Webinars On-Demand

Accountants' Discussion Forum: Financial Reporting for NPOs and PBOs

Overview   

Non-Profit Organisations (NPOs) and Public Benefit Organisations (PBOs) operate within a complex regulatory, financial reporting and taxation environment. To remain credible, these organisations must ensure statutory compliance, demonstrate transparency and meet the expectations of donors and other stakeholders. 

This session will explore the practical application of financial reporting frameworks, key disclosure requirements and compliance obligations specific to NPOs and PBOs. The discussion will equip practitioners with the insight and tools needed to navigate these challenges effectively. 

Join Caryn Maitland CA(SA) and Carmen Westermeyer CA(SA) as they provide practical guidance on NPOs and PBOs, equipping you to add value through compliance, accountability and advisory support.   

Learning objectives and competencies developed 

Through an in-depth analysis of the latest regulatory developments, real-world case studies and practical examples, this webinar will equip you with the following competencies:   

• Gain a clear understanding of the financial reporting frameworks applicable to NPOs and PBOs, including IFRS for SMEs and GRAP. 

• Learn how to prepare and present financial statements that reflect donor restrictions, designated funds and compliance with the Companies Act and Trust Property Control Act. 

• Understand the tax treatment of PBOs under the Income Tax Act, including Section 30 approval, exempt income and partial taxation rules. 

• Develop insight into common pitfalls, audit considerations and assurance challenges specific to the NPO/PBO sector. 

• Acquire practical tools for advising clients and boards on governance, compliance and ethical responsibilities in the non-profit environment. 

  Content to be discussed 

The following topics are under discussion for this month:  

• Legal and Regulatory Framework  

  • The Nonprofit Organisations Act 71 of 1997  

  • Companies Act 71 of 2008: Non-profit companies 

  • Trust Property Control Act 

  • SARS requirements for Public Benefit Organisations: Section 30 approval 

• Financial Reporting Frameworks  

  • IFRS for SMEs: applicability and adaptations 

  • GRAP standards: when applicable 

  • Accounting for restricted vs unrestricted funds 

  • Treatment of donations, grants, and sponsorships 

  • Recognition and disclosure of in-kind donations and volunteer services 

• Taxation of PBOs and NPOs  

  • Income Tax Act: Section 10 exemptions 

  • VAT implications for NPOs and PBOs 

  • Partial taxation and trading activities rules 

  • Reporting to SARS: compliance obligations 

• Governance and Accountability  

  • Fiduciary duties of trustees, directors, and committee members 

  • Beneficiary rights and reporting obligations 

  • Ethical considerations and conflicts of interest 

  • Assurance and audit challenges for NPOs and PBOs 

• Practical Application  

  • Preparing financial statements with donor-imposed restrictions 

  • Examples of disclosure notes 

  • Case studies of common errors and how to avoid them 

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IFRS for SMEs Short Course

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20 Hours

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