Educational Institutions must strive to ensure and achieve the following:
that the ultimate beneficiaries of Donations are by majority students;
keep a detailed and up-to-date record of funds received and the subsequent
expenditure of such funds;
adequate internal controls in administering funds received;
production of annual financial statements.
report to AlumnusOnline (NPC) on a quarterly basis. The report must contain an
explanation of the application of internal controls, BBBEE records and
expenditure must be applied and explained.
access to their financial records by AlumnusOnline (NPC) for auditing purposes.
not engage in any dishonest and/or fraudulent and/or negligent activities in
relation to the reporting of financial information.