Neftaly INTERNAL AUDITOR CONTRACT TEMPLATE

(For Independent Internal Auditors Providing Services to Neftaly)

This Internal Auditor Agreement (“Agreement”) is entered into on [Date], by and between:

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1. PARTIES

1.1 Neftaly (The Company)

Company Name: Neftaly
Company Registration Number: 2018 / 537703 / 07
Address: 167 14th Road, Midrand, Gauteng, South Africa, 1685
Represented by: Mr. Neftaly Vutisani Malatjie, Neftaly Chief Executive Officer
(Hereinafter referred to as “Neftaly” or “The Company”).

1.2 Internal Auditor

Full Name: [Auditor to enter name]
ID/Passport Number: [Auditor to enter details]
Residential Address: [Auditor to enter address]
Contact Number: [Auditor to enter contact number]
Email Address: [Auditor to enter email address]
Professional Registration (if applicable): [e.g., SAICA, IIA SA, etc.]
(Hereinafter referred to as “Internal Auditor”).

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2. SCOPE OF SERVICES

The Internal Auditor agrees to provide the following services for Neftaly:

• Conduct internal audits on Neftaly’s financial, operational, compliance, and risk management processes.
• Evaluate internal controls, governance practices, and adherence to company policies.
• Identify risks, fraud, and non-compliance issues and recommend corrective actions.
• Prepare and submit audit reports with findings, recommendations, and improvement plans.
• Ensure compliance with South African financial laws, corporate governance codes, and internal policies.
• Advise on best practices and risk mitigation strategies.
• Work closely with Neftaly’s management, audit committee, and relevant stakeholders.

The Internal Auditor shall perform these duties independently, ethically, and professionally, in accordance with the International Standards for the Professional Practice of Internal Auditing (IIA Standards).

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3. CONTRACT DURATION AND TERMINATION

3.1 Duration

• This Agreement shall commence on [Start Date] and shall remain in effect until [End Date], unless extended or terminated earlier.

3.2 Termination Clause

This Agreement may be terminated:

• By mutual agreement of both parties.
• By either party with [Specify notice period, e.g., 30 days] written notice.
• By Neftaly with immediate effect if the Internal Auditor fails to perform duties, breaches ethical or professional standards, or compromises Neftaly’s integrity.

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4. COMPENSATION AND PAYMENT TERMS

• Audit Fee: The Internal Auditor shall be paid [Specify Amount and Currency] per audit project or as agreed.
• Payment Schedule: Payments will be made [Specify schedule, e.g., per audit report, monthly, or per engagement].
• Method of Payment: Payments shall be made via [Specify method, e.g., bank transfer] to the Auditor’s account.
• Invoicing: The Internal Auditor shall submit invoices detailing the work completed, and Neftaly shall process payments within [Specify number of days, e.g., 30 days].
• No Additional Benefits: The Auditor acknowledges that they are an independent contractor and not entitled to benefits such as leave, medical aid, pension, or UIF.

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5. INDEPENDENT CONTRACTOR STATUS

• The Internal Auditor is engaged as an independent contractor and not as an employee of Neftaly.
• The Internal Auditor shall be responsible for tax compliance, professional fees, and statutory obligations.
• Neftaly shall not be liable for any employment-related claims.

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6. CONFIDENTIALITY AND DATA PROTECTION

• The Internal Auditor agrees to maintain strict confidentiality regarding Neftaly’s financial records, audit findings, and proprietary information.
• All audit-related documents shall remain the property of Neftaly.
• Confidentiality obligations shall survive the termination of this Agreement.

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7. COMPLIANCE AND ETHICAL STANDARDS

• The Internal Auditor shall comply with:
  • The International Professional Practices Framework (IPPF) of the Institute of Internal Auditors (IIA).
  • South African laws and regulations, including financial and corporate governance requirements.
  • Neftaly’s internal policies and ethical guidelines.
• Any conflict of interest must be disclosed immediately.

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8. LIABILITY AND INDEMNIFICATION

• The Internal Auditor shall be responsible for errors, omissions, or misconduct in audit activities.
• The Internal Auditor agrees to indemnify Neftaly against any legal claims, losses, or damages resulting from their work.

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9. DISPUTE RESOLUTION

• Any disputes shall first be resolved amicably through negotiation.
• If unresolved, disputes shall be settled through mediation or arbitration under South African law.
• The jurisdiction for legal matters shall be South Africa.

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10. GENERAL PROVISIONS

• Entire Agreement: This contract constitutes the full agreement between Neftaly and the Internal Auditor.
• Amendments: Any changes must be in writing and signed by both parties.
• Severability: If any provision is deemed invalid, the remaining provisions remain enforceable.

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11. SIGNATURES

Signed on Behalf of Neftaly

Employer:
Mr. Neftaly Vutisani Malatjie
Neftaly Chief Executive Officer
Signature: _________________________
Date: _________________________

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Internal Auditor Acknowledgment and Acceptance

I, [Internal Auditor Name], have read, understood, and agreed to the terms of this Agreement.

Internal Auditor Signature: _________________________
Date: _________________________

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Witnesses

Witness 1:
Mr. Clifford Lesiba Legodi
Neftaly Chief Operations Officer
Signature: _________________________
Date: _________________________

Witness 2:
Miss Tsakani Stella Rikhotso
Neftaly Chief Learning and Monitoring Officer
Signature: _________________________
Date: _________________________

Witness 3:
Mr. Johannes Sapapi Mputla
Neftaly Kingdom Committee Deputy Chairperson
Signature: _________________________
Date: _________________________

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For Official Use Only (Neftaly HR Department)

Internal Auditor Reference Number: _________________________
Effective Date: _________________________
HR Representative Name: _________________________
HR Representative Signature: _________________________