Governance, Risk & Compliance

Auditing and Financial

View our service lines to see how we can help your company grow.


Key Areas of our Governance Service Line

Risk Management Services

  • Facilitation of Risk Assessment workshops
  • Development of Risk Registers
  • Risk Management Training provider (SETA Certified)
  • Review of risk management tools
  • Risk Framework development and review
  • Maturity Assessments

Internal Audits

  • Outsourced
  • Co-sourced
  • In-house Secondments

Governance and Compliance Services

  • Independent evaluation of directors and board committees
  • Charter and policy reviews
  • Development and implementation of combined assurance frameworks
  • Induction and training of board members
  • Assurance of board member appointment processes.

Our Internal Audit Methodology

Our methodology was developed based on the Rakoma Integrated Internal Audit Approach (RIIAA).

Our RIIAA was developed based on the Institute of Internal Auditors’ International Standards for the Professional Practice of Internal Auditing, and ITAF: Information Technology Assurance framework (these guides on IT audit engagements), along with other best practices standards.

Riia Graph

Quality Assurance

The firm has established quality assurance policies, procedures and quality improvement plan (QAIP) in compliance with the International Standards on internal audit engagements. This includes Annual Internal Assessments and External Assessment every 5 years. We have been granted a general conformance in our latest (October 2019) quality review, done on behalf of the IIA. This is the highest conformance level an organization can achieve.

Risk Based Audits

  • Facilitating Annual Risk Assessments
  • Development of Internal Audit Plan
  • Execution of the Internal Audit Plan
  • Implementing Skills Transfer and Training
  • Ad-Hoc Tasks
  • Audit Committee Reporting
  • Annual Financial Statement Review
  • Annual Performance Review

Compliance Audits

  • Compliance Reporting and Audits
  • Policy Development & Review
  • Drafting of Terms of References of Board and Committee
  • Legislative capabilities include PFMA, MFMA, King IV, Companies Act, OHS, PoPI Act, Treasury Regulations etc.
  • Supply Chain Management (SCM) Reviews

Consulting Services

  • Risk Management Services:
  • Board Effectiveness
  • Probity Oversight
  • Maturity Assessments
  • Combined Assurance
  • Resource Secondments
  • Secretarial Services
  • King IV implementation & assessment
  • Organisational Training and Development
  • Robust technical department and
  • Strong database of specialists which we partner

Performance Information Audits (AOPO)

  • Audit of Performance Objectives (AoPO)
  • Compliance with reporting requirements
  • Quality of Performance Information (Usefulness)
  • Evaluating the Reliability of Data

Performance Audits

  • Value for Money
  • 3Es – Effectiveness, Efficiency and Economy

Governance, risk, and compliance remains a backbone for organisational success.

Governance, risk, and compliance remains a backbone for organisational success. The lack of sound governance, risk and compliance management remains the root cause of most corporate failures in both Private and public sectors which could negative impact on the possibility of attaining clean audits. The development of effective internal controls over governance, risk and compliance has been found in:

  • Proper planning by the entity’s internal audit which hinges on a comprehensive audit
  • Full implementation of combined assurance with proper oversight by the Audit Committees; and
  • Greater use of technological tools to ensure efficiency of documentation, testing and actual functioning of the internal

Rakoma & Associates' Governance Risk and Compliance division continues to support organizations in both the public and private sectors through internal control reviews and subsequent remediation efforts to improve their control environments.

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Our aim is to assist your organization in achieving its objectives.

Onias Badze CA (SA)

This has been achieved through offering the following services:

  • Internal Audit (Co-sourced or outsourced)
  • Governance services
  • Risk services
  • Compliance
  • Other agreed upon procedures or consulting

7+ Provinces

and growing - servicing nationwide

250+ Employees

A large compliment of Auditors & Trainees

50+ Clients

We are constantly adding happy clients to our experience

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