This project was carried out in partnership with Ntumba Inc, who were the main contractors. We conducted an Asset verification exercise for the Department.
The project entailed physical verification of assets from all sites, reconciliation of register per verified list to existing register, valuation of the assets (in terms of PFMA, Treasury regulations and National Treasury Practice Notes) and review of the asset management procedure manual.
Nduma provides Bar codes and scanners; we utilize electronic scanners that load data into an asset management system to create an asset register. We implemented a state of the art reconciliation system to establish the completeness of the asset register and confirm the existence of over 300,000 assets.
This project was carried out in partnership with Ntumba Inc, who were the main contractors. The project entailed physical verification of assets for the client for all sites (over 200 sites) throughout Mpumalanga, assign new bar codes to every asset and offices, link old bar codes to new ones and producing a consolidated fixed asset register.
The verification exercise utilized electronic scanners that load data into an asset management system to create an asset register.
We were able to establish the completeness of the asset register and confirm the existence of over 7,000 assets for three separate entities and produced a consolidated register.
Our directors were assigned by SAICA to perform the following activities:
• Review and evaluate the internal control systems and processes in place at the relevant FET College and implement the suggested changes.
• Review the auditors reports in relation to the relevant FET College with a view to clearing up issues and concerns raised by the auditors and implementing systems to deal with these specific issues on a sustainable basis.
• Assist with the transfer of skills to relevant personnel, including the Chief Financial Officer of the FET College with a view to building capacity to manage its Financial affairs.
• Provide assistance and support to the relevant FET College with regard to the completion of the annual Financial statements for the relevant financial years.
• Assist and provide support to FETs/TVET colleges with the completion of monthly, quarterly annual Financial reports
• Assist and provide support with respect to the completion of Financial compliance, as required in terms of applicable requirements,
• Advise and assist with the implementation of the strategy of the relevant FET College and the Department of Higher Education and Training.
As Nduma, we have audited and/or prepared Annual Financial Statements for Financial Sector Charter Council (FSCC), Moving Ads, NIH subsidiaries, lngobamakhosi Telecomms Solutions, Sorbet, La-Mirage, Praise Christian Church, Social Space, Tsalanang Construction Management, Mogale Solution Providers (Pty) Ltd, and Happy Home Disabled Children Centre.
Further audit experience has been obtained through our individual directors.