Services
External audit
We perform external audits in compliance with the International Standards on Auditing. This is performed on various frameworks which include International Financial Reporting Standards for Small and Medium-Sized Entities, IFRS, Generally Recognised Accounting Practise (GRAP) and Specific Basis of Accounting
Internal and ICT Audit and Investigations
We conduct internal audits in diverse environments within organizations. These may vary according to the purpose, size, complexity, and structure of the organization. Shumba Inc is guided by the International Standards for Professional Practise of Internal Auditing as issued by the Institute of Internal Auditors (IIA), which provides clear guidance on Assurance and Consulting Services within the internal Audit environment. Our internal audit is focused but not limited to the following
Corporate Governance Consulting and Reviews Board and Board Committees’ Assessments in line with King IV
Internal audit Quality Assurance Reviews
Internal audit Co-Sourcing
Review of Financial Statements
Audit Committee Advisory
Internal audit and governance
Enterprise risk management
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Integrated Risk Management
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Risk Infrastructure and processes set-up Enterprise risk Assessments
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Risk Training Awareness
Investigations
Forensic investigations
Irregular expenditure investigations
Regulatory and compliance
Accounting
In Accounting we have the following services:
Asset Management
Providing GRAP/ IFRS compliant fixed asset register
Performing assets verifications
Performing condition assessment
Striving to improve coordination across the departments in municipalities and the office of the CFO to break down the Silo effect and improve asset management
Development, Enhancement, Implementation, and Monitoring of budget-related policies, procedures, and by-laws
On this one we provide support in performing desktop data and cleansing for accurate billing.
Advise municipalities with a compilation of budgets
GRAP compliant budget Cash flow management and expenditure
Confirm the adequacy of Bank, Debtors and Creditors Reconciliations Performing support documents reconciliation (Strong Room vs GL)
Compilation of GRAP Annual Financial Statements
Compilation of Audit File for GRAP AFS
Reconciliation of new assets additions on Fixed Asset Register to General Ledger
Assist in developing GRAP compliant fixed assets registers
Assist municipalities with bonus and leave calculations as per GRAP 19
Provide assistance in interpreting and implementation of GRAP standards Capacity building and skills transfer across all financial areas
Taxation
In this product line we offer:
Corporate tax
Individual tax
Indirect tax
Municipal finance