SAICA to clean up school audits
Public schools' governing body members identified as unqualified auditors.
THE South African Institute of Chartered Accountants (SAICA) says it will do all it can to ensure that public schools’ financial audits are in line with the constitution.
This as the accountancy body has learned of schools being audited by unqualified firms.
SAICA’s public sector senior executive Julius Mojapelo said this has a direct impact on government budgets, adding that it needs to be rectified soon.
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“The consequence of this practice is the issuance of reports that are not in line with required standards of auditing, which result in the provincial Departments of Education placing reliance on invalid reports when making allocations to schools. This in turn brings the chartered accountancy and the auditing profession into disrepute by individuals who are not even members of the profession,”said Mojapelo.
Mojapelo said as attempts to protect the profession’s reputation, they have launched a school audits support platform where schools can check whether their auditors are qualified or not.
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“SAICA has launched a School Audits Support platform for schools that would like to confirm the status of their auditors or ask any questions regarding the audit process,” he said
For inquiries schools can send an email to schoolaudits@saica.co.za with the details of their enquiry.
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