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Chartered Accountants and Registered Auditors

CorporateProfile


| Background LimSun is a black owned and black managed chartered accountancy firm. We offer Audit, Taxation and Business Advisory Services. Our audit services are designed to meet specific client needs. These include External Audit, Internal Audit, IT Audit and Forensic Audit services. We also assist our clients achieve effective tax compliance and provide advice on complex tax implications. Our advisory services include risk management and business consultancy. We help our clients with complex business transactions such as due diligence, deal structuring and acquisition transactions. We aim to establish ourselves as a premier business partner and achieve this by providing innovative and cost effective solutions to our clients. The combined experience and technical expertise put us in an ideal position to deliver world class and client focused solutions. Our approach is driven by our client’s needs and working together to achieve a common goal at a strategic and operational level. We are well positioned to respond to complex challenges facing our clients and adopt innovative solutions in assisting our clients achieve long term wealth, sustainability and service delivery.

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| Vision, Mission & Values Vision To be the biggest black owned chartered accountancy firm and a partner of choice amongst our clients.

Our Mission

To provide innovative and client focused solutions while we form strategic partnerships with our clients and assisting them in creating sustainable wealth.

Values » We act with the highest levels of professionalism. » We act in an ethical manner at all times. » We act with honesty and integrity. » We remain objective and independent in our engagements » We deliver world class solutions to our clients. » We put our client’s needs as our top priority.

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Experience in the public sector

We have significant experience in providing professional services to public sector clients. LimSun is a reputable practice with a proven track record. We have a strong team and network of chartered accountants and auditors. LimSun has established high standards for training, service delivery and quality assurance which have built its reputation in the market place.

Competent team of professionals

We have proposed to assign this engagement with a core team of professionals who have deep experience in all accounting and auditing areas covered within an organisation such as yours. Their knowledge and experience is supplemented by a network of local professionals.

Our trusted, objective advice

Objectivity is central to our professional integrity. LimSun’s internal governance and operational procedures ensure that this essential quality is not compromised. We have a strict code covering professional integrity, objectivity and ethics. Through this process, we are able to select a team that is totally objective.

Proven methodologies

Because of our knowledge, skills, significant research, rigorous yet flexible methodology and leading edge techniques, we believe that we bring to your organisation a practical and effective service offering. Our methodologies are aligned to best practices, accounting and auditing frameworks or standards such as IFRS, ISA, COSO, PMBOK, ISA, MFMA/PFMA and Prince2 among others. Our approach takes into consideration the fact that a significant level of co-operation between our team and yourselves will be required. This approach will establish an integrated project team including representative of your organisation’ staff and management in order to ensure that the service is sustainable.

Our empowerment credentials

For us empowerment and transformation are not buzzwords and/or flavour of the month talk, they translate into meaningful and visible progress within our business and how it is run. This has permeated through to the team that LimSun is proposing to service this opportunity. LimSun is 100% Black Owned and has a staff complement of over 50% women.

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| LimSun’s’ Competencies


| SERVICES LIM SUN AUDIT

TAX

External Audit

VAT Recovery

CORPORATE FINANCE

Internal Audit

Income Tax

Mergers and Acquisitions

Supply Chain Management

PFMA Compliance

IT Audit

Personal Tax and Payroll

Deal Structuring

Turn Around Strategy (Operation Clean Audit)

MFMA Compliance

Forensic Audit

Capital Gains Tax

Due Diligence

Internal Controls

GRAP Implementation

Asset Management and Infrastructure Assets (GRAP 17)

Financial Statements Preparation

Audit of Pre-determined Objectives

BUSINESS ADVISORY PUBLIC SECTOR

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| Attest Functions: External Audits Our attest function included conducting external audits or financial statements audits. We do our audits to meet the user expectations beginning with the completeness, accuracy and fair presentation of information in your financial statements and disclosures. We conduct statutory audits in both the public and private sector. The extensive experience our auditing teams have in conducting audits in both sectors ensures they are skilled in the very different requirements of public and private sector audits. Currently the majority of our external audit work is undertaken for the Auditor General. We work as part of the team appointed by him to perform public sector audits to achieve his objectives of credibility and transparency in financial reporting in the public sector. Our audit teams are committed to delivering reliable, independent audit reports. This requires us to be constantly vigilant that our audits comply with changing regulations and the professional standards of South African institute of Chartered Accountants, as well as International Auditing Standards.

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| Internal Audit LimSun Inc. can assist your organisation to achieve its stated objective, this is achievable through Assurance, Consulting, Enterprise Wide Risk Management, IT Audit and Security Risk Services that we offer as a firm. Our specialised team are experienced in using a systematic methodology for analysing business processes, procedures and activities with the goal of highlighting organisational problems across the entire concern and recommending solutions. LimSun’s Internal Audit service offering involves measuring compliance with the entity’s policies and procedures. Our auditors evaluate risk exposures relating to our client’s governance, operations and information systems, in relation to: • • • •

Effectiveness and efficiency of operations Reliability and integrity of financial and operational information Safeguarding of assets Compliance with laws, regulations and contracts.

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| IT Audit At LimSun we provide IT Auditing Services that is designed to examine controls within IT infrastructure that collects and evaluates evidence of an organisation’s information management systems, practices and operations. As a firm we are leaders in collaborating with our clients to achieve their stated objective through the service offering of Assurance, Consulting, Enterprise Wide Risk Management, IT Audit and Security Risk Services. We have successfully assisted past and current organisations to understand the key technology risks and how the company is mitigating and controlling those risks, in addition providing insight into the threats inherent in today's highly complex technologies.

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| Forensic Audit Forensic auditing is the specialty practice of accounting that investigates the fraud or the presumptive fraud within a company with a view to gathering evidence that could be presented in a court of law or for any legal representational purposes. Since corruption detection is of paramount importance to all organisations today, we provide recommended preventative measures, over and above our Forensic Services, to enable the early prevention and detection of fraud and corruption. To this end we provide the following services: • • • •

Forensic Accounting and Fraud Investigations Special Investigations and Expert Services Training on Early Detection Techniques Conducting Trainings on Fraud Investigations and Early Detection

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| Consulting Our professional services include offering our clients an effective and whole-service solution and response to any and all of their technical, financial and strategic direction requirements, and or any other related business concerns. To this end, we include the following services, amongst others: • • • • • •

Due Diligence Investigations, Financial Consulting, Asset Management Solution, Risk Management Solutions, Supply Chain Solutions, Human Resource Capacity Building

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| Risk Management Risk Management often focuses on matters of insurance, however, there are several other major considerations when assessing areas of risk in your business and at LimSun we provide a range of tools and capabilities which includes: • • • • •

Business process (including internal audit, compliance and risk management development) Risk assessment and risk register development Fraud preventions and detection Information protection Software being utilised KnowRisk & Barnowl

We have continuously earned our customers’ trust and confidence by empowering them with reliable and accurate information, maintaining the highest levels of integrity in all that we do quickly and most responsively. Our solutions are sustainable and our clients are able to execute risk management responsibilities post auditing assignment period with LimSun Inc.

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| Asset management solutions Whether you’re a manufacturer, distributor, government entity or service provider enterprise protection solutions of your equipment and facilities is inevitable to ensure smooth, safe and reliable operations. Our products will not only assist with the latter but also deliver business value fast, reduce cost of ownership, minimize risk and improve your staff’s productivity. What we can do for you: • • • • •

Schedule preventative maintenance, assign resources Uptime – establish how to enhance capital assets Predict equipment reliability issues to prevent risk Reduce inventory and purchasing cost Manage assets ensuring delivery of corporate performance goals

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| Supply-chain Management Should you need to reduce operating cost, improve customer service, become more profitable or grow your business LimSun can assist you with: • • • • •

Strategic Network Design – We can design the best supply chain network to meet your service goals Demand Planning – Accurately predict and shape customer demand Distribution Planning – Gain visibility to better balance service levels and inventory Manufacturing Planning – Maximize your manufacturing assets Supplier Management – Boost collaboration to reduce cost

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| Human Resource Capacity Building LimSun Inc. have developed processes that allows our consumers to make definite steps to encourage participation in analysis, planning, monitoring and evaluation by building capacity of stakeholders to converge in management. HR Capacity Building is much more than training; we can boost your performance by improving: • • • •

HR – Optimize the entire recruit to retire process Benefits Administration – Manage any assortment of benefit plans without compromising security Offer flexible, easily managed benefits programs Set sensible competitive pay policies

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| Corporate Governance Because of the ever-growing critical nature and importance of Corporate Governance, we at LimSun Inc. place much emphasis on this, across all our Internal Auditing projects and initiatives. We have carried out numerous Corporate Governance reviews on behalf of our clients, and as much as twice yearly for those clients requiring this service. Our Corporate Governance clients include the likes of the Health Professionals Council of South Africa, Metropolitan Trading Company and National Arts Council, to mention but a few. In carrying out our Governance Reviews - across both the private and the public sector - we strive to ensure that our clients fully comply with best practice across all of their governance structures. We take this opportunity to acquaint you with the latest King Report on Corporate Governance was published by the King Committee on Corporate Governance, headed by former High Court judge, Mervyn King S.C. This Report incorporating a Code of Corporate Practices and Conduct, and was the first of its kind in the country aimed at promoting the highest standards of Corporate Governance in South Africa. King report advocated financial and regulatory aspects in an integrated approach to good governance in the interests of a wide range of stakeholders. The evolving global economic environment together with recent legislative developments, have necessitated that King report be updated.

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| Experience We have conducted audits for a variety of clients including JSE listed companies, Small and Medium sized entities and public sector clients. These are some of the companies we’d previously managed Other clients whom we have conducted work for

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Client name

Project

Thaba Chweu Local Municipality

Designing supply chain management checklist

Nkomazi Local Municipality

Auditing and implementation of controls within the accounts payable cycle

Department of Agriculture

Turnaround Strategy

Mpumalanga Economic Growth Agency

Turnaround Strategy

Massmart/Makro

Finance Training

Eskom

Skills Development Audit

Sasseta

Forensic Investigation

Satawu

Forensic Investigation

Coneco Consulting

External Audit

Settlers Agricultural High School

External Audit

City of Tshwane Municipality

Asset verification

Ceppwawu

External Audit


We have conducted audits for a variety of clients including JSE listed companies, Small and Medium sized entities and public sector clients. These are some of the companies we’d previously managed Other clients whom we have conducted work for Client name

Project

Sasol

External Audit

Fraser Alexandra Holdings Pty Ltd

External Audit

AFRICAN BRICKS CENTRE PTY (LTD

External Audit

CITY YEAR SOUTH AFRICA

External Audit

CLARIANT SOUTHERN AFRICA (PTY) LTD

External Audit

BASF COATINGS (PTY) LTD

External Audit

Murray & Roberts Holdings Limited

External Audit

Murray & Roberts Buildings Products

External Audit

PPC Limited

External Audit

PPC Aggregates

External Audit

Pronto Readymix

External Audit

PPC SBP Consortium Funding SPV

External Audit

Japanese Tobacco International

External Audit

Japanese Tobacco International Manufacturing

External Audit

Lliad General Building Materials

External Audit

Nu Metro Cinemas (Division of Avusa)

External Audit

Tourvest Financial Services

External Audit

Tourvest Holdings Group

External Audit

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| Employment Equity Company ownership profile LimSun is 100% black owned by previously disadvantaged individuals. Total Staff Profile At LimSun, we are committed to transformation and developing our staff to be future leaders. More than 50% of our staff is women. Rank Partner Senior Professional Junior Professional Admin & Support Totals

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Male Black 2 2 5 2 12

White -

Female Black 3 8 3 14

White -

Total Employees 3 5 13 5 26


Concerted efforts made to promote employment equity At LimSun, we are a 100% black owned entity with proven track record. We are committed to empowering other previously disadvantaged individuals especially women. As a result, more than 50% of our staff is black women. In terms of our Employment Equity policy which we adhere to, we are committed to the following Eliminating unfair discrimination This refers to removing any form of discrimination direct or indirectly against any employee irrespective of race, gender, cultural belief etc. Offering equal opportunities to everyone This refers to creating an environment that is conducive to creating equal access to opportunities thereby enabling employees to achieve their full potential. Valuing diversity This refers to the development of an organizational culture that encourages understanding and appreciation of diverse backgrounds of all employees.

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| Employment Equity SHILLYBOY MOTHIBA - PARTNER Educational Background

Bachelor of Accountancy | The University of the Witwatersrand

Qualifications

Qualified Chartered Accountant

Membership

» South African Institute of Chartered Accountants (SAICA) » Independent Regulatory Board for Auditors (IRBA) » The Association for the Advancement of Black Accountants (ABASA) » Black Management Forum (BMF) » Progressive Business Forum (BPF)

Employment Profile

KPMG | Audit Clerk Sombula Chartered Accountants | Senior Audit Manager Theepa Construction Group | Director LimSun Chartered Accountants | CEO

Experience

Shillyboy served his articles with KPMG, one of the leading international firms. He audited and managed some of high profile audits within the private sector. These include the following: » Gauteng Department of Agriculture and Rural Development » Mpumalanga Economic Growth Agency » Department of Home Affairs » Sasol » Satawu » City Power Ltd » CEPPWAWU » Clariant » Sasseta » BASF » Emadlangeni Local Municipality

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Lot Magosha Educational Background

Bachelor of Commerce Honours | The University of the Witwatersrand

Membership

» South African Institute of Chartered Accountants (SAICA) » Independent Regulatory Board for Auditors (IRBA) » The Association for the Advancement of Black Accountants (ABASA) » Black Management Forum (BMF) » Progressive Business Forum (BPF)

Qualifications

Qualified Chartered Accountant

Employment Profile

Deloitte | Audit Clerk Deloitte | Audit Manager Tourvest Holdings Group | Internal Audit Senior Manager

Board and Committee Membership

Director of various companies

Experience

Lot served his articles with Deloitte, one of the leading international firms. He audited and managed some of high profile audits within the private sector. These include the following: » Murray & Roberts » Tourvest Holdings Group » PPC Limited » Pronto Readymix » Nu Metro Cinemas » PPC Aggregates » Tourvest Financial Services » Murray & Robert Buildings Products » PPC SBP Consourtium Funding SPV » lliad General Building Materials

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|

Transformation

LimSun is a level 1 contributor in terms of the Broad Based Black Economic Empowerment. LimSun believes in growing other small black owned businesses. As a result, we procure all our goods from black owned companies.

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| Contact Us Company Name: Registration number:

LimSun Inc. 2013/095761/07

Address:

1st Floor South 345 Rivonia Road Rivonia 2499

Contact person: Tel: Contact number: Fax: E-mail:

Shillyboy Mothiba 010 590 5555 074 589 6439 086 535 8285 info@limsun.co.za Shillyboy.mothiba@limsun.co.za

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LimSun Chartered Accountants  

LimSun is a black owned and black managed chartered accountancy firm. We offer Audit, Taxation and Business Advisory Services. Our audit ser...

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