Ignite Your Power: Ikuthatha la Ikubeke le with NPO & SME Assist for Positive Change in South Africa
In South Africa, there are over 250,000 registered Non-Profit Organisations (NPOs) dedicated to making a significant impact on our communities. These vital entities require specialised accounting expertise to ensure compliance, strategically optimize resources for sustainable growth, and navigate the complexities of the IFRS for NPOs and PBO status with SARS.
NPO Accountant License - Unlocking Expertise
The Chartered Institute for Business Accountants (CIBA) offers a unique opportunity for volunteer accountants to gain the necessary expertise and become licensed NPO Accountants. This license empowers volunteer accountants to expand their client portfolio, build valuable networks, and become agents of change in the NPO sector.
Curriculum and Learning Objectives
The NPO Accountant License program provides a comprehensive curriculum that covers various aspects specific to NPOs. Volunteer accountants will develop proficiency in financial management, compliance, NPO Act and reporting, IFRS for NPOs, Section 18 of Income Tax Act, PBO status, donor funding, and more. These skills enable accountants to effectively support NPOs, ensuring financial transparency, accountability, and sustainable operations.
NPO Assist - Connecting Volunteer Accountants with NPOs
Through partnerships with the Department of Social Development (DSD) and ANNET, CIBA facilitates access to the vast network of 250,000 NPOs. Upon completing the NPO Accountant License, volunteer accountants gain the opportunity to be connected with thousands of NPOs, allowing them to contribute their expertise to organisations in need.
Volunteer Accountant Role and Responsibilities
As part of NPO Assist, volunteer accountants play a crucial role in supporting NPOs. They are available to assist NPOs in becoming compliant with the NPO Act by providing guidance based on the CIBA template working papers and the Guide for Accounting Officers. Prior to NPO capacity-building events organized by the DSD, accountants are informed of their role and the importance of bringing necessary accounting information to the event.
Engagements and Scope
CIBA has developed minimum template working papers to guide the engagement between accountants and NPOs. Engagements should not exceed four hours, and volunteer services up to a total value of R10,000 may be allocated to NPO clients. The scope of the engagement depends on the size and complexity of the NPO. For basic/start-up NPOs with limited accounting transactions and resources, a brief and straightforward engagement is foreseen. However, if the NPO is of medium size, complex, or subject to donor restrictions, a separate and more in-depth engagement is recommended, requiring a different set of accounting standards and confirmations.
Reporting and Compliance
Based on the information provided by the NPO, volunteer accountants assist in preparing financial statements, narrative reports, and issue compilation reports in accordance with the NPO Act and relevant accounting standards. They compile a written report to the DSD Directorate, stating the consistency of financial statements with accounting records, appropriateness of accounting policies, and compliance with the financial provisions of the NPO Act and the NPO’s constitution.
NPO Assist provides volunteer accountants with a unique opportunity to make a meaningful difference in the NPO sector. By completing the NPO Accountant License and participating in NPO capacity-building events, volunteer accountants can connect with NPOs, offer their expertise, and contribute to building resilient communities. Join the CIBA community of passionate accountants today and be part of the transformative impact volunteer accountants can have on NPOs. Together, let’s create a better world through the power of accounting expertise.
