Proceedings of the 5th International Conference on Accounting, Auditing, and Taxation (ICAAT 2016)

Possible Financial Reporting Challenges Faced by Governing Bodies of Public Schools in South Africa

Authors
Moses Thabang Hlongoane
Corresponding Author
Moses Thabang Hlongoane
Available Online December 2016.
DOI
10.2991/icaat-16.2016.13How to use a DOI?
Keywords
School governing bodies
Abstract

Some of the South African school governing bodies (SGBs) are faced with various challenges including a lack of skills, corruption and the mismanagement of funds. These challenges make it difficult for the SGBs to discharge their duties. Section 43 of the South African Schools Act (SASA) requires the Members of the Executive Council (MECs) for Education in various provinces to develop financial guidelines for the schools. This results in the use of different accounting and reporting guidelines by governing bodies in various provinces, which may have a negative effect on the comparability and other desirable qualities, such as faithful representation, consistency and understandability of financial information. The research reported here was extracted from a literature review, which forms an integral part of a doctoral study. The study is still in progress and aims to establish the nature of reporting, the effectiveness of existing guidelines and the extent of non-compliance to regulations and existing guidelines by different schools in various provinces in order to develop guidelines to assist SGBs to prepare annual financial statements. The aim of this paper, however, is to discuss possible financial reporting challenges faced by South African SGBs of public schools. This is done by literature review.

Copyright
© 2016, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

Volume Title
Proceedings of the 5th International Conference on Accounting, Auditing, and Taxation (ICAAT 2016)
Series
Advances in Economics, Business and Management Research
Publication Date
December 2016
ISBN
978-94-6252-261-9
ISSN
2352-5428
DOI
10.2991/icaat-16.2016.13How to use a DOI?
Copyright
© 2016, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Moses Thabang Hlongoane
PY  - 2016/12
DA  - 2016/12
TI  - Possible Financial Reporting Challenges Faced by Governing Bodies of Public Schools in South Africa
BT  - Proceedings of the 5th International Conference on Accounting, Auditing, and Taxation (ICAAT 2016)
PB  - Atlantis Press
SP  - 120
EP  - 129
SN  - 2352-5428
UR  - https://doi.org/10.2991/icaat-16.2016.13
DO  - 10.2991/icaat-16.2016.13
ID  - Hlongoane2016/12
ER  -