Foreword
GrowthStone is an authentically African, boutique Audit and Advisory firm built on more than 100 years of combined professional experience. We are 100% black owned and managed, hold a B-BBEE Level 1 rating, and partner with Deloitte & Touche through the Enterprise Supplier Development programme — while remaining completely independent.
What sets us apart is our people. We deploy senior, experienced professionals directly onto every engagement and give each client a single point of contact into our business. This disruptive model maximises audit quality and efficiency, mitigates risk, and delivers more timely, value-added advice than the traditional hierarchical pyramid structure.
Our relationship with Deloitte gives us access to world-class skills, infrastructure, technical support and quality control, allowing us to operate as a full-service firm and to help transform the mid-tier of the profession — a segment critical to the growth of our economy.
We offer four integrated service lines: Integrated Assurance, including external audit and IFRS reporting; Group Risk Management, spanning internal audit, forensics and IT; Corporate Finance, covering due diligence, capital raising and valuations; and Legal Advisory. This breadth lets us meet the changing needs of listed organisations and mid-market companies alike.
Our clientele spans Sub-Saharan Africa and includes organisations such as Netcare, Murray & Roberts, Seriti and ArcelorMittal, extended internationally through our strategic partner AL Advisory in Lisbon. As we build the audit firm of the future — where analytics and artificial intelligence become the norm — we remain committed to quality, independence and lasting client value.
Theo Josias
Co-Founder
What Makes Us Different
Our Approach
Client Engagement
We understand that our clients have changing needs that require different expertise. As such, we follow an approach whereby you, as client, have a single point of contact into our business.
Engagement Staffing
GrowthStone follows an approach of utilising senior experienced staff on engagements. This ensures that we can control the quality standard of assignments, mitigate risk more effectively and ensure a good positive client engagement experience.
Staff is typically at a supervisor or manager's level. Though the charge out rates are slightly higher, we have greater efficiency on fixed price contracts. This is a unique disruptor especially in the internal audit arena as using Senior staff predominantly results in audit quality and efficiency being maximized.
The senior staff is thus able to provide more timely value added advice to clients, as opposed to the "vanilla" hierarchical pyramid gearing structure adopted traditionally. This fits in well with our mantra of creating an "audit firm of the future", where Artificial Intelligence and Analytics will become the norm.
Our client facing staff is augmented with an off-site back office. This is also the incubation hub for the training of our junior staff. The approach allows us to provide clients with a more cost effective engagement solution without compromising on quality standards.
Configured for Better Client Fit
With various industry experience and high level consultation. GrowthStone has the capability to work in an agile environment, supporting client needs.
Knowledge Transfer for Sustainable Value
A true consulting solution leaves your teams with the knowledge to continuously improve.
On-Site Leadership for Faster Execution
Getting the right people focused on your problem, empowering them to make decisions and holding them accountable for results is how things get done.
Risk Intuition
Proactive risk management to address your current risks and anticipate the inherent risks in your decisions for the future.
Empowering Clients
Our objective is to help you be a hero in your organization, solving your most critical business problems by sharing insights and expertise that keep you moving ahead.
What We Do Best
Our Services
Integrated Assurance
- External Audit
- Agreed Upon Procedures
- Integrated Reporting
- Accounting, Technical & Regulatory Advice
- IFRS Reporting and AFS preparation
Group Risk Management Advisory Services
- Managed outsourced services
- Internal Audit Unit
- Forensic Consulting
- Tax and Transaction Structuring
Corporate Finance
- Transaction Advisory Services including Due Diligence
- Capital Raising
- Private Equity Participation
- Financial Modelling
Legal Advisory
- Contract Drafting
- Research and Drafting of Legal Opinions
- Complex Arbitrations
- Mergers and Acquisitions
- Corporate Structure and Restructure
GrowthStone is a boutique Audit and Advisory Firm, with more than 100 years combined audit and advisory experience. GrowthStone delivers on the needs of a wide range of clients, including listed organisations and mid-market companies. Our clientele partnerships has extended throughout Sub-Saharan Africa (East, West and Southern Africa).
A Glimpse of Our Clientele
Partnerships
International
Partnerships
AL Advisory has been a long-standing strategic partner and a representative of our firm in Europe. With a permanent office in Lisbon, Portugal, AL Advisory utilizes its continental and transnational networks, as well as multicultural and multilingual capabilities, to provide important leverages to both our business origination and fulfilment functions. AL Advisory also plays a key role in our Corporate Finance division by providing a broader access to capital and widening the net of investor engagements through access to international capital markets.
www.al-advisory.eu
Current and Past
Audit and Advisory Engagements
Our Dedicated
Team
Theo Josias
Co-Founder, Director
CA(SA), Hons (FAPM) (UCT)
- Started career with one of the Big4 audit firm
- More than 25 years of professional experience
- Senior director and regional and Africa head for large audit firm
- Head-hunted by one of the Big4 as head of audit for a region
- Lead scale client assignments
Rakesh Bhika
Director
BCom (Hons); CA(SA)
- Started career with one of the Big4 audit firm
- More than 25 years of professional experience
- Head of Audit and head of consulting for previous employer
- Instrumental in the growth of the organisation to become No 5 in the country
- Lead scale client assignments
Katlego Moshatane
Audit Senior / AFS Preparation Support
BCom Accounting Sciences, AGA(SA) (Applied)
Katlego Moshatane is an experienced audit and financial reporting professional with over 4 years of progressive experience in external audit, IFRS-based financial reporting, and assurance engagements. She has strong experience in annual financial statement preparation, audit readiness support, reconciliations, year-end reporting, and audit coordination, with exposure to NPOs and governance-driven environments.
Her experience includes active involvement in financial statement drafting and review, working paper preparation, supporting schedules, disclosure tie-outs, and audit file support, with a strong focus on accuracy, compliance, and timely delivery. Katlego's experience is particularly relevant to KCDT in relation to IFRS-compliant Annual Financial Statement preparation, Investment-related disclosures, reconciliations, and support over audit fieldwork and query resolution.
Leeantha Naidoo
Senior Manager Assurance
CA (SA)
Leeantha is an experienced senior advisory manager having worked in both the government and public sector and financial services. Leeantha has been in the audit and advisory environment for more than 15 years. She has held many leadership roles over her career and brings a wealth of experience.
She has served various clients across the banking industry and is currently leading the engagement on one of the largest energy clients in SA. She also has extensive experience in auditing multinationals and local companies.
Tshidiso Mtimkulu
Audit Senior
BCom Accounting Sciences, AGA(SA)
Tshidiso Mtimkulu is an Audit Senior with Big 4 training (SNG Grant Thornton) and strong experience in external audit and assurance. He has solid exposure to audit planning, execution, reporting, audit file preparation, and audit coordination, with experience in PFMA-regulated and audit-intensive environments requiring strong audit discipline and timely delivery.
His experience includes active involvement in the execution and finalisation of audits, preparation of audit files in CaseWare, and support over financial statement balances, reconciliations, and audit documentation. Tshidiso's experience is relevant to KCDT, particularly in relation to the execution of IFRS-based audit procedures, control evaluation, testing of financial statement balances, and timely completion of fieldwork in a governance-sensitive environment.
Frank Modise
Audit Manager
BCom; RPA(SA); CA(SA)
Frank Modise is a Registered Professional Accountant (SA) and Audit Manager at GrowthStone Assurance Incorporated, with strong experience in external audit, technical accounting, and IFRS-based financial reporting across complex and regulated environments. He has extensive experience in financial statement audits, internal control evaluations, compliance-focused assurance, and risk-based audit execution, with exposure to both public and private sector entities.
Frank's experience includes the application of IFRS, GRAP, PFMA principles, Treasury Regulations, and Companies Act requirements, providing him with a strong foundation for governance-driven engagements. His work has involved the review of financial statement balances, disclosures, internal controls, and supporting evidence, as well as the identification and reporting of audit findings and control weaknesses.
Frank's experience is highly relevant to KCDT, particularly in relation to the day-to-day management of fieldwork, testing of investment-related balances, expenditure and disbursement controls, financial reporting processes, and internal control environments.
What Our Clients Have to Say
Testimonials
We really appreciated the insight obtained by the senior partners into our business and providing timely value-added advice to our organisation.Netcare
We appointed GrowthStone to assist in the Assurance and Review engagements as we liked their disruptive mode of utilising senior staff members on the engagement. This resulted in significant efficiencies and more value-added commentary coming through from the Managers and Directors who were hands on in the engagement.
GrowthStone was appointed to assist us in the preparation of financial statements. They serviced us with impeccable quality and provided value added advice. We would highly recommend them to clients from both an Advisory and Assurance perspective.
We appointed Growthstone as auditor to the NRC. We really appreciated the insight obtained by the senior partners into our business and providing timely value-added advice to our organisation.
We appointed Growthstone due to their strategic partnership with one of the big 4 as well as providing timely value added advice as part of their innovative model of servicing us with seasoned senior staff members.
We appointed GrowthStone as our external auditors as we liked their operating model of using senior staff to service clients as opposed to the traditional hierarchal approach adopted by traditional audit firms.
Client Reference Letters
