TECHNICAL AND PROFESSIONAL SKILLS REVIEW€¦ · ProBeta Assessment Tool - TECHNICAL AND PROFESSIONAL SKILLS REVIEW - 31-Aug-2016 - Page 5 of 17 Trainee's comment i.r.o reviewer's

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TECHNICAL AND PROFESSIONAL SKILLS REVIEW

COVER PAGE 1

Date of initiation: 29-Aug-2016 Period of training contract: Period ATrainee name: Belinda Vuyiswa Gumede Reviewer name: Helomi BarlowSigned by trainee: Yes Signed by reviewer: YesDate of finalisation : 09-Sep-2016 Date of review: 31-Aug-2016Description of assignment: Sabre Resources Namibia

Indicators of complexity: (Trainingoffices may include their own specificindicators should they wish to do so.)

Annual turnover RAudit fee ROverall complexity of this assignment Advanced

Other indicators / factors that influencethe complexity of this assignment

Specific competencies (or tasks)identified as Advanced within anassignment generally regarded as Basic

COVER PAGE 2

COMPETENCY TO BE ACHIEVED Tickcompetency inwhich you are

presenting yourevidence

TECHNICAL SKILLSAccounting and External Reporting - Compulsory

AE(C)1 Selects appropriate accounting framework and policies XAE(C)2 Accounts for the entity's transaction, including non-routine transactions XAE(C)3 Prepares or evaluates financial statements and accompanying notes XAE(C)4 Interprets financial statements X

Auditing and Assurance - ElectiveAA(E)1 Performs pre-engagement activities XAA(E)2 Obtains an understanding of the entity and its environment XAA(E)3 Identifies and evaluates the risk of material misstatement XAA(E)4 Calculates and justifies planning materiality XAA(E)5 Designs effective and efficient procedures XAA(E)6 Executes the work plan, documents and evaluates results XAA(E)7 Completes the engagement XAA(E)8 Prepares information for meetings with stakeholders XAA(E)9 Identifies and responds to reportable irregularities

Financial Management - ResidualFM(R)1 Analyses the entity's financial situation XFM(R)2 Monitors cash flow FM(R)3 Analyses the entity's working capital XFM(R)4 Appraises capital investment decisions FM(R)5 Estimates the value of the business

Management Decision-Making and Control - ResidualMD(R)1 Identifies the entity's/business unit's key performance indicators MD(R)2 Prepares, analyses and monitors budgets MD(R)3 Analyses and interprets budget variances

Taxation - ResidualTX(R)1 Calculates income tax payable and prepares income tax return for an individual TX(R)2 Calculates income tax payable and prepares income tax return for a corporation XTX(R)3 Calculates other taxes payable & prepares appropriate returns TX(R)4 Discloses all tax information and computations correctly in the financial statements X

Internal Audit, Risk Management and Governance - ResidualIR(R)1 Identifies and evaluates the risks pertaining to the financial information system IR(R)2 Identifies and documents the key internal controls (including IT related controls) implemented in an entity XIR(R)3 Evaluates internal control XIR(R)4 Conducts governance reviews in accordance with appropriate governance standards

PROFESSIONAL SKILLSBusiness Ethics - Compulsory

BE(C) Acts ethically and in accordance with the rules of professional conduct XManagement and Leadership - Compulsory

ML(C) Demonstrates an ability to manage and lead X

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Personal Attributes - CompulsoryPA(C) Maintains awareness of new developments, exercises initiative, communicated effectively and strives

constantly to add valueX

Information Technology - CompulsoryIT(C) Uses IT as a means of working more efficiently and effectively X

OVERALL PERFORMANCE EVALUATION Final Rating (Not SAICA required) X


TECHNICAL SKILLS REVIEW Rating criteria1: Not capable of performing A: Advanced2: Capable with significant / frequent intervention B: Basic3: Capable with limited / periodic intervention4: Capable with no intervention

ACCOUNTING AND EXTERNAL REPORTING - COMPULSORYCOMPETENCY: AE(C)1 - Selects appropriate accounting framework and policiesTasks to be performed: Rating by

traineeRating byreviewer

A/B Reviewer's comment

AE(C)1.1 Based on the entity’s financial reporting needs and the stakeholders identified, decides on theappropriate accounting framework

3 4 A No assistance was given to trainee

AE(C)1.2 Selects or evaluates accounting policies within the appropriate accounting framework that most fairlypresent the financial situation

3 4 A No assistance was given to trainee

AE(C)1.3 Develops or evaluates accounting policies in accordance with the accounting framework 4 4 A Trainee's reflection on professionalskills utilised in demonstrating theircompetence in the performance ofthese tasks.

Performed the planning

Trainee's comment i.r.o reviewer'srating for this outcome:

Accept

COMPETENCY: AE(C)2 - Accounts for the entity's transaction, including non-routine transactionsTasks to be performed: Rating by



AE(C)2.1 Analyses and calculates, or evaluates the accounting for routine transactions, for example sales, costof sales, operating expenses, etc.

3 3 A

AE(C)2.2 Analyses and calculates, or evaluates the accounting for non-routine transactions, for example mergersand acquisitions, divestitures, provisions etc.

3 3 A

AE(C)2.3 Performs or evaluates reconciliations of financial information (e.g. bank reconciliations, accountspayable reconciliation, general ledger control account reconciliations, reconciliations betweenmanagement accounts and the general ledger, etc.)

3 3 A

Trainee's reflection on professionalskills utilised in demonstrating theircompetence in the performance ofthese tasks.

Performed substantive tests


Accept

COMPETENCY: AE(C)3 - Prepares or evaluates financial statements and accompanying notesTasks to be performed: Rating by



AE(C)3.1 Prepares or evaluates financial statements in accordance with the identified accounting framework 3 3 A AE(C)3.2 Prepares or evaluates notes to the financial statements in accordance with the identified accounting

frameworks3 2 A Not enough due care with preparation of AFS


AE(C)3.3 Prepares or evaluates the non-financial information in the annual financial statements, e.g. Directors’Report, Corporate Governance Report, Sustainability Report

3 3 A


Performed the planning of the audit and selected the appropriate frameworks.


Accept

COMPETENCY: AE(C)4 - Interprets financial statementsTasks to be performed: Rating by



AE(C)4.1 Calculates profitability, efficiency (activity), solvency and liquidity ratios from the financial statements 3 3 A AE(C)4.2 Based on the ratios calculated in AE(C)4.1, analyses and explains the financial performance of the

business, and provides recommendations from analysis3 3 A


Performed the overal analytical review


Accept

AUDITING AND ASSURANCE - ELECTIVECOMPETENCY: AA(E)1 - Performs pre-engagement activitiesTasks to be performed: Rating by



AA(E)1.1 Identifies, for review and input by others, the nature, scope, standards and legislation applicable to aparticular engagement

3 3 A

AA(E)1.2 Evaluates, for review and input by others, the overall risk in accepting an engagement 3 3 A AA(E)1.3 Drafts an appropriate engagement letter for a new engagement or outlines the appropriate content for

such a letter3 3 A


Perforrmed planning for the group


Accept

COMPETENCY: AA(E)2 - Obtains an understanding of the entity and its environmentTasks to be performed: Rating by



AA(E)2.1 Obtains a qualitative understanding of the entity and its environment and documents this information inan appropriate format

3 3 A

AA(E)2.2 Obtains an understanding of and documents the entity's information system and key internal controls(including IT controls)

3 3 A

AA(E)2.3 Identifies and documents the major classes of transactions and balances for an engagement entity 3 3 A Trainee's reflection on professionalskills utilised in demonstrating theircompetence in the performance ofthese tasks.

Performed substantive tests



Accept

COMPETENCY: AA(E)3 - Identifies and evaluates the risk of material misstatementTasks to be performed: Rating by



AA(E)3.1 Evaluates and documents the adequacy of the design of control activities in the prevention or detectionof material misstatement, and suggests improvements where appropriate

3 3 A

AA(E)3.2 Evaluates and documents the risk of material misstatement at an overall financial statement level 3 3 A AA(E)3.3 Evaluates and documents the risk of material misstatement at the account balance level by assertion 3 3 A AA(E)3.4 Evaluates and documents the risk of fraud 3 3 A AA(E)3.5 Identifies and documents the significant risks that could result in material misstatement 3 3 A Trainee's reflection on professionalskills utilised in demonstrating theircompetence in the performance ofthese tasks.

Performed the planning of the audit


Accept

COMPETENCY: AA(E)4 - Calculates and justifies planning materialityTasks to be performed: Rating by



AA(E)4.1 Identifies and documents the factors that affect planning materiality 4 4 A AA(E)4.2 Calculates and documents a justifiable level of planning materiality for an engagement 4 4 A Trainee's reflection on professionalskills utilised in demonstrating theircompetence in the performance ofthese tasks.

Performed the planning of the audit


Accept

COMPETENCY: AA(E)5 - Designs effective and efficient proceduresTasks to be performed: Rating by



AA(E)5.1 Identifies and documents appropriate tests of internal control (including IT internal controls, whereappropriate), including the determination of sample sizes and methods of selection

3 3 A

AA(E)5.2 Identifies and documents appropriate substantive tests of detail, including the determination of samplesizes and methods of selection

3 3 A

AA(E)5.3 Identifies and documents appropriate substantive analytical review procedures 3 3 A AA(E)5.4 Considers and documents the need for using the work of others in conducting the audit (experts,

internal auditors or other auditors)3 3 A

AA(E)5.5 Considers and documents the need to use computer assisted audit techniques to gather suitable auditevidence

3 3 A


Performed planning and substantive tests


Accept


COMPETENCY: AA(E)6 - Executes the work plan, documents and evaluates resultsTasks to be performed: Rating by



AA(E)6.1 Performs and documents the planned tests of internal control and identifies situations wherefollow-up/extended work is required

3 3 A

AA(E)6.2 Performs and documents the planned substantive tests of detail and identifies situations wherefollow-up/extended work is required

3 3 A

AA(E)6.3 Performs and documents the planned substantive analytical review procedures and identifies situationswhere follow-up/extended work is required

3 3 A

AA(E)6.4 Draws conclusions on whether the procedure meets the stated objective 3 3 A AA(E)6.5 Modifies the audit plan, where necessary, in response to the results of procedures performed 3 3 A Trainee's reflection on professionalskills utilised in demonstrating theircompetence in the performance ofthese tasks.

Perfomed substantive tests


Accept

COMPETENCY: AA(E)7 - Completes the engagementTasks to be performed: Rating by



AA(E)7.1 Analyses and discusses the impact of unadjusted errors on the audit report and the need for additionalwork

3 3 A

AA(E)7.2 Identifies and adequately documents subsequent events and considers their impact on the audit report 3 3 A Trainee's reflection on professionalskills utilised in demonstrating theircompetence in the performance ofthese tasks.

performed the finalisation of the audit


Accept

COMPETENCY: AA(E)8 - Prepares information for meetings with stakeholdersTasks to be performed: Rating by



AA(E)8.1 Prepares, for review and input by others, the report to management on findings arising from theengagement

3 3 A


performed the finalisation of the audit and report to management


Accept

FINANCIAL MANAGEMENT - RESIDUALCOMPETENCY: FM(R)1 - Analyses the entity's financial situationTasks to be performed: Rating by



FM(R)1.1 Analyses and documents the entity’s/business unit’s/engagement client’s financial position (forexample, using financial analysis, ratio analysis, trend analysis and/or cash flow analysis)

3 3 A



Performed the preliminary and overall analytical Review


Accept

COMPETENCY: FM(R)3 - Analyses the entity's working capitalTasks to be performed: Rating by



FM(R)3.1 Analyses and documents the entity’s/business unit’s current working capital position or components ofit (for example, inventory, accounts receivable or payable management) and documentsrecommendations for improvement

3 3 A


Performed the preliminary and overall analytical Review


Accept

TAXATION - RESIDUALCOMPETENCY: TX(R)2 - Calculates income tax payable and prepares income tax return for a corporationTasks to be performed: Rating by



TX(R)2.1.1 Collects and calculates the information needed to file the tax return for a corporation, considering typeof corporation (for example, private, public, small business corporation, employment, foreign)

3 3 A

TX(R)2.1.2 Collects and calculates the information needed to file the tax return for a corporation, consideringinclusion and classification of income (for example, active business income, income from property,capital gains, exemptions)

3 3 A

TX(R)2.1.3 Collects and calculates the information needed to file the tax return for a corporation, consideringdeductibility of expenses (for example, capital allowance, assessed losses and special allowances)

3 3 A

TX(R)2.1.4 Collects and calculates the information needed to file the tax return for a corporation, considering taxdeduction and credits (for example, small business deduction, general tax reduction)

TX(R)2.2 Prepares the Income Tax return TX(R)2.3 Calculates secondary tax on companies or equivalent shareholder tax Trainee's reflection on professionalskills utilised in demonstrating theircompetence in the performance ofthese tasks.

performed the tax calculation


Accept

COMPETENCY: TX(R)4 - Discloses all tax information and computations correctly in the financial statementsTasks to be performed: Rating by



TX(R)4.1 Discloses all relevant tax information and amounts in the financial statements of an entity inaccordance with guidance provided by the relevant accounting standards

3 3 A

TX(R)4.2 Calculates and correctly discloses deferred tax in the financial statements 3 3 A



Prepared the annual financial statements


Accept

INTERNAL AUDIT, RISK MANAGEMENT AND GOVERNANCE - RESIDUALCOMPETENCY: IR(R)2 - Identifies and documents the key internal controls (including IT related controls) implemented in an entityTasks to be performed: Rating by



IR(R)2.1 Documents the entity's key business processes and key controls (including IT controls) including thecontrol environment, information system, business processes and control activities (general andapplication controls)

3 3 A


documented and tested the key controls during the planning


Accept

COMPETENCY: IR(R)3 - Evaluates internal controlTasks to be performed: Rating by



IR(R)3.1 Evaluates internal control in the context of the criteria / recognized framework and suggestsimprovements where deficiencies are identified

3 3 A

IR(R)3.2 Assesses whether existing internal controls are functioning properly or if additional controls are neededand communicates ideas to supervisor

3 3 A


documented and tested the key controls during the planning


Accept


PROFESSIONAL SKILLS REVIEW Rating levels1: Not Demonstrated2: Demonstrated with significant / frequent intervention3: Demonstrated with periodic / limited intervention4: Demonstrated without intervention

BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)1: Displays honesty and integrity

Trainee evidence presented Review of EvidenceDate of

evidenceAssignment description Evidence presented in support of rating Rating by


Reviewer's comments (if necessary)

11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Completion of a timesheet that is reviewed 4 4 BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)2: Carries out work with a desire to exercise due care





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Proper completion of working papers 4 3 Errors on AFS as well as the amount of queriesreceived on work for level of experience

BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)3: Maintains objectivity and independence





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Signed independance on the planning memorandum 4 4 BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)4: Avoids conflict of interest





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Signed independance on the planning memorandum 4 4 BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)5: Protects the confidentiality of information





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Signed independance on the planning memorandum 4 4 BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)6: Maintains and enhances the profession’s reputation






11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Adheres to proffessional ethics 4 4 BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)7: Adheres to the rules of professional conduct, including the SAICA Code of Professional Conduct





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Adheres to proffessional ethics 4 4 BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)8: Identifies and adequately responds to potential ethical dilemmas





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Meetings with the partner .kick off meeting 4 4 BUSINESS ETHICS - COMPULSORY: ACTS ETHICALLY AND IN ACCORDANCE WITH THE RULES OF PROFESSIONAL CONDUCTBE(C)9: Applies ethical principles to business activities, business decisions and policy development





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd CRVW policy when conducting the audit 4 4 Trainee's comment i.r.o reviewer's rating for this outcome: Accept

MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.1: Keeps abreast of global and local economic events through reading and interpreting the financial and business press





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Watch the news and read newapapers and magazines 4 4 MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.2: Identifies critical factors in the economic, social, legislative, regulatory and political environment that impacts on business and financial decisions of an entity





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Identified how the Ministry of mines and Energy ammendedits conditions of renewing EPLS by if the company is ownedby at least 25% blacks and how the delay to renew thelicence affetcted the exploration of minerals resulting in therretrenchment of employees and significant reduction inoperations

4 4

MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.3: Identifies the factors which impact an entity’s financial strategies






11-Jul-2016 Sabre Resources Namibia (Pty) Ltd The Entity should offer shares at N$1 to Namibians andemploy black Namibians at management level so as to beable to meet the prospective requirements of the Ministry ofmines and energy so as to continue with the exploration ofminerals as there is a signifcant amount invested in theexploration activities

4 4

MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.4: Applies project management techniques, such as developing milestones, managing resources, meeting deadlines, etc.





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd deadlines were met 4 3 Juniors budgets were out of hand.Juniors work was not up to standard.Had to request follow up on bank confirmation onday of reporting to AUS

MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.5: Leads effective meetings





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Had meetings with the juniors daily for work to be done forthat day and updates on previous days work

4 3 Juniors budgets were out of hand.Juniors work was not up to standard.

MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.6: Respects deadlines, manages time and organizes tasks logically





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd meet deadlines 4 3 Had to request follow up on bank confirmation onday of reporting to AUS

MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.7: Delegates tasks effectively





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Delegated tasks to juniors effectively 4 2 Trainee does not delegate effectively, she tries tomanage on het own, instead of spreading the workload between all team members to make it moremanageable

MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.8: Manages and supervises others effectively






11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Managed the juniors effectively 3 2 Juniors did not do as was instructed, had majoroverruns and their work was not up to standard

MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.9: Works effectively with colleagues and clients from diverse backgrounds and cultures





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Worked effectively with audit team and client 4 4 MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.10: Collaborates with colleagues and works effectively as a team member





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Works effectively with the audit team 4 4 MANAGEMENT AND LEADERSHIP - COMPULSORY: DEMONSTRATES AN ABILITY TO MANAGE AND LEADML(C)1.11: Resolves conflict and negotiates appropriate solutions





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd No conflicts noted Trainee's comment i.r.o reviewer's rating for this outcome: Accept

PERSONAL ATTRIBUTES - COMPULSORY: MAINTAINS AWARENESS OF NEW DEVELOPMENTS, EXERCISES INITIATIVE, COMMUNICATED EFFECTIVELY AND STRIVES CONSTANTLY TO ADDVALUEPA(C)1: Responds and adapts to change





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Adapted well to the research industry 4 4 PERSONAL ATTRIBUTES - COMPULSORY: MAINTAINS AWARENESS OF NEW DEVELOPMENTS, EXERCISES INITIATIVE, COMMUNICATED EFFECTIVELY AND STRIVES CONSTANTLY TO ADDVALUEPA(C)2: Identifies problems, conducts research, evaluates evidence and makes appropriate decisions





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Researched ifrs for SMES and applied it to the audit. 4 4 PERSONAL ATTRIBUTES - COMPULSORY: MAINTAINS AWARENESS OF NEW DEVELOPMENTS, EXERCISES INITIATIVE, COMMUNICATED EFFECTIVELY AND STRIVES CONSTANTLY TO ADDVALUEPA(C)3: Asks appropriate and probing questions to obtain required information






11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Had various meetings with the client to discuss client issues 4 4 PERSONAL ATTRIBUTES - COMPULSORY: MAINTAINS AWARENESS OF NEW DEVELOPMENTS, EXERCISES INITIATIVE, COMMUNICATED EFFECTIVELY AND STRIVES CONSTANTLY TO ADDVALUEPA(C)4: Communicates effectively in written format





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Prepared bank and loan confirmation 4 3 Documentation on working papers still needsimprovement

PERSONAL ATTRIBUTES - COMPULSORY: MAINTAINS AWARENESS OF NEW DEVELOPMENTS, EXERCISES INITIATIVE, COMMUNICATED EFFECTIVELY AND STRIVES CONSTANTLY TO ADDVALUEPA(C)5: Communicates effectively in verbal format





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Communication with the engagement partner,manager,Client andbank

4 4

PERSONAL ATTRIBUTES - COMPULSORY: MAINTAINS AWARENESS OF NEW DEVELOPMENTS, EXERCISES INITIATIVE, COMMUNICATED EFFECTIVELY AND STRIVES CONSTANTLY TO ADDVALUEPA(C)6: Takes responsibility for own development





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd In progress with cta studies. 4 4 Trainee's comment i.r.o reviewer's rating for this outcome: Accept

INFORMATION TECHNOLOGY - COMPULSORY: USES IT AS A MEANS OF WORKING MORE EFFICIENTLY AND EFFECTIVELYIT(C)1: Effectively uses IT applications including spreadsheets, word processing, presentation and e-mail





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Used excel working papers 4 4 INFORMATION TECHNOLOGY - COMPULSORY: USES IT AS A MEANS OF WORKING MORE EFFICIENTLY AND EFFECTIVELYIT(C)2: Effectively uses the internet as a source of information





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Used the internet to research on the current bank rates toperform reasonability test

4 4

INFORMATION TECHNOLOGY - COMPULSORY: USES IT AS A MEANS OF WORKING MORE EFFICIENTLY AND EFFECTIVELYIT(C)3: Applies procedures and controls to ensure integrity and security of personal IT resources, e.g. password protection, backup procedures, anti-virus measures, etc.

Trainee evidence presented Review of Evidence


Date ofevidence

Assignment description Evidence presented in support of rating Rating bytrainee

Rating byreviewer


11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Made backups daily 4 4 INFORMATION TECHNOLOGY - COMPULSORY: USES IT AS A MEANS OF WORKING MORE EFFICIENTLY AND EFFECTIVELYIT(C)4: Assesses IT risks and how they are managed





11-Jul-2016 Sabre Resources Namibia (Pty) Ltd Performed planning 4 4 Trainee's comment i.r.o reviewer's rating for this outcome: Accept


OVERALL PERFORMANCE EVALUATION Rating criteria1: Does not meet requirements2: Requires further development3: Meet requirements4: Exceptional

Rating bytrainee

Rating byreviewer

Reviewer's comment

TOPIC: OVERALL PERFORMANCE EVALUATIONOUTCOME: FINAL RATINGFinal Rating 3 3 Areas that require attention:

DelegationManagement of juniorsDocumentation on working papersMore due care on AFS before they are presented forreview.Print it out and first review the printed set yourself.

Trainee's comment i.r.o reviewer's rating for this outcome: Accept


SUMMARY OF DEVELOPMENTAL AREASDevelopmental areas arising from previous TSR/PSR Addressed?

ML(C)1.1 Keeps abreast of global and local economic events through reading and interpreting the financial and business press NoML(C)1.3 Identifies the factors which impact an entity’s financial strategies NoML(C)1.7 Delegates tasks effectively NoML(C)1.11 Resolves conflict and negotiates appropriate solutions NoAA(E)7.1 Analyses and discusses the impact of unadjusted errors on the audit report and the need for additional work NoAA(E)9.1 Identifies and communicates potential unlawful acts or omissions where there may be reason to believe that it may constitute a reportable irregularity NoFM(R)2.1 Prepares or reviews a cash flow forecast for an entity/business unit/engagement client NoFM(R)4.1 Documents the financial implications of an investment decision using the appropriate capital budgeting techniques NoMD(R)1.1 Identifies and documents financial and non-financial performance indicators that are key to the entity/business unit/audit engagement, including any

industry-specific benchmarksNo

MD(R)1.2 Critically evaluates and documents the applicability of the performance measurement system to measure the key performance indicators NoMD(R)2.1 Prepares a budget for a entity/business unit/audit engagement, with clearly documented assumptions NoMD(R)2.2 Performs sensitivity analysis on prepared budgets, varying key assumptions to document a range of possible outcomes NoMD(R)3.1 Analyses the actual performance against budget, and documents the findings NoMD(R)3.2 Investigates and documents reasons for variances NoMD(R)3.3 Develops, for input and review by others, a plan to address variances NoTX(R)1.1.1 Collects and calculates the information needed to file the tax return for an individual, considering inclusion and classification of income from different sources (for

example, employment including fringe benefits and lump sum benefits, property, business, capital gain / loss, other income)No

TX(R)1.1.2 Collects and calculates the information needed to file the tax return for an individual, considering exclusion of exempt income NoTX(R)1.1.3 Collects and calculates the information needed to file the tax return for an individual, considering deductibility of expenses (for example, contributions to pension or

retirement funds, income protection policies, assets used for trade purposes, legal fees and study at home)No

TX(R)1.2 Prepares the income tax return NoTX(R)2.2 Prepares the Income Tax return NoTX(R)2.3 Calculates secondary tax on companies or equivalent shareholder tax NoTX(R)3.2 Records indirect taxes (VAT) for transactions in accordance with relevant legislation NoTX(R)3.3 Prepares the indirect tax (VAT) return NoTX(R)4.2 Calculates and correctly discloses deferred tax in the financial statements NoIR(R)1.1 Identifies and documents strategic, operational, financial and informational risks, based on an understanding of the environment in which the entity/audit

engagement operates, its strategies and management processesNo

IR(R)3.1 Evaluates internal control in the context of the criteria / recognized framework and suggests improvements where deficiencies are identified NoIR(R)3.2 Assesses whether existing internal controls are functioning properly or if additional controls are needed and communicates ideas to supervisor NoIR(R)1.2 Assesses the impact of findings on the work to be performed NoIR(R)4.1 Documents the components of the entity’s/audit engagement’s governance structure and its role (i.e. board of directors, audit committee, etc.) NoIR(R)4.2 Critically evaluates the corporate governance practices of an entity/audit engagement in relation to relevant legislation and practices, documenting

recommendations for improvementNo


SIGN OFF - TRAINEE AND REVIEWER This sign off indicates that both the trainee and the reviewer agree with the contents of this form.

Trainee: Belinda Vuyiswa Gumede Reviewer: Helomi Barlow

Trainee sign-off date to review: 29-Aug-2016 Date: 09-Sep-2016

Trainee final sign-off date: 09-Sep-2016