Peter Gumtso

As an Internal Auditor, I play a critical role in safeguarding the organization's financial integrity, operational efficiency, and compliance with regulatory standards. My primary focus is on evaluating internal controls, identifying risks, and recommending improvements to mitigate potential issues across various departments, with a particular emphasis on retail operations. This involves conducting thorough audits, analyzing data, and collaborating with cross-functional teams to ensure accuracy, transparency, and accountability in all business processes.
Key Responsibilities:
Risk Assessment and Audit Planning: Identify and evaluate potential risks in financial reporting, inventory management, and operational procedures. Develop comprehensive audit plans tailored to high-risk areas, such as retail store inventory and supply chain activities.
Internal Controls Evaluation: Review and test internal controls to ensure they are effective in preventing fraud, errors, and inefficiencies. This includes assessing compliance with company policies, accounting standards (e.g., IFRS or GAAP), and relevant laws.
Financial and Operational Audits: Perform detailed audits of financial statements, transaction records, and operational workflows. Analyze discrepancies in stock levels, sales data, and expense reports to detect anomalies.
Inventory Management Oversight: Monitor stock counts, reconciliation processes, and loss prevention strategies in retail environments. Collaborate with store managers and finance teams during year-end stock counts to verify accuracy and address variances.
Reporting and Recommendations: Prepare detailed audit reports highlighting findings, risks, and actionable recommendations. Present insights to senior management to drive process improvements and cost savings.
Fraud Detection and Investigation: Investigate suspicious activities, such as potential theft or mismanagement, using data analytics and forensic auditing techniques.
Compliance and Training: Ensure adherence to internal policies and external regulations. Provide training to staff on best practices for risk management and ethical conduct.
Continuous Improvement: Stay updated on industry trends, auditing standards, and emerging risks to enhance audit methodologies and contribute to organizational resilience.
Key Achievements:
Significant Cost Savings in Retail Operations: Identified and mitigated potential losses amounting to approximately 50 million through proactive auditing and control enhancements in a single retail store. This was validated during the year-end stock count, where discrepancies were resolved, preventing financial leakage and improving inventory accuracy by implementing stricter reconciliation protocols and real-time monitoring systems. This initiative not only protected company assets but also boosted overall operational efficiency, setting a benchmark for other stores.

Managed day-to-day financial operations including income and expenditure tracking.
Oversaw project and imprest funds and maintained internal controls on payments.
Collected and managed school fees; implemented debt recovery strategies.
Maintained up-to-date records on inventory, tax, and statutory remittances.

Conduct financial audits to verify the accuracy of sales, expenses, and inventory records.
Reconcile accounts, detect reporting discrepancies, and ensure proper documentation of cash flows and payments.
Carry out physical inventory audits, identify shrinkage or theft, and recommend corrective measures.
Ensure compliance with regulatory standards, including tax laws, labor rules, and internal policies.
Review operational procedures such as cash handling, customer returns, and vendor transactions to identify inefficiencies.
Evaluate and strengthen internal controls to prevent fraud and mismanagement.
Prepare detailed audit reports with findings, insights, and actionable recommendations.
Investigate fraudulent activity, including employee theft and shoplifting, in collaboration with the loss prevention team.
Assess the reliability and security of POS systems, inventory software, and digital records to ensure data integrity.
Follow up on previous audits to confirm implementation of corrective actions and compliance improvements.

Processed and tracked accounts receivable and payable; reconciled records.
Created and reviewed invoices, tracked costs, and maintained financial reports.
Provided cost analysis and ensured compliance with standard accounting practices.
Managed the company’s digital accounting system remotely.

Maintained daily financial records and transaction logs.
Processed payroll and reconciled accounts monthly.
Ensured timely payments to vendors and accurate student billing.
Produced financial reports for school management and audit readiness.