SANAC Celebrates 9 Years of Unqualified Audit Opinions
- Karabo Makgato
The South African National AIDS Council (SANAC) has achieved a significant milestone by celebrating nine consecutive years of unqualified audits. This accomplishment reflects the council’s ongoing commitment to financial integrity, transparency, and accountability in its operations.
The 2023-2024 Unqualified audit was issued by Independent External Auditors signify that SANAC’s financials are free from material misstatements and comply with strict financial processes and abide by established standards of accounting principles. This achievement is particularly commendable given the complexity of SANAC’s role in coordinating South Africa’s multi-sectoral response to HIV, TB, and STIs. The Trust is subject to multiple audits due to the multiple donor-funded projects it coordinates. Over and above the scheduled organisational audit, donors also send their own auditors who must also satisfy themselves with the organisation’s financial conduct and efficiency in project management.
A qualified audit opinion indicates that while the financial statements are generally accurate, there are some exceptions matters which require management attention – these issues are significant but not pervasive enough to warrant an Adverse Opinion, which is an instance where the financial statements do not fairly present the financial position, results of operations, and changes in financial position, as per generally accepted accounting principles.
SANAC plays a crucial role in bringing together government, civil society, and the private sector to address the country’s pressing public health challenges. By maintaining sound financial management practices, the Trust ensures that resources are allocated effectively towards combating these epidemics. “As SANAC approaches its 10-year milestone next year, we hope for a Clean Audit Opinion which we continuously strive for. We are constantly working on improving our financial management processes to ensure transparency and accountability to our stakeholders and the public,” said SANAC CFO, Mr. Sithembiso Ndaba.
The SANAC CEO Dr. Thembisile Xulu affirmed the CFO’s sentiments, “These 9 years are a reflection of the diligent work and integrity of our financial management and affirm SANAC’s position as a going concern. By strengthening our systems and practices, we aim to uphold the trust placed in us in coordinating the country’s most challenging epidemics of HIV, TB, STIs, the consistent unqualified audits also enhance SANAC’s credibility with stakeholders and funders, reassuring them that their contributions are being managed responsibly. This milestone reaffirms our dedication to uphold the highest standards of governance while continuing to drive South Africa’s response to the three epidemics,” said Dr. Xulu, also expressing gratitude to the Board, staff and stakeholders for their and cooperation.