Masautso Mwale

▪ Specialised in the audit of some of Zambia’s largest corporations ranging from the Financial Services (FS) (Banking, Pension Funds, Trust Funds and Micro finance institutions), Insurance (General, Health and Life Insurance) and Consumer Industrial Products & Services (CIPS).
▪ Client facing experienced auditor on Financial Services engagements in the assurance space, which includes: Banking-Corporate & Investment, Private, Business & Retail Banking and Microfinance Institutions. Exposure to Global Markets (i.e. Derivatives, bonds & treasury bills), Product pricing and credit management and evaluation.
▪ Insurance & Reinsurance - Both short-term and long term products. Exposure on General, Life and Health Insurance. Reinsurance exposure on facultative and proportional share reinsurance. Determination & accounting for technical reserves, i.e. IBNR, etc.
▪ Working in diverse teams on various clients to ensure that financial reports are fairly presented
▪Planning the implementation of the Audit, that is, establishing the overall audit strategy for
the engagement and developing an audit plan.
▪Risk Assessment, which includes reviewing and evaluating client's internal controls by identifying and assessing the likelihood and potential impact of various risks to the organisation in order to mitigate risks.
▪Execution of the Audit which includes various audit procedures such as Substantive Procedures and test of controls on financial statement transactions and balances.
▪Developing a conclusion on work done and documenting audit findings. This includes
drafting reports on all issues noted, communicating them to client management.
▪Attending meetings and interviewing staff to gather sufficient and appropriate audit evidence
▪Examining accounts and financial records and other relevant documentation
▪Assisting in the preparation of a final audit report, including making recommendations for improvements to systems or processes

•Compute taxes/other statutory obligations owed and prepare tax/other statutory returns, ensuring compliance with payment, reporting and any other statutory requirements.

•Assisting in preparation of annual budget for the Authority and seeking relevant guidance from the Senior Accountant Expenditure

•Assist in the preparation of Year End Statutory Financial Statement for the Authority.

•Perform periodic reconciliation of Supplier statements, for general suppliers and Health care service providers.

•Traction and forecast all payables to manage the timing, approval and preparation for their settlement.

•Perform the recording, updating and maintenance of Fixed Asset Register.

•Perform daily and monthly bank reconciliations on all the Authority operations bank accounts.

•Perform monthly balance sheet - control accounts reconciliations and validation.

•Handle and manage petty cash and cash reconciliations according to the Authority policies.

•Provide and process information requirements for the internal and external audits of the Authority.

•Process payments in a timely manner due to the health care providers for provision of health care insured services as well as the other general suppliers.

•Assist in implementing controls and report control deficiencies in order to enhance accountability in the utilisation of resources.

•Assist in the generating of monthly expenditure management reports.

•Assist in the preparation of the monthly Management Reports.

•Perform other tasks as may be directed by the Senior Accountant Expenditure/Manager Finance & Director Finance & Investments.

• Client facing associate on Financial Services engagements in the audit and assurance space, which includes: Banking-Corporate & Investment, Private, Business & Retail Banking and Microfinance Institutions. Exposure on Global Markets (i.e. Derivatives, bonds & treasury bills), Product pricing and credit management and evaluation.
• Attending meetings and interviewing various client staff to gather audit evidence
• Examining financial records and other relevant support documentation for the execution of the Audit.
• Verified accuracy, compliance and completeness of team auditing work by performing various tests such as reconciliations.
• Performing Audit procedures such as Re-calculation, Re-performance, Inspection, Observation and other Substantive Procedures to determine Accuracy, Completeness, Existence and Valuation of various areas such as Payroll, Fixed Assets, Statutory returns, Revenue and other Financial Statement line items.
• Attending Cash Counts (Banks) and Stock Counts for various companies.
• Analysing and assessing financial reporting, fraud or operational business risks
• Preparing a final audit report, including making recommendations for improvements to systems or processes
• Ensuring compliance and testing the effectiveness and operation of Internal controls and policies and procedures.
• Verifying compliance with remittance of Statutory
  obligations and other laws and regulations (ZRA Taxes, NAPSA, NHIMA and WCF) through various audit procedures
• Planning the implementation of the Audit, that is, establishing the overall audit strategy for the engagement and developing an audit plan.
• Risk Assessment, which includes reviewing and evaluating client's internal controls by identifying and assessing the likelihood and potential impact of various risks to the organisation in order to mitigate risks.
• Developing a conclusion on work done and documenting audit findings. This includes drafting reports on all issues noted, communicating them to relevant parties or decision makers.
• Assisting the Audit Team Senior Associate with various tasks, including guiding and coaching new joiners and trainees during the Audit
• Working in diverse teams on various clients to ensure that financial reports are fairly presented
• Clients Audited include those in Government and Public Sector (Local, Regional and International Organisations), Financial Services (Banks and Insurance Companies) and Consumer Industrial Products and Services (Agricultural, Mining and Technology). Past clients audited include: FNB, ZANACO, Access Bank, AB Bank,
  VisionFund ,Metropolitan Life Zambia Limited, Emeritus Reinsurance, IHS Towers, Crown Foods Zambia, MultiChoice Zambia, SterKinekor, Intercontinental Hotel, UNICAF, Bulk Mining, ZAMSEED, Sandvik Mining, SKF, COMESA and Global Fund (MOH) Projects.

▪Capturing financial transactions in Sage , Invoice processing, examining documents and processing expense requests and retirements.
▪ Preparing bank deposits performing petty cash and Bank reconciliations entering financial transactions into accounting systems
▪Reviewing spreadsheets for accuracy
▪Maintaining digital and physical financial records
▪Issuing invoices to customers and external partners, as needed
▪Assisting in preparing for monthly financial reports, assisting in preparation for annual audits, as well as filing of Statutory Returns to NAPSA and ZRA.
▪Ensuring the Fixed asset register is updated and reconciled, verification of their status and condition.
▪Attending inventory counts of client stock counts
▪Updating and maintaining procedural documentation, preparing payment vouchers and scanning monthly financial documents.
▪Liaising with third party providers, clients and suppliers and basic administration tasks as needed.