Biography

David ia a Senior Associated with National Standard and also the Managing Director of THUSO Financial Consultants, an affiliate of NSFA. He is a fellow member of The Institute of Risk Management South Africa (IRMSA) and Institute of Internal Auditors South Africa (IIASA). David has more than 10 years extensive experience in Local Government, Government Departments and Entities spanning from Financial Management, External Audit, Tax Advisory, Risk Management and Internal Audit including the identification and analysis of operational and compliance risk. He also provides advice on accounting, financial and advice to SMEs. His detailed understanding of business risks has made him an asset in this services field as he ensures a high standard of client service delivery.

Some of David’s previous assignments that he has undertaken are in the following areas in both private and public sectors:

• Procurement Compliance Review to ensure compliance with procurement processes of organizations
• Financial Management Review involving tracing payments made to Service Providers on a sample basis to ensure accuracy and validity thereof
• Internal Control Improvement involving reviewing policies and procedures and recommending improvements to internal controls
• Reviewing compliance with Standard of Generally Recognised Accounting Practice (GRAP) compliant asset register and preparation of annual financial statements compliant with GRAP
• Management Accounting

• • Evaluation of internal controls and identifying risks and mitigating factors of an entity.
  • Evaluating financial information prepared by management for transparency and integrity.
  • Reviewing of project budgets i.e. assessing the reasonability of management assumption in key focus areas.
  • Evaluation of expenditure against set budgets and or set key milestones.
  • Reviewing of systems, accounting policies and procedures and evaluating their appropriateness relative to the organisation.

• Quality assurance through the performance of Audits, Agreed-upon Procedures, Review Engagements and Compliance tests in accordance with International Financial Reporting Standards and Applicable Regulations.
• Financial Accounting

• • Reviewing compliance of financial statements with statutory reporting requirements.
  • Preparing and/or reviewing financial statements in compliance with International Financial Reporting Standards (IFRSs), including consolidations and inflation-adjusted accounts.
  • Preparation of tax computations for both direct and indirect taxation, which include calculation of current and deferred taxation for clients.
  • Advising clients on the changes to International Financial Reporting Standards (IFRS).

• Financial Management

• • Analyzing client performance through ratio analysis
  • Advising clients on financing options for intended projects.
  • Reviewing and advising clients on investments and treasury policies.
  • Project feasibility and investment analysis.
  • Advising clients on working capital management.
  • Preparation of cash flow projections to enable financing from financial institutions to be accessed.

• Taxation

• • Preparation and review of tax computations which include capital gains tax and evaluating clients’ compliance with Valued Added Tax legislation and advising them accordingly.
  • Advising clients on new developments in tax legislation.
  • Preparation and review of tax computations which include capital gains tax and evaluating clients’ compliance with Valued Added Tax legislation and advise accordingly.