Participate in the ongoing development and establishment of accounting policies
- 13. Assist with compilation of information for preparation of tax returns
- 14. Interacts at all levels and with budget owners or other stakeholders to produce timely, efficient and accurate month-end close
- 15. Continued focus on improving system efficiencies and business practices
- 16. Assist in providing inhouse training for staff
- MANAGEMENT/SUPERVISORY EXPERIENCE
- General
- 1. Set departmental goals and objectives and ensure that my team achieve set goals by developing plans, organizing activities in line with goals, leading the team, putting controls in place in order to ensure performance monitoring and implementing the plans;
- 2. Make inputs to department’s budget, manage budget by ensuring that all expenditure is authorized, within the budget and all SCM process are being properly followed;
- 3. Ensure that my department is optimally capacitated, resources are used productively and optimally, and that department’s targets are met timeous;
- 4. On quarterly basis, organizing and chairing regular meetings with stakeholders and ensuring that all stakeholders are managed, thus building and maintaining healthy stakeholder relationships;
- Human Resources Management Related
- 5. Coach, develop and support the Financial reporting team to ensure that they are fully capacitated to deliver at a full potential;
- 6. Assist Financial Director to develop key performance indicators and ensure signing of performance agreements; conduct bi-annual revision of key performance indicators with an intention to progressively monitor employee performance;
- 7. Conduct annual performance assessment of individual employee and submitting to Financial director for approval;
- 8. Monitor staff attendance and leave management; ensure regular meetings and monthly meetings are scheduled, attended and operational issues are resolved timeous financial reporting department.
- Reason for Leaving: I’m still working, seeking growth to management level
- Developed comprehensive financial reports, ensuring compliance with accounting standards and enhancing transparency for stakeholders.
- Streamlined financial reporting processes, resulting in improved accuracy and reduced reporting time across departments.
- Led the audit preparation process, coordinating with internal teams to ensure timely completion and adherence to regulations.
- Implemented automated reporting tools, increasing efficiency in data collection and improving overall reporting accuracy.
Accountant
eThekwini Municipality
07.2013 - 06.2024
- MANAGEMENT/SUPERVISORY EXPERIENCE
- General
- 9. Set departmental goals and objectives and ensure that my team achieve set goals by developing plans, organising activities in line with goals, leading the team, putting controls in place in order to ensure performance monitoring and implementing the plans;
- 10. Make inputs to my department’s budget, manage budget by ensuring that all expenditure is authorised, within the budget and all SCM process are being properly followed;
- 11. Ensure that my department is optimally capacitated, resources are used productively and optimally, and that department’s targets are met timeously;
- 12. Organising and chairing regular meetings with stakeholders and ensuring that all stakeholders are managed, thus building and maintaining healthy stakeholder relationships;
- 13. Submit inputs in the process of policy reviews annually and as and when the need arises.
- Human Resources Management Related
- 14. Coach, develop and support the finance team which includes; graduate and trainee accountants, clerks, and in-service trainees, to ensure that they are fully capacitated to deliver at their full potential;
- 15. I am responsible for continuous performance monitoring which includes; conducting regular assessments of employees to ensure that set targets are met; ensuring employee well-being at workplace;
- 16. I assist senior management to develop key performance indicators and ensure signing of performance agreements; conduct bi-annual revision of key performance indicators with an intention to progressively monitor employee performance;
- 17. Conduct annual performance assessment of individual employee and submitting the scores to Human Resources for financial rewards;
- 18. Monitor staff attendance and leave management; ensure regular meetings and monthly meetings are scheduled, attended and operational issues are resolved timeous financial reporting department.
- ACCOUNTING AND FINANCIAL MANAGEMENT
- Financial Statements, Audit, Budgeting and Reporting
- 19. Involved in the preparation and compilation of Council Mid-Year and Annual Financial Statements;
- 20. Reviewing year end journal entries/accruals and other journal entries relating to final preparation of final Annual Financial Statements;
- 21. Attend to external/internal auditor’s queries including implementation of internal controls as recommended by auditors;
- 22. Supply information requested by auditors within 3 working days;
- 23. Preparation of three-year forward budget - Capital and Operating through consultation with business unit (cost centres) managers and executives to establish financial needs using the combination of zero based and incremental budget method as well as applying reprioritisation strategy to budget;
- 24. Providing inputs to SDBIP on quarterly basis regarding financial project performance;
- 25. Monitoring of expenditure against adjusted budget and advise managers for any material variances or anticipated over-expenditure;
- 26. Confirmation of budget availability and provision of financial certificates after ensuring that proposed acquisitions/ contracts are in line with procurement policy;
- 27. Assisting head of departments to the presentation of budget to the community (regional and wards level);
- 28. Preparation of three-year forward budget tariffs for inclusion in the budget; and revise yearly during budget preparation
- 29. Providing inputs to timetable draft (budget and financial statements preparation) to ensure that deadlines are met.
- 30. Reviewing and authorising adjustment and virement budget for the unit prior submitting to Budget Office;
- 31. Preparation and submission of MFMA Section 71 report (Council Financial Management Report) to Provincial Treasury;
- Revenue and Expenditure Management
- 32. Revenue recognition through raising income to Revenue Management System;
- 33. Reconciliation of debtors control account to individual accounts;
- 34. Charging other departments for service rendered through raising internal income;
- 35. Monitoring and recognising grant income on monthly basis based on grant condition;
- 36. Attending meeting with collection section to discuss collection and booking issues;
- 37. Arrange meetings together with collection section to discuss with debtors that are behind (90 days) with the payment of rental facilities to ensure that all cash due to the municipality is recovered;
- 38. Allocate all revenues deposited by community to pay for municipal facilities;
- 39. Analysing /scrutinise cost, approving and posting journal entries that relate miss-allocation of cost;
- 40. Prepare of monthly Financial Reports Pack, attend monthly meetings to present financial status/performance to senior management (executive).
- 41. Arranging a one on one meeting with each business unit’s/cost centre managers to provide any financial advice as maybe required.
- 42. Reviewing and authorising accounting documents e.g. (Payment Vouchers, Journal entries; services orders, requisitions etc.), manual and on-line approval of orders to facilitate the payments of suppliers;
- 43. Releasing weekly payments from Nedbank Account for payments to Transport Operators contracted by the council;
- 44. Oversee contract management obligations within financial management perspective, ensuring the unit complies with best practice in relation to procurement, monitoring, review and reporting;
- 46. Suspense accounts - clearing suspense accounts through distribution of cost to relevant accounts and ensuring that all transactions are allocated to correct accounts and suspense account remain zero when cost are closing on monthly basis;
- Assets Management
- 47. Approving orders for assets procurement and creation of assets on the accounting system (fixed asset register), as well as cleaning-up suspense entries (suspense account) and setting up depreciation calculation on the system as per asset policy;
- 48. Approving orders for asset maintenance and preparing schedule for assets writes offs (impairment);
- 49. Fixed Asset Reconciliation – assisting asset controller regarding the scanning of fixed assets and Investigating variances on fixed assets register against scanned asset report (asset on the floor);
- SUPPORT SERVICES
- Advisory services
- 50. Review of procurement contracts and assess financial implications, and advise relevant manager prior submission to committees;
- 51. Apply business judgment and financial insights to support decision making that aligns capital and resource allocation, with the organisational strategic priorities;
- 52. Informing management with non-compliance to Municipal Financial Management Act (MFMA) for example, by providing report of all payments made after 30 days from the date invoice receive (section 65(e) of MFMA).
- 53. Undertake related assignments as required;
- Project costing (ad-hoc projects)
- 54. Assisting senior management to establish cost of projects
- Administrative services
- 55. Attending to Ad-hoc issues.
- 56. Attend/chair meetings as required.
- Reason for Leaving: promotion and better offer
- Streamlined financial reporting processes, enhancing accuracy and reducing turnaround time for monthly budget assessments.
- Led compliance audits to ensure adherence to financial regulations, significantly mitigating risk and improving internal controls.
- Developed and implemented automated accounting systems, increasing efficiency in transaction processing and data management.
- Mentored junior accountants, fostering skill development and enhancing team productivity through targeted training sessions.
Internal Control Officer
eThekwini Municipality
01.2013 - 07.2013
- Responsibilities:
- 1. Planning, preparation and Implementation of work program
- 2. Monitoring and review accuracy of procurement from purchase requests, BAC resolutions etc.
- 3. Verify delivery of goods and services after acceptance by end-users dept. On surprise basis.
- 4. Witness physical inventory of count
- 5. Conduct surprise cash count to revenue collectors in different Sizakala Centres
- 6. Monitor and review daily report of cash collections and deposits submission of reports with corresponding recommendations
- 7. Supervision of staff
- 8. Attendance to meetings and administrative support services
- Reason for Leaving: Promotion
- Designed and implemented comprehensive internal control frameworks, enhancing compliance and safeguarding municipal assets.
- Led cross-departmental audits to assess risk management strategies, resulting in improved operational efficiency and accountability.
- Developed training programs for staff on internal control policies, fostering a culture of compliance and awareness throughout the organization.
- Conducted regular evaluations of control systems, identifying weaknesses and implementing corrective actions to mitigate risk exposure.
Auditor / Accountant
Ubucule Accountants & Business Advisors Inc.
03.2009 - 12.2012
- Working in a very busy and high-volume environment, responsible for preparation of financial Statements, taxation, auditing and advisory services to different clients.
- RESPONSIBILITIES:
- 1. FINANCIAL REPORTING AND FINANCIAL MANAGEMENT
- Assets Management
- A) Asset management - bar coding, updating fixed assets register
- B) Process all calculations of depreciation, and impairments for all assets and related journals
- C) Update project plan for any work in progress asset items.
- D) Prepare fixed asset reports on a regular basis as required by client
- Financial Statements
- A) Processing multi cash books to trial balance
- B) Preparing annual financial statements for client’s in compliance with IFRS
- C) Preparation of monthly management accounts
- D) Work in Progress(WIP) capitalisation
- Budget
- A) Assisting clients to prepare annual budget -Capital and Operating;
- B) On behalf of clients, preparing quarterly reports.
- Valuations
- Perform company or business valuation as requested by client
- 2. EXTERNAL AND INTERNAL AUDIT
- External audit
- A) Responsible for audit planning, developing audit procedures, audit field work
- B) Drafting of management reports and audit report
- C) Attending audit queries from the audit partner
- D) Attend Year-end stock counts of year end.
- Internal Audit
- A) Responsible for audit planning, developing audit procedures, audit field work
- B) Drafting of management reports
- C) Attending audit queries from the audit partner
- 3. INCOME TAX
- A) Computation of individual CC, PTYs, LTDs income tax
- B) Filing Income tax, VAT, Employee returns to SARS
- C) Attending SARS dispute and queries
- 4. GENERAL ADMINISTRATION
- Attend meetings as required
- 5. MANAGERIAL EXPERIENCE
- A) Set departmental goals and objectives and ensure that my team achieve set goals by developing plans, organising activities in line with goals, leading the team, putting controls in place in order to ensure performance monitoring and implementing the plans;
- B) Making inputs to my department’s budget, manage budget by ensuring that all expenditure is authorised, within the budget and monitoring of budget.
- Ensure that my department is optimally capacitated, resources are used productively and optimally and that department’s targets are met timeous;
- Led comprehensive audits that ensured compliance with financial regulations, resulting in enhanced accuracy in financial reporting.
- Developed and implemented streamlined accounting processes, which improved efficiency and reduced processing times significantly.
- Mentored junior accountants in advanced auditing techniques, fostering skill development and enhancing team performance.
- Conducted risk assessments and identified control weaknesses, leading to improved internal controls and reduced financial discrepancies.
Education
POST Graduate Diploma - Accounting
UNISA
Pretoria, South Africa 04.2001 -
SAIPA-Pass Board Exam - Accounting
South African Institute of Professional Accountants
Johannesburg, South Africa01.2017
Bachelor of Accounting Sciences - Accounting
UNISA
Pretoria, South Africa12-2009
Skills
ITS
JDE-Enterprise
Caseware
Pastel Accounting
Full Microsoft Office (Advance level)
Cognos
Team-mate
Municipal Standard Charts of Accounts (mSCOA)
Hard Cat – Assets Management System
References
- Mhlonipheni, Shangase, Financial Director, ShangaseM4@ukzn.ac.za, 073 536 7478, 031 260 7275, UKZN, Current immediate supervisor
- Nithia, Moodley, Finance Manager, Nithia.Moodley@durban.gov.za, 083 5579140, 031 322 5121, eThekwini Municipality, Supervisor
- Sharon, Govender, Manager, Sharon.Govender@durban.gov.za, 083 789 2360, eThekwini Municipality, Supervisor Internal Control and Business systems
- Thabile, Khumalo, Audit Manager, Thabi.Khumalo@durban.gov.za, 083 570 5932, 031 311 1747, eThekwini Municipality, Supervisor (Audit Manager: Ubucule Inc)
Affiliations
South African Institute of Professional Accountants/SAIPA
Legislation and regulations
- Generally, Recognized Accounting Practice (GRAP)
- International Financial Reporting Standards (IFRS)
- International Auditing and Assurance Standards (ISA)
- Municipal Finance Management Act 56 of 2003 (MFMA)
- Public Finance Management Act 1 of 1999(PFMA)
- South African Schools Act 84 of 1996
- Non-profit Organizations Act 71 of 1997
- Companies Act 71 of 2008
- Treasury regulations
- Income Tax Act 58 of 1962
- Tax Administration Act 28 of 2011
Timeline
Accountant-Financial Reporting
University of KwaZulu Natal (UKZN)
07.2024 - Current
Accountant
eThekwini Municipality
07.2013 - 06.2024
Internal Control Officer
eThekwini Municipality
01.2013 - 07.2013
Auditor / Accountant
Ubucule Accountants & Business Advisors Inc.
03.2009 - 12.2012
POST Graduate Diploma - Accounting
UNISA
04.2001 -
SAIPA-Pass Board Exam - Accounting
South African Institute of Professional Accountants
Bachelor of Accounting Sciences - Accounting
UNISA