Alec Teramayi - Accounting - Pretoria, Gauteng, South Africa

Masiyatsva Alec Teramayi

Pretoria, Gauteng, South Africa



  • Full time
  • Part time
  • One time
  • Contract
  • Temp


I am a qualified certified chartered Accountant with vast experience in auditing, accounting and administration. I started my career as a Trainee Accountant with Astra Holdings for five solid years (Conglomerate Company which was into Motor industry (Peugeot franchise, Barlow world franchise) Manufacturing i.e. Cairns Foods, Paprika, Paint and Steel industry)), where I covered extensive training in Financial accounting and administration, cost and management accounting General and strategic management and auditing under the guidance of a qualified Chartered Accountant (Financial Director). Astra Holdings is a group of companies which is into manufacturing, motor industry, and service industry and the government is the major shareholder. I moved up the ranks with the organization until I was the Group Internal Auditor. I transformed the organization into a viable and solid organization by ensuring that, operational and accounting systems were in place and were compiled by all subsidiaries of the group. I left the organization to join Twine & Cordage (Pvt) Ltd as a Country Accountant reporting to United Kingdom head office. I then joined NMB Bank limited (Listed on London stock exchange) as a Management Accountant and MBCA Bank Limited (Subsidiary of Ned bank Limited) as a Financial Accountant. I left Zimbabwe to pursue my career in South Africa in October 2007. I worked for Westside Trading (Hospitality industry) as Finance and Administration Manager before joining 3P consulting Services (Pvt) Ltd as a Management Accountant/Internal Auditing Consultancy in the department Gauteng healthy Services. I successfully implemented accounting policies and systems for various hospitals (Health institutions). I have amassed extensive experience and knowledge in financial management, corporate secretary ship, corporate governance, cost and management accounting, auditing, credit controlling, financial reporting, Auditing and taxation planning. I improved financial management an

Work History

BAS support

Quaashie Trading Consulting Services

April 2010 - July 2014

Period of Service April 2010 - July 2014

Duties / KPA
• Currently consulting to North West Provincial Government.
• Implementation of BAS accounting system in North West Provincial Government.
• Supporting staff with preparation of AFS, IFS and IYM report.
• Training staff on preparation of monthly reconciliation in line practice note number 1.
• Training staff on how to deal with audit queries (internal and external audits).
• Supporting North West Provincial government on BAS modules (Budgets, Receipts, Reporting, Journals, Payments, Entity, Debts, Bank exceptions, Budgets, Period Open and Close, Persal, Reporting).
• Responsible for coordination and training of client's staff in preparation of reconciliation, management accounts, variance analysis, financial reports commentary and system interface reconciliations (BAS)/Walker/Persal.
• Assist in period opening and closure on a monthly basis
• Assist the client in drawing down financial reports templates from Bas i.e Trial Balance, Month on month expenditure analysis.
• Clearing of BAS suspense accounts, bank exceptions, Persal exception and assisting BAS users
• Responsible for internal controls, system implementation and change management
• Client relationship management
• Assisting in management of NW Government Departments' operating expenses, before they are captured into WALKER (accounting system) and ensuring they are allocated and interfaced to proper segment allocations.
• Compile month end reports to assess project performance and to improve support methodologies.

Financial Managemnet and Budget control

Fund Management

From January 2010

1.1.10. Cost and Management Accounting and variance analysis
1.1.11. Stock Management

1.2. Human Resources and Staff Management
1.2.1. Day to day management, and performance of Finance Department
1.2.2. Recruitment of Finance Department Staff
1.2.3. Assist HR in payroll matters especially on recruitment of new staff.

1.3. Information Technology
1.3.1. Ensuring implementation of IT strategy
1.3.2. Management of Financial Packages
1.3.3. Involvement in management of Network Support Consultants

1.4. Training and Other
1.4.1. Tax Matters
1.4.2. Insurance Portfolio
1.4.3. Drafting and Training of policies and procedures
1.4.4. Training users of Oracle (PeopleSoft), BAUD, PERSAL, PAAB, MEDSAAS & and BAS.
1.4.5. Developing working instructions for Oracle for easy use by employees.

Auditor General of South Africa

April 2009 - March 2010

GL Manager - Finance
I was employed as a Finance Manager for Auditor General of South Africa on a fixed term contract to 31 March 2010, relieving an employee on maternity leave. I have successfully compiled annual financial statements for the year ending 31 March 2009. I have also been involved in the budget and forecast process for the period ending March 2010 and 2011 respectively. As a Finance Manager, it's imperative for him to read widely and extensively to keep up to date with current International and local business trends, accounting (IFRS), tax, labour legislation and visible corporate governance, in order to advise executive management with sound advice which add value to the business whilst maintaining the business relationship's integrity. Alec has also successfully compiled and implemented Finance policy and procedures for AGSA. He was the project coordinator of driving policies and procedures and was involved in rolling it out to Business units in AGSA. During his period at AGSA he transformed the Finance department in a formidable department and audit reports from internal and external were positive, a major shift from the previous reports.

Auditor General of South Africa (Pretoria, South Africa)
Duties, Responsibilities & Achievements
1.1. Financial Management
1.1.1. Ensuring quality and completeness of Annual Financial Statements and Annual Reports.
1.1.2. Ensuring quality and completeness of Management Accounts - Monthly
1.1.3. Cash flow projections
1.1.4. Forecasting and Budgeting
1.1.5. Liaison with Auditors and Banks
1.1.6. Monitoring of Capex and procurement management
1.1.7. Procurement Management
1.1.8. Financial Support to other divisions

Alec was employed as a Managing Consultant

3P Consulting (Pvt) Ltd

April 2008 - March 2009

(senior management level) in the Public Sector Consulting Division of 3P Consulting. He was in charge of managing the business relationship between 3P consulting Services and Gauteng Department of Health. However this did not preclude him from working in any other industry in which his skills were required. He combined his project management skills with actual service delivery.
As a consultant, it has been imperative for him to read widely and extensively to keep up to date with current International and local business trends, accounting (GAAP), tax, labour legislation and visible corporate governance, in order to offer his clients sound advice which adds value to the business whilst maintaining the business relationship's integrity.
For every assignment a risk assessment is conducted and risk factors are carefully managed and controlled throughout the assignment. As the human factor is the most important aspect of any consulting assignment, it has been necessary for Alec to grasp and implement Change Management in all assignments.

Management Accounting Services
• Responsible for coordination and training of client's staff in preparation of reconciliation, management accounts, variance analysis, financial reports commentary and system interface reconciliations (BAS, BAUD, PERSAL, PAAB, MEDAAS & SAP)
• Responsible for internal controls , system implementation and managing change
• Client relationship management
• Clearance of BAS suspense accounts, exceptions i.e bank exceptions, persal exceptions, payment exceptions etc.
• Assist client by training BAS users with respective functional areas which might need further clarifications and support.
• Assist in managing Hospital operating expenses before they are captured into SAP (accounting system) and ensuring that they are allocated to proper cost centers. In addition, ensuring that payments of payables are done after creditor's reconciliation and that the reconciliations are balancing and long outstanding...

Finance and Administration Manager

Westside trading

November 2007 - March 2008

Responsible for
* preparation of monthly financial management accounts for the company, (GL, Trial balance , Cashbook , Income statement, Balance sheet , Reconciliations)
* Preparation of financial statements according to International Financial Reporting standards(IFRS) and GAAP for two companies
* Carry out project appraisal s, cost benefit analysis of company investments and projects.
* Creditors and Debtors reconciliation and on Pastel, Acc Pac.
* supervision of accounts staff and improvisation of financial internal controls
* examine records for completeness and integrity of information
* Carry out risk assessment and management for the organizations.
* Authorization of company operating expenditure before they are captured into the accounting system and ensures that they are allocated to proper cost centre
* Carry out tests on existing costing systems for completeness, effectiveness and relevance to the underlying operations and recommend improvements where necessary.
* Prepare and coordinate management responses to auditor's queries, audit schedules for both internal and external audits for the company.
* Payroll Administration and Human Resources management
* Taxation compliance i.e. Vat, UIF, SDL, P.A.Y.E and all other SARS issues
* Provide financial, corporate governance and administrative advice to the board of directors.

Financial Accountant

Subsidiary of Nedbank

January 2006 - October 2007

(Reporting to Financial Director)
Alec was employed as the Financial Accountant of MBCA Bank a subsidiary of Nedbank group, a leading bank in the SADC (southern Developing Countries) and a member of Old Mutual group. As one of the senior managers, he sat on the EXCO and MACO meetings. His main focus was on positioning financial strategy of the company to ensure good governance, adequate risk management procedures and ensuring sound day to day running of financial policies. Alec also sat on the Audit Committee and Remuneration Committee of the company by invitation.
Responsible for
1.5. Executive Strategic Function
1.5.1. Develop and Maintain relevant policies for finance department including the Financial Procedures Manual.
1.5.2. Establish interdepartmental co-operation and liaison with other departments
1.5.3. Preparation of Business Plans, monitoring and assisting divisional managers in the preparation of their sections
1.5.4. Involvement in the Strategic Planning for the organization and Finance Department
1.5.5. In attendance at Board Meetings, MACO (Management Committee meeting), ALCO (Asset and liability committee meeting) and OPCO (Operation Committee meetings.
1.5.6. In attendance at Audit Committee.

1.6. Financial Management
1.6.1. Ensuring quality and completeness of Annual Financial Statements and Annual Reports.
1.6.2. Ensuring quality and completeness of Management Accounts - Monthly
1.6.3. Cash flow projections
1.6.4. Forecasting and Budgeting
1.6.5. Analyzing organization's performance against competitors based on annual and half year end financial reports published. Liaison with Auditors and central bank
1.6.6. Monitoring of Capex and procurement management
1.6.7. Procurement Management
1.6.8. Financial Support to other divisions
1.6.9. Fund Management

1.7. Human Resources and Staff Management
1.7.1. Day to day management, and performance of Finance Department
1.7.2. Recruitment of Finance Department Staff
1.7.3. Assist HR in payroll...

Management Accountant

Listed on London Stock Exchange

October 2002 - December 2005

(Reporting to General Manager Finance)
Responsible for
• Preparation of monthly management accounts, Board schedules / balance¬ sheet schedules and reviewing the reports for accuracy.
• Ensuring reports are produced timeously for monthly / quarterly management and board review.
• Preparing Annual Accounts / Half Yearly / Subsidiary Accounts¬ accurately and timeously.
• Analyzing organization's performance against competitors.
• Assist the Financial Director with improving policies and procedures in order to minimize operational and financial risk.
• Authorizing company operating expenditure before they are captured into the accounting system and ensuring that they are allocated to proper cost centre.
• Reviewing suspense and bank reconciliations on a daily, weekly and monthly basis.
• Identifying and bridging internal control gaps within the bank's internal control system in areas that are under Finance and Administration influence.
• Attaining satisfactory / minimum risk internal audit rating throughout the year by instituting adequate management controls.
• Reviewing sub-ledger accounts such as cash book, fixed assets register, creditors, debtors, and salaries.
• Preparing monthly departmental accounts.
• Compiling and revising budgets.

Country Accountant

Twine & Cordage MANU. Co. (PVT) LTD

January 2002 - September 2002

As Country Accountant and part of the executive management team in Zimbabwe, Alec provided a financial supportive role to the management team and also was able to contribute to the strategic direction of the Twine & Cordage Manufacturing Company. The management team focused on two aspects of running a profitable and going concern subsidiary; firstly ensuring that the subsidiary produced quality products which are competitive on the international market and also ensuring that the subsidiary has domestic and international market.

Responsible for
* Managed Finance department's daily operations, general administration and Human Resources. Ensuring domestic and foreign customers figures and statistics were accurate as a source for strategic and management decisions.
* Responsible for preparation of reports and financial statements to the main shareholders ie, UK holding company, Statutory returns Monthly executive management reports and various smaller shareholders. Fully in charge of preparing books for audit, and empowering junior staff in transfer of skills enabling them to participate in the Annual Financial Statement preparation.
* Responsible for payroll and labour related activities, ensuring labour laws were implemented in the company.
* Credit Control monitoring and debtors management. Managed to implement a system, which decreased debtors outstanding by 50%.
* Advised management to outsource part of the foreign sales function to a specialized sales house, tapping into the sales house expertise, whilst enhancing the incentives offered to in-house sales house. This led to sales increasing within six months by over 50%.
* Responsible for tax matters. Ensuring the subsidiary adhered to all applicable tax laws. Resolved long outstanding matter with tax authorities. Saving the company over $4 million.

• Implemented debtors system that reduced outstanding debtors by 50%.
• Increased sales by recommending outsourcing of sales function to specialized...

Group Internal Auditor

Astra Holdings

January 1998 - December 2001

Duties, Responsibilities & Achievements
• As planned with the¬ Group Internal Auditor reviews and checks all systems and controls within the group to ensure that they are adequate, are properly maintained, and provide reliable information to management.
• Carries out routine audit tests on cash, stocks, debtor and creditor systems, document controls, balance sheet accounts, staff salaries and wages, workshop and production systems. Initiates and carries out investigations into any irregularities disclosed by these tests.
• Undertakes and / or supervises defined work for the external auditors designed to take over time consuming and formal type audit work.
• Supervises and delegates work to internal auditors, internal audit clerks and TOPP students when necessary.
• Investigates and supervises investigations into fraudulent activities within the group when necessary, in consultation with the Group Internal Auditor and when applicable the Risk Control department.
• Makes recommendations to group internal Auditor where controls are needed or existing controls or systems are weak.
• Prepares reports for management for use by the Group Internal Auditor, covering the above activities.
• Assist the Group Internal Auditor in planning the work of the department.
• Assists the Group internal Auditor in recommending updates and revisions of the Accounting Standards Manual.
• Is responsible for on the job training of subordinates
• Undertakes any other work required by the Group Internal Auditor as and when required.

Trainee Accountant

Astra Holdings

November 1993 - December 1997

Financial accounting (Creditors, debtors, cashbook, fixed assets, nominal ledger accounts, and management reports, liaising with internal auditors and external auditors, statutory returns i.e. VAT returns and income tax returns, tax planning)
• Management accounting (product costing and variance analysis, work in progress reconciliations, management commentary, stores management, annual stock takes, coordinating and preparation of budgets)
• Internal Auditing.
• General and Strategic management (Managing subordinates, Involved in drafting company strategy designing, Analyzing company strategy against competitors, Human resources management).

• To be a fully- fledged administrator and a renowned Director
• To have an in- depth knowledge and experience in financial and developmental issues.

• Assertive and analytical
• Good interpersonal skills
• Pays attention to detail all the time
• Team player and takes initiative
• Pro-active
• Ethical and Professionalism
• Problem solving , Self motivated, Ability to work under pressure

Qualifications & Certifications


Oxford Brookes University

Business Communication

2. Institute of Chartered Secretaries and Administrators

Skillpages has been acquired by! is pioneering the way people find local services. Skillpages is the world’s premier directory of service providers.

Find out more

Are you sure that you want to leave?