This role is accountable for the implementation of the client’s strategy to take back major State Owned Companies (SOCs) in the short-term and to set up the necessary structures to ensure that the planned enhanced governance activities are effectively implemented to enable a seamless take-back of these major SOCs. The BE will add value through a focused, risk-based and specific audit approach to the audits of the SOCs and reporting thereon. In this way, the client will also be able to report holistically on the state of financial and performance management in SOC’s, root cause analysis in the SOC space and provide deep, insight on SOCs in the client general report.
Duties & Responsibilities
Contributes to the formulation and drive the implementation of the client’s strategy to take back major SOCs.
Develop BU BSC and oversee the implementation and reporting thereof.
Develop and/or implement a clear strategy that will enable the client to take over the audit of the identified SOCs.
A key adviser to best practices to be followed on enhancing oversight over audits not audited directly, and on the process of taking over the audits of significant section 4(3) entities.
Propose an adequate resource strategy for entities and create the required capacity over time to ensure minimal disruption in the client audit environment.
Provide input into the development of the client’s wide capacity to improve the quality of audits conducted in SOCs.
Plan and structure the BU adequately by allowing them time to gain an in-depth understanding of the auditees’ environment, current resource structure, audit approach of the firms responsible for these audits and effective auditing of the major entities.
Ensure the financial sustainability for the client while taking back SOC audits.
Ensure effective change management during the take back of the major SOCs.
S4(3) Governance Enhancement
Facilitate and conduct specific projects related to selected S4(3) regularity audits with priority given to prominent SOCs.
Play a key role with governance oversight and review of section 4(3) portfolio for the organization.
Have sound working knowledge in the field of Public Finance Management Act (PFMA), International Financial Reporting Standards (IFRS), Tax, KING 4 and the Company’s Act given the experience the client will gain across a full spectrum of SOCs.
Responsible for the final audit reports in terms of the Auditing Standards.
Responsible for signing as per delegations
Monitor the timely sign off of audit reports
The collaboration with the SAS units to enhance the risk identification process.
Responsible for reviewing the recommendations to ensure it addresses the shortcomings identified during the audit.
Take responsibility for presentations at Audit Committees, Boards, Executive Authority, Standing Committee on Public Accounts (SCOPA), Public Accounts Committee (PAC) and other Parliamentary committees.
Implement quality assurance strategy in the business unit and ensure that the audits performed are adhering to quality standards.
Responsible for establishing and maintaining a proper Management Information System (MIS) for the audits and related matters.
Responsible for contributing quality information to the general reports or any other reports that provide insights on the SOC audits
Drive the strategic initiative of visibility through effective external engagements.
Networking with industry experts for SOCs
Advise stakeholders on issues related to all SOCs
Accountable for the implementation of the stakeholder engagement plan in line with the client’s stakeholder engagement framework.
Engage with the stakeholder as per the engagement plan which includes consideration for political sensitivity, complexity and seniority.
Media engagement as per the client’s delegations.
Interact with relevant oversight structures and relevant committees regarding briefings on audit reports / outcomes.
Interact with and establish partnerships with private audit firms, professional bodies and higher learning institutions.
Promote the client’s brand and reputation.
Provide strategic direction and leadership to the BU in respect of:
Vision achievement/ organization alignment.
People Strategy commitments including talent management and succession planning.
Implementation of client’s transformation strategies.
Impact-driven strategic conversations with internal staff on an on-going basis.
The improvement of culture and staff engagement within the BU
Accountable for maintaining training office accreditation in compliance with the regulatory bodies.
Enhancement of skills and competencies of staff within own portfolio and across the organization in the SOC space.
Financial management and operational management
Accountable for sustainability and profitability of the BU
Ensures that BU deliverables are executed economically, efficiently and effectively in terms of recoverability and productivity.
Ensures effective financial management of CWC.
Development and effective management of the BU budget and performance targets
Provide input on the opportunities to improve efficiencies of the organization’s business operations and other innovation.
Perform and/or manage other projects, tasks and assignments not stipulated on the Job description as and when required.
Desired Experience & Qualification
Auditing qualifications and business skills
Technical auditing knowledge to:
Manage and coordinate Strategic Audit Projects as well as Section 4(3) Regularity Audits.
Understands the nature and challenges of the auditing business in order to align own BU to the enhancement of the client’s core business.
Public Services Legislation
Understanding of all relevant legislation and processes as well as the mandate of the client
Ensure a project management approach to work. Implement project management principles to ensure effective project management Assess potential risk and devise contingency plans.
Marketing and Branding
Promote a positive image of the client and building its reputation with key stakeholders.
This position requires a minimum qualification of CA (SA) Experience and exposure to SOC audits
In addition, the incumbent requires a minimum of 9-10 years’
• At least 5 years’ experience in Financial/Auditing environment.
• At least 5 years’ experience in a senior management capacity.