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Non Profit Organisations Act Authority

The NPO Act 1997 has recognised CIBA as a professional body whose members may issue reports for non-profit organisations. However, NPOs are part of the broader group of entities known as Non-profit entities (NPEs), NPE can take many forms, including:

Non-profit organisations in terms of the Non Profit Organisations Act (No. 71 of 1997).
A voluntary association of persons formed in terms of common law.
A non-profit trusts established in terms of the Trust Property Control Act, of 1988.
A non-profit company formed in terms of the Companies Act, No. 71 of 2008.

NPO

The Non-profit Organisations Act (the NPO Act) provides for a voluntary registration facility for non-profit organisations. The NPO Act requires that all registered NPOs appoint an accounting officer to hold office. Chapter 1 of the NPO Act defines an accounting officer in relation to a non-profit organisation, as a person contemplated in section 60 of the Close Corporations Act, 1984.

Voluntary association

This is an association of person that has been formed in the Republic and that has not incorporated in terms of an Act. The drafter of Constitution can provide for any of the existing options related to accounting, financial reporting, and external reporting requirements, for example: IFRS or IFRS for SME or Modified Cash, and audit, or independent review, or agreed-upon procedures or accounting officer engagements.

Non-profit trust

A non-profit trust can only be established in terms of the Trust Property Control Act (the Trust Act). The drafter of Trust Deed can provide for any of the existing options related to accounting, financial reporting, and external reporting requirements, for example: IFRS or IFRS for SME or Modified Cash, and audit, or independent review, or agreed-upon procedures or accounting officer engagements.

Non-profit Company

Accounting, financial reporting, and external reporting requirements are determined by the Companies Act, 2008.

NPO

Chapter 6 of the Companies Act, 2008 requires that CIBA establish and maintain proper mechanisms to ensure that its members achieve professional competence with regard to Business Rescue. This is achieved by providing recognition for prior experience and knowledge.

competent and able to provide high quality services,
accountable for the work they perform,
committed to relevant CPD, and
aware of their role and responsibility to clients, and society.
Our License for Business Rescue aims to achieve this.

CIBA are obligated by the Companies Act, 2008 to ensure that CIBA members that provide business rescue services to clients, are:

Non Profit Entity Engagements

Stand-alone license

This license is accredited by CIBA and authorises the member to perform a specialist service within the standards of engagements as set by CIBA.

The license is not the equivalent of a designation nor a qualification.

Purpose of the license

The license aims to provide you with a better understanding of the clarified International Standards on Auditing (ISA) and the audit process. A firm grasp of the key principles of the clarified ISAs will give you the confidence to act decisively and respond effectively to clients’ and other stakeholder’s needs.

Develop your NPE niche

Specialise in the accounting and financial reporting of NPOs, NPC, Schools and NGOs.

The objective of this license is to equip BAP(SA) designated CIBA members to:

Develop their skills in charity and non-profit organisation accounting, financial management, and financial reporting.
Develop a specialist knowledge of the Non-Profit Organisations Act, 71 of 1997 and Income Tax Act provisions regarding Public Benefit Organisations.
Recognise the financial statement presentation and disclosure requirements that apply to not-for-profit entities.
Identify Department of Social Development and SARS filing requirements of an exempt organisation, recognise the core components of the annual information return, and identify when an NPO may be subject to unrelated business income tax.
Recognise best practices in NPO board governance, risk assessment and internal controls.
Identify steps involved in planning a successful audit, review or accounting officer engagement and identify key considerations and client communications.

The following topics are covered in the license

Study unit 1:

Introduction to Non-profit Entities (NPE)

Study unit 2:

Accounting and financial reporting

Study unit 3:

Tax compliance

Study unit 4:

Governance and assurance

Study unit 5:

Governance and assurance

Study unit 6:

Audit evidence

Study unit 7:

Accounting estimate and related parties

Study unit 8:

Going concern

Study unit 9:

Audit completion

Study unit 10:

Reporting on audited financial statements and summary financial statements

Why a license for compiling audit files

Set yourself apart with this license that covers the essentials of not-for-profit financial management, including accounting and financial reporting, tax compliance, governance and assurance.

The licence programme was developed by industry experts to test your competence in a particular specialist area. The underlying exam is written online and candidates can write at any time. Preparation is through selfstudy and experience. The exam consists of multiple choice questions aligned to a detailed curriculum. The entry requirements for the license is a BA(SA) or an equivalent designation at NQF level 6, together with a minimum of 3 years of relevant experience.

If you want to prepare quality financial statements you have to be licensed

The Audit File Compiler license (AFC) is a professional license that is awarded to:

members of CIBA, that have
obtained any of our designations, and who
want to assist clients to prepare their audit files,
have a minimum of 2 years of relevant post-designation experience, and
have completed the Financial Statement Compiler license (IFRS)

As specialist in the subject area you will stand out from the crowd and hence be able to attract more clients or obtain more recognition at work. You will be able to accept referrals from other non-specialist accountants and in this way diversify your client composition to include business clients and other accountants.

Specialist work generally can be offered at a higher fee than normal accounting work providing a much higher profit margin per hour of service delivered.

Branded, secure, and verifiable digital certificates

Obtain branded, secure, and verifiable digital certificates and badges.
Your certificates can't be duplicated or faked.
With a single click, you and potential clients/employers can verify the achievement is legitimate.
Social media ready.
We automatically optimize your certificates and badges to display perfectly on any screen size, so they always look good.

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