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Non-Profit Organisations Act, 1997 (Act No. 71 of 1997)

Chapter 3 Registration of Non-Profit Organisations

17. Accounting Records and Reports


Referenced by:


1) Every registered non-profit organisation must, to the standards of generally accepted accounting practice—
a) keep accounting records of its income, expenditure, assets and liabilities; and
b) within six months after the end of its financial year, thaw up financial statements, which must include at least—
i) a statement of income and expenditure for that financial year; and
ii) a balance sheet showing its assets, liabilities and financial position as at the end of that financial year.


2) Within two months after thawing up its financial statements, every registered non-profit organisation must arrange for a written report to be compiled by an accounting officer and submitted to the organisation stating whether or not—
a) the financial statements of the organisation are consistent with its accounting records;
b) the accounting policies of the organisation are appropriate and have been appropriately applied in the preparation of the financial statements; and
c) the organisation has complied with the provisions of this Act and of its constitution which relate to financial matters.


3) Every registered non-profit organisation must preserve each of its books of account, supporting vouchers, records of subscriptions or levies paid by its members, income and expenditure statements, balance sheets and accounting officer’s reports, in an original or reproduced form, for the prescribed period.