South Africa: Student Financial Aid Program welcomes the unqualified audit opinion of the Auditor General of South Africa for fiscal year 2020/21
The National Student Financial Aid Scheme (NSFAS) welcomes the Auditor General of South Africa (AGSA) report for the unqualified audit opinion with the findings for the fiscal year ended March 2021.
This is an important achievement and a step in the right direction. The unqualified audit opinion is the first for NSFAS since 2017 and two years of administration from 2018 to 2020.
AGSA noted that there had been a significant improvement in the overall audit result compared to previous years, with some challenges remaining especially with performance reporting.
Full auditing is part of the action plan of the organization on its way to transforming itself into a responsive, efficient, effective and responsive higher education and training financial aid administrator.
Additionally, this audit result paves the way for the NSFAS Board of Trustees to step up its fundraising goal to close the funding gap and meet the needs of students who do not meet the funding criteria. current. This audit result should give confidence to current and potential funders that NSFAS can account for the funds it manages. Therefore, the Council calls on the private sector to join us and be part of these initiatives, which have great potential to change lives and contribute to South Africa’s national and human resource development goals.
NSFAS continues to work tirelessly to support disadvantaged students and ensure they have the same opportunities as their counterparts who have access to funding and better resources.