INDUSTRIAL ATTACHMENT REPORT

FACULTY: COMMERCE

PROGRAMME: BCOMM IN BANKING AND FINANCE

NAME: GOSEGO PHETO

STUDENT ID: 01212364512 (GABORONE CAMPUS)

ORGANISATION: MAZARS

DEPARTMENT: ACCOUNTING

ATTACHEMENT DATE: 16/01/24 – 30/06/24

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TABLE OF CONTENTS

EXECUTIVE SUMMARY……………………………………………………………..3-4

BACKGROUND OF THE ORGANIZATION

I. Organizational structure…………………………………………………………..5
II. Management
structure…………………………………………………………………………….6

NOTABLE CHANGES THAT THE ORGANIZATION HAS GONE THROUGH….7

PRE ATTACHMENT PERCEPTION………………………………………. …….……8

INDUSTRIAL ATTACHMENT EXPERIENCE

I. Application of theory, gaps between theory and practice……………………..9-10

IMPACT OF THE INDUSTRIAL ATTACHMEN……………………………………13

RECOMMENDATIONS………………………………………………………….……14

CONCLUSION…………………………………………………………………………15

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EXECUTIVE SUMMARY
This executive summary provides an overview of my industrial attachment experience at
Mazars Botswana, focusing on the background of the firm, my pre attachment perception
about Mazars, my experiences as an intern at the company, the impact and benefits the
attachment had on both the organization and myself, recommendations for improvement and
a conclusion.
Mazars Botswana is a leading accounting firm, a part of Mazars Group with many
professionals all over the world and it was established in 1982 with 8 offices across
Botswana. Mazars’ organizational structure consists of a Chief Executive Officer who
oversees productivity, the Chief Finance Officer managing financial activities, directors
setting company direction, and branch managers overseeing day-to-day operations and
employee performance. The management structure consists of top management, including
directors and the Chief Finance Officer, and middle management, consisting of senior audit
executive, senior tax officer, senior secretary, and regional leader. The senior audit executive
oversees firms audit practices, the senior secretary manages the annual returns, and the senior
tax officer prepares tax returns.
Mazars Botswana has undergone through some changes. It was acquired by Mazars in 2008
and expanded its services of offering tax, accounting, and advisory services. The firm now
offers financial advisory, risk assurance, consultation, secretarial, and legal services, and has
adopted new technologies like Quick Books for preparing financial information and social
media platforms for advertising. It opened additional offices at the different Botswana
locations.
Before commencing my industrial attachment, I held certain perceptions about the firm. I
believed that Mazars Botswana was a reputable accounting firm in Botswana, offering quality
services such as auditing, secretarial, and tax advisory. Despite thinking that the firm was
small it has seven other offices across the country, allowing it to be easily accessible to
clients and improve flexibility. To work at Mazars Botswana, candidates must have studied
courses such as accounting, finance, banking, and risk management. I perceived that students
with banking and finance backgrounds can be able to prepare VAT returns, financial
statements, and reconciliations, which are some of the services provided by the firm.
As part of my industrial attachment I applied theoretical knowledge I gained in various
modules to perform various tasks at Mazars Botswana such as data entry, document
preparation, tax returns, and submission at the Botswana Unified Revenue Services. To close
the gap between theory and practice, I suggests that interns should apply theoretical concepts
they learn at school into practice, adapt to the real working environment, and seek guidance
and feedback from supervisors on matters they do not understand. This will help them adapt
to the real working environment and improve their professional development.
My experience at Mazars Botswana has been instrumental in my professional development.
During my industrial attachment at Mazars Botswana, I developed analytical skills and
problem-solving abilities, which contributed to my professional growth. I prepared financial
statements for clients, identified market trends, errors, and predicted future performances. As
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part of the auditing team, I prepared Value Added Tax and Withholding Tax returns. I
somehow had some challenges in analysing financial statements, which required my critical
thinking to be able to identify errors and problems. By addressing these problems enabling
me to make better informed decisions increasing the client’s satisfaction.
My experience at Mazars Botswana was beneficial because it helped to support the firm’s
goals and providing good customer service. I built strong interpersonal relationships with
clients and colleagues increasing their satisfaction. Mazars Botswana has benefited from
industrial attachment by bringing out opportunities for capable students which can be hired in
the future reducing some costs. Baisago University also benefitted from these attachment
because the feedback from Mazars’ students can be used to improve the school’s curriculum
and syllabus making the education to be relevant and updated. The university can also
improve its reputation and attract more students to the school by offering quality work
experience through internships.
I recommended that Mazars Botswana should provide a suggestion box for effective
communication and a first aid kit to ensure safety and well- being of employees. As for the
university, it should consider moving the attachment period to the final year to increase the
chances of the students being hired during their attachment.

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BACKGROUND INFORMATION
Mazars Botswana is a member of Mazars group, an international tax, accounting, audit and
advisory services organization with over 40 000 professionals present in more than 90
countries. The firm was established in Botswana in 1982 by the late Mr Raju Parameswaran
in Botswana at Lobatse and has been one of the leading accounting firms with about 8 offices
operating across the country, 7 partners and more than 260 professionals.

Mazars organizational structure

CHIEF
EXECUTIVE
OFFICER

CHIEF
FINANCE DIRECTORS
OFFICER

BRANCH BRANCH BRANCH

ACCOUNTIN
COSULTING ADVISORY AUDIT TAX
G

EMPLOYEE EMPLOYEE EMPLOYE

Basing on the above hierarchy, the Chief Executive Officer is responsible for overseeing the
company’s productivity and health as well as the company direction while the Chief Finance
Officer is responsible for managing and implementing financial activities. The directors
ensures that the company meets its objectives and goals by setting company direction ,
enabling better decision making and proper allocation of resources. The branch manager are
the overseers of the day to day operations of their branches making sure that the employees
are able to carry out their tasks. For example, they ensure that employees are able to provide
the audit, tax and accounting services to the clients in a satisfactory manner through
supervision and monitoring their performance. On the other hand the employees are
responsible for completing assigned task and providing good customer service to the clients.

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MANAGEMENT STRUCTURE
The management structure refers to the ranking of the company’s authority and how they
make decisions

DIRECTOR

REGIONAL
CHIEF FINANCE SENIOR AUDIT SENIOR TAX SENIOR LEADER
OFFICER EXECUTIVE OFFICER SECRETARY

It consists of the top management level which are the directors and the Chief Finance Officer
whereas the middle management consists of the senior audit executive, senior tax officer,
senior secretary and regional leader. The director is responsible for approving and
implementing plans and strategies form his employees by providing guidance and oversight
to the CEO as well as other management tea. Same as from the organisation structure the
Chief Finance Officer is responsible for the managing and implementation of the financial
activities.
The senior audit executive oversees the audit practices in the firm through managing
auditor’s team by ensuring proper conduction of audit engagement and development of new
audit technologies. The senior secretary deals with submitting annual returns and filing
different company profiles. The senior tax officer prepares tax returns, tax planning and
provide advisory services to the clients. Lastly the regional leader supervises the branch
managers, team leaders and staff members ensuring they effectively work together to meet
the clients expectations in the region such as Gaborone and Francistown.

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NOTABLE CHANGES OF MAZARS BOTSWANA
Mazars Botswana has undergone some visible changes since its establishment and it was
originally named Acme Services (Pty) Limited. The firm has gone through some growth and
expansion, mergers and acquisition, addition of some new services and implementation of
new technology.
a. MERGERS AND ACQUISITION
The firm was known as Acme Services (Pty) LTD and it later changed its name to Moores
Rowland. In 2008 the firm was acquired by Mazars a leading international consulting and
accounting firm which helped strengthen its capabilities and ability to provide tax, accounting
and advisory services to its clients in Botswana.
b. EXPANSION AND GROWTH
The firm had only one office which was at Lobatse however in 1999 another office was
opened at Gaborone. As Mazars is well known for providing professional accounting services
so Batswana from all parts of the country were in need of these services which made the
client base to increase. Following the increase in client base other branches were opened at
Selebi Phikwe, Ghanzi, Palapye, Francistown, Maun and Kasane so as to expand the firm’s
ability to provide its services to its clients throughout the country.
c. ADDITION OF NEW SERVICES
Mazars Botswana was more focused on providing tax and audit services to clients across
various industries. However the firm expanded into providing other services such as financial
advisory, risk assurance, consultation, secretarial and legal services. This helped the firm to
generate more revenue by diversifying its sources of revenue and it has enhanced the Mazars
brand recognition as well is now well known for offering professional services.
d. NEW TECHNOLOGY
The firm has adopted some new technologies to improve its services and increase its
competitiveness in the market. For example the firm uses quick books applicator for data
entry which helps the firm to effectively manage the financial data for its clients such as
account receivables or tax preparation. On the other the use of quick books provide clients
with an easily accessible financial data for higher transparency in the process of financial
management. Mazars Botswana now uses the social platforms such as Facebook, Twitter,
Instagram or the internet for advertising its services and making it easier for the clients to get
information about the firm as well as services it provides. For example, if one wants to know
about the services offered by Mazars they could just search on goggle and they will find
them, (tax advisory, consultation, secretarial and others).
In conclusion these changes that the firm has undergone through has enhanced its competitive
advantage and ability to offer various services to its clients making it a leading provider of
professional accounting services in Botswana.

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PRE-ATTACHMENT PERCEPTION
a. The Market
Before engaging with Mazars I alleged the accounting market of Botswana to be liberated by
foreign players which definitely seemed to be true because most of the accounting firms are
owned by foreigners. Mazars stand as the most reputable accounting firm in Botswana and it
is the best in providing better quality services being auditing, secretarial services and tax
advisory. As the firm is a member of an international company, it offers its services globally
which makes it stand more competitive and a firm with expertise making it to be well
equipped to offer tax compliance and advisory to its clients. I believe Mazars Botswana has a
more competitive advantage compared to other accounting firms in Botswana having it stand
well in the accounting market.
b. The Company
At first I thought Mazars is small company with only few employees but I was wrong not
knowing that Mazars is one of the biggest accounting firm in Botswana. I have always
perceived that it only have one office which is at Gaborone while actually it has 7 other
offices across the country at Ghanzi, Lobatse, Francistown, Maun, Palapye, Selebi- Phikwe
and Kasane. The firm having some of its offices across the country shows that it is really
willing to spread out its professional services to clients across the country. This has allowed
the firm to be easily accessible by the clients without having to travel longer distances,
improved flexibility by accommodating the client’s needs at different regions and building
stronger relationships with local business and brands
c. The Academic Courses
For a person to work at Mazars Botswana they must done courses such as accounting,
finance, banking and risk management because people who did this courses are familiar with
the accounting, booking, taxation and risk management concepts which are useful in the
company. Being a banking and finance student I believed that I would be able to work at
Mazars Botswana, after learning taxation , risk management and accounting I believed that I
would be able to prepare the vat returns, financial statements and reconciliations which are
some the services provided by the firm.

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INDUSTRIAL ATTRACHMENT EXPERIENCE
Application of theory, gaps between theory and practice
I. Application of theory
In order to perform well all the activities performed at Mazars Botswana I had to connect the
theoretical knowledge I have gained throughout my course as a banking and finance student
at Ba Isago University and put it in to practise. Some of the modules I learnt are accounting
concepts, business communication, introduction to taxation, computing and information skills
and financial statements analysis. As a student intern at Mazars I performed numerous
activities such as data entry, preparation of documents, tax returns and submitting them at the
Botswana Unified Revenue Service.
Data entry
From computing and information skills module I learnt that a computer is used for data
storage and processing, input devices such as a keyboard used for entering data into the
computer and mouse which helps to click and select objects in the computer. With the
knowledge I had I used a keyboard to record the data of various companies which later
would be analysed and used to prepare financial statements into the quick books software in
the computer. Also using the keyboard I entered the invoices and the bank statements into the
computer, which was later used to prepare the financial statements such as a balance sheet,
income statements and a trial balance. Whenever I wanted to click or select or chose folders
from the computer I used a mouse and all this has helped me to do my tasks effectively
throughout my attachment.
Preparation of documents
I used the formulas I learnt from introduction to taxation to calculate the Value Added Tax
and Withholding Tax that must be paid by all companies that are clients to Mazars Botswana.
As an intern at Mazars I would calculate the tax returns, prepare and submit them at
Botswana Unified Revenue Services. I experienced that every month each company’s tax
returns must be submitted in order to assess if they are tax compliant, to determine their tax
liabilities and for the companies to claim their refunds from the government. With the usage
of the format such as a balance sheet, trial balance and an income statements that I learnt
from the accounting concepts module I prepared the financial statements for the client
companies to measure their worth and financial performance.
II. Gaps between theory and practice
One of the gaps between theory and practise is that there are fewer opportunities for interns to
make decisions even though the theories might suggest the importance of their engagement in
the decision making process and strategic planning. Compared to the employees the interns
cannot make decisions for the clients because of their position as temporary. Interns are
mostly given tasks that need limited judgements, for example, as an intern at Mazars I was
given tasks such as data entry instead of tasks that contributed to the company’s decision

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making such as conducting research on competitors which limited my growth and potential
hindering my professional development.
Another gap between theory and practice is that tasks assigned to interns during industrial
attachment may vary from what they have learnt from their academic courses. For example,
from the accounting module we were provided with a structured speculative company and
assigned to analyse it using specific accounting principles and frameworks. During my
industrial attachment I was assigned with the real company financial data that was more
complex and less structured requiring me to apply the concepts I learnt in a more flexible way
such that at the end of the all the tasks are completed which can be more challenging.
To close the gap between theory and practise interns must try by all means to apply the
theoretical concepts into practical cases even if the circumstances are not the same so that
they can be able to adapt well to the real working environment. They must also seek guidance
and feedback from their supervisors on how to handle the assigned tasks that are different
from their academic experience.

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SKILLS DEVELOPMENT INCLUDING ANALYTICAL SKILLS AND PROBLEM
SOLVING
During my industrial attachment at Mazars Botswana I had the opportunity to gain my
analytical skills and problem solving abilities which contributed to my professional growth.
Engaging in with the tasks that I was assigned allowed me to cultivate myself and have an
idea about the whole accounting industry. I developed analytical skills on data analysis,
critical thinking, teamwork and the ability to pay attention to detail.
ANALYTICAL APPLICATION; One of the activities that I worked on was analysing
financial statements such as balance sheets, cash flows and income statements for various
clients around Botswana. This has helped me to develop data analysis techniques such as the
ability to identify the market trends of companies, identify errors in the client’s financial
statements and predicting future performances. As a result of this experience I gained
knowledge on how to communicate with the clients about the findings and data that I found
from their financial statements for example, using tables. This provided clients with clear
insights about their financial performance which improved their decision making.
PROBLEM SOLVING SCENARIOS: During my internship as part of the auditing team, I
was assigned to analyse the client’s financial data and prepare the Value Added Tax and the
Withholding Tax (WHT). I encountered that some information were missing so in such case I
had to look for the other sources of information. I had to communicate with the clients to
provide the auditing team with all the missing information so the team could be able to
prepare the WHT and VAT returns well on time. After I received the missing information I
prepare the returns and submitted to Botswana Unified Revenue Services for tax compliance
and obligation.
As an intern at Mazars I had the opportunity to develop my problem solving and critical
thinking skills through various experiences. I encountered some challenges when analysing
my financial statements which required me to apply my critical thinking skills. This helped
me to identify errors and problems with the client’s financial statements while analysing
financial statements. After I identified problems such as incorrect posting or omission of
accounts in the ledger accounts I was able to provide a solution to that problem by recording
the accounts to where they were supposed to be recorded.
By developing analytical skills and my problem solving abilities to address problems I
encountered while doing data analysis and all other assigned tasks has helped in making
better informed decisions and provided advice as well as support to clients which has
increased their satisfaction.

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PARTICIPATION AND THE VALUE OF MY INPUT TO SPECIFIC DEPARTMENT
AND THE ORGANISATION
I played a crucial role in the accounting department such as for the audit and tax teams at
Mazars Botswana. I assisted the tax team by preparing the Value Added Tax and
Withholding tax returns for the clients and after they were checked by my supervisor I
submitted them at the Botswana Unified Revenue services for auditing. I added value to the
team because I was able to assist the team with tax related tasks such as sorting out and
making sure that the client’s invoices are claimable while preparing the Value Added Tax so
that the clients could be able to claim the input tax at the Botswana Unified Revenue
Services( BURS). I also assisted the audit team to reconcile the financial statements enabling
them to effectively complete their work. For instance, I helped to reconcile the client’s
debtors and supplier’s sage accounts with the auditor’s sage accounts. I did so by identifying
the accounts that were omitted from either the client’s sage accounts or the auditor’s sage
accounts which improved the accuracy of the financial data provided by client.
Working as an intern at Mazars Botswana was a very beneficial experience to the company as
I added support to the firm’s goals and providing exceptional customer service. By
completing the tasks that I was assigned such as preparing engagement documents, financial
statements and tax returns has helped to achieve the firm’s goal of providing better quality
services to its clients. It also added value to my professional life as I have acquired some
knowledge and experience in the accounting industry.
OTHER; CLIENT RELATION AND INTERPERSONAL RELATIONSHIP
As an intern at Mazars Botswana I interacted well with the clients and my colleagues
Client relation; I interacted with my clients during data collection and clients meetings.
During the analysing of financial statements I would collect the information that was needed
or missing from the clients to assist the audit team in completing their work. I was able to
communicate with the clients effectively in an appropriate, clear and understandable
language. I interacted professionally with the clients during meetings without using any
offensive language with enhanced the client’s satisfaction and their good perspective about
Mazars’ employees.
Interpersonal relationship; During my attachment I interacted well with my colleagues, I
worked with my supervisor to collect and analyse the financial statements for various clients.
I would enter the financial data into the quick books software and my supervisor would later
use that data to prepare the financial statements which enhanced team work. My supervisor
mentored me throughout my attachment. For instance, she would teach and guide me with the
aspects that I did not understand or was not familiar with which helped me to gain knowledge
and some skills.

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IMPACTS AND BENEFITS OF INDUSTRIAL ATTACHMENT
TO THE HOST
Industrial attachment has positively benefited Mazars Botswana in such a way that it has
created opportunities to meet the potential students, enables innovation within the company
and help reduce company costs. Firstly, Mazars offering attachment enables the company to
get connected to students that are promising and can become potential employees in the
future. The company’s engagement with these students can help the company identify
students with higher potential and skills which aligns with the ones that are required by the
company. In such case the company can invest in their growth which will benefit the
company’s workforce. If these students are hired in the future it will reduce recruitment costs
because they will be capable employees which were trained and equipped well so there will
be no need to train new employees which is cost effective. Secondly, offering quality
internship to students can enhance Mazars reputation as a hiring and professional services
firm making it to attract more clients and professional employees.
TO MYSELF
Working as an intern at Mazars has contributed to my professional growth. By interacting
with the clients and colleagues it has enhanced my communication skills which I would need
to work effectively in the future. The attachment has also created an opportunity for me to put
theory into practice allowing me to apply what I have learned at Baisago College into the real
world helping me to have more understanding of the accounting industry. For example,
during my attachment I analysed the financial statements and prepared the tax returns
whereby I applied knowledge of accounting principles, financial analysis and tax laws that I
learnt from the accounting concepts, introduction to taxation, and financial statements
analysis modules. Additionally, I have gained some experience on data analysis and
preparing tax returns which is advantageous to me because they are highly demand in the
banking and finance industry. My experience with data analysis enhanced my analytical skills
which added to my resume enhancement because it can show my potential employers that I
have experience and skills that are relevant and needed for particular job opportunities in the
future.
TO BAISAGO UNIVERSITY
If Mazars are impressed by the students from Baisago University working as interns at their
company there are higher chances that they would recruit the graduates in the future. This is
because the company would be knowing that this students are well trained and experienced.
The feedback about the students that Mazars gives to the university after the completion of
the industrial attachment can help enhance the curriculum and syllabus ensuring that students
receives relevant and updated education. By Baisago University providing quality work
experience through internships it can help improve its reputation hence attracting more
students to the school. For example, if I share my experiences, knowledge and challenges I
encountered during my internship to the first year students doing Banking and finance course

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it can enable them to make better decisions about their future careers because students would
be having a better understanding about the banking industry.

RECOMMENDATIONS
TO THE COMPANY:
Suggestion box: A suggestion box is a much needed tool in the company as it is good way of
collecting feedback and ideas from the clients and students. It allows them to express their
views about the services and improvements that they think might be beneficial to company. It
can help improve communication, identify issues and improve innovation. The suggestion
box can be placed at the reception where it is visible for everyone.
First Aid Kit: A first aid kit is needed to ensure the safety and wellbeing of employees. In
case of emergencies a first aid kit helps provide immediate help to an injury while reducing
its severity. By Mazars providing a first aid kit in the company it shows that they really care
and are committed to its employee’s safety and wellbeing which improves employee morale
and work satisfaction.
Job orientation; Mazars should provide a comprehensive orientation to students at the
beginning of their attachment. The orientation would be to teach them about the company’s
history, values, policies and specific expectations for the attachment because it can help
students to be knowledgeable with what it is expected from them.
Lastly the company should consider giving the students certificates of appreciation for
working in their company at the end of the attachment. This is to show the students that they
appreciated their effort and value they brought to the company throughout the attachment
period.
TO THE UNIVERSITY:
Industrial attachment period: The university should consider changing the attachment
period from the third year to the final year because at the final year there are higher chances
that the students could be hired if the company that offered them the attachment are well
impressed with their performance. The attachment period during the third year is not really
convenient because after the attachment students go back to school and there are higher
chances that they might forget what they learnt during the attachment due to lack of practice.
Reflect on the learning objectives: The University should take the feedback from students
about their experiences during their attachment and if what they were taught from the
syllabus is applicable to the tasks they did. If not, the school should revise the syllabus and
provide the students with theoretical knowledge that is needed in the working industry.
Enhancing workplace etiquette: Students should be encouraged to work on enhancing their
workplace etiquette and professionalism such as being punctual, wearing proper attire, and
interpersonal interactions with clients and their colleagues.

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CONCLUSION
This attachment has provided me with a comprehensive understanding of the accounting
industry and it was a very valuable as well as an enriching experience. During my attachment
I had the opportunity to apply my academic knowledge to use in performing the tasks that I
was assigned such as data entry and preparing financial statements. I had built the strong
relationships with the clients and my colleagues acquiring important skills in communication,
data analysis and team work. I am grateful for the chance to work with such committed and
dedicated team and I believe that the experiences and skills I gained during my attachment
will be helpful in my career.

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