TAFADZWA GARUFU, ACMA, CGMA, MSc Finance, MBA
Contact Details:-|-
A reliable, ambitious, and highly motivated Chartered Accountant with more than 12 years of
experience across industries including External Audit, banking & insurance, and manufacturing,
with strong experience in leadership, management/stakeholder support, governance, stock
control, financial management, audit, taxation, financial analysis, and reporting. I am a focused
and proactive person who adopts a collaborative and positive approach to all tasks.
Work Experience
Finance Manager - Reporting, Treasury and Governance
Corruseal Group
●
●
●
●
●
●
●
●
●
●
●
●
●
●
●
●
- South Africa
October 2020 to Present
Managing 9 direct reports and coaching the Finance and supply chain HODs, including
management accountants with monthly board reporting to the EXCO.
Overseeing monthly accounts and stock takes monthly standard cost analysis to identify
and correct variances from expected levels.
- Management accounts preparation and presentation ensuring IFRS 15 Revenue
recognition.
- Monthly stock value calculations, monthly NRV calculations and adjustments
Annual budgets
- Managing annual budgets aimed at reducing expenditures and costs.
- Leading cost improvement and control operations comparison to budget and
explained variances.
- Acquiring informative data to develop KPI documents,
Board reports and annual financial statements reporting and analysis using TM1 IBM
Analytics
Preparing CAPEX applications for new capital expansions/equipment and projects
Supporting external auditors in annual auditing
- Compiling annual audit and tax pack
- Ensuring proactive contribution to continuous system testing, upgrades, and
improvement
Providing support in financial management and control and cost-saving schemes
Managing and coordinating monthly and annual financial reporting, planning-analysis,
budgeting and forecast processes.
Implementation and adherence to IFRS and new IFRS amendments.
Managing the debtors' and creditors’ functions ensuring, transaction accuracy and
completeness, timely collections, and payments.
Preparing financial forecasts (P&L, inventories, and Capital Expenditures)
Overseeing the reporting process for the division, ensuring efficient, timely and accurate
monthly, quarterly, interim, and annual financial reports
Monitoring actual performance against budgets, identifying, and investigating variances
Driving the SICs (short-term interval controls) in improving KPIs around stock control,
business operations, and supply chain.
GP % reviews and profitability recommendations on product mix
Payroll review, payment processing and engaging in workers' union matters
●
●
●
●
●
Handling monthly Business Unit EXCO review meetings, presenting financials and
detailed commentary and action plans for any problematic areas in manufacturing
operations.
Co-ordinating and managing the financial year-end audit, providing all required
schedules such as VAT, income tax, deferred tax, and provisional tax. Ensured Auditors'
requests are attended to timely.
Ensuring the financial compliance of the business meets the standards as outlined per
standardised Group operating procedures and work instructions.
Providing financial oversight of the division regarding key metric implementation and
measurement, cash flow, working capital management and capex management
Monitoring adherence and adequacy of internal control systems and governance,
including but not limited to preventing/detecting material errors, theft and fraud and
implementing systems improvement initiatives.
Finance Manager – Financial Reporting
Thanda (Pty) Ltd - South Africa
●
●
●
●
●
●
●
●
●
●
●
●
February to September 2020
Led the Finance team and reported to the Head of Operations and Executive Directors.
Managed an annual budget of R24 million, achieving the set goals and providing
effective KPIs on budget implementation and reserves accumulation.
Led process improvement initiatives and reporting requirements in compliance with
IFRS, tax, and other statutory reporting.
Helped the organisation recover almost R885,000 in tax savings which dated back to
2016.
Streamlined accounting procedures, reducing external agency fees resulting in
significant cost savings.
Preparation of month-end accounts and reporting to the Director and General Manager.
Monthly I/C statement reports and balancing IC P&L and Balance Sheet to all other IC
organisations.
Monthly submissions to Group and forecasting.
Reconciliation of VAT account and submission to SARS.
Annual budget preparation and submission to TM1 according to Group instructions and
guidance from the Finance Director, within the time frames given.
Manage annual financial audits as well as internal financial audits.
Ensure all statutory returns are completed and filed.
Management Accountant
JAAN Services (Pty) Ltd - United Kingdom
●
●
●
●
●
●
December 2018 to January 2020
Preparation and Review of monthly management accounts.
Preparation of accurate and timely produced account information for the management
team.
Working to tight deadlines around month end and compliance.
Managing the month-end close process.
Completion of month-end balance sheet reconciliations.
Enabled a high-performance management culture across the business to optimise
business profitability
●
●
●
Translated complex financial data and problem statements into meaningful insights to
help inform decision-making and future actions of non-financial stakeholders.
Understanding and interpreting monthly financial reports to support the performance
of the division to aid performance
Provided effective commercial procedures, or initiated change management, to ensure
key operational, commercial, and financial targets were delivered.
Audit Manager – Audit and Assurance
CBZ Holdings Financial Services and Insurance
●
●
●
●
●
●
●
May 2014 to August 2018
Completed TOPP Articles and gained Audit experience in the Financial Services industry
covering 60 branches and over 10 Divisions including Corporate Banking, Insurance
(both short & long-term), Asset management consulting, and Investment Banking.
Resolved IFRS 17 technical issues in consultation with respective Audit Partners and
successfully consulted in project and change management.
Evaluated systems and procedures for the adequacy of internal controls, and compliance
with policies and regulations, which safeguarded USD2.2 billion company assets.
Analysed transactions and validated manual entries for authenticity, authorization,
completeness, and appropriateness. This saved the company USD1.89 million in revenue
and commissions.
Working with the manager to ensure the planning, coordination and completion of NAVs
and Management Reporting
Review industry standards, insurance products, current rates, coverages, insurance
policies, and carriers, so you can assist clients, underwriters, sales representatives,
account executives, and SLAs
Led and developed audit trainees ensuring achievement of competencies and effective
leadership training.
Management Accountant
Stansfield Ratcliffe Automotive
●
●
●
●
July 2013 to April 2014
Designed commentary monthly management accounts and Annual Financial Statements
preparation for the Finance Committee, external audits, and year-end processes. This
helped management in taking recourse in profitability and liquidity management.
Safeguarded USD12 million assets by effective management of fixed asset registers,
assets insurance and review of additions, disposals etc.
Managed the Account Payable and Receivable function – invoices, payments, cost
centres, etc
Introduced Activity Based costing and documents digitisation project which enhanced
relative planning and processing time by 60%.
Education
SAICA APC Board exam | Awaiting results to qualify as a CA(SA)| Feb 2024
MBA | University of South Wales (UK) |2017 -2020
Masters in Finance (Passed with a distinction) |University of Aberdeen (UK)|2018 to 2019.
CIMA Qualified |ACMA CGMA | Chartered Institute of Management Accountants |2018
BCom (Hons) Accounting | Chinhoyi University of Technology |2009 to 2013
