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Thank you to the South African Institute of Business Accountants (SAIBA) and the Association of Tax Professionals (SAIT) for committing R10 million rand in free services to ensure that non-proift organisations have thier finances audited and are filed in order to remain legally compliant. Under the NPO Act, administered by the Department of Social Development, registered entities must file annual reports which are publicly available. Shockingly, over half of the 140 000+ registered NPOs in South Africa are, technically, non-compliant. They are in danger of losing their NPO status. Critically, most corporate and trust donors will not fund NPOs that become deregisterd. The South Afircan Lottery, too, will not fund non-compliant enttities.
http://m.news24.com/fin24/Economy/Tax-accounting-bodies-step-in-after-Zuma-NPO-expose-20150720

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