It is of critical importance that the Governance Structures upheld by the Extreme Surf School are of the highest standard and reflect the seriousness with which we are pursuing our mission.
The Extreme Surf School has been incorporated under Section 21 of Republic of South Africa’s Companies Act 1973. As a company formed without share capital we exist solely for the purpose of driving forward the sport of surfing among previously disadvantaged communities within South Africa. We do not trade and no director shall financially benefit from running this school (as stipulated in our founding documents). We are required to submit to annual audits by a Registered Chartered Accountant and must submit a number of returns to both the South African Revenue Service (SARS) and the NPO Registrar.
In addition to regulatory framework within which we exist we also seek to provide fully transparent financial information to all of our members, supporters and partners to ensure that appropriated scrutiny may be directed to our activities. We will ensure any related party transactions are fully disclosed, we adhere to best international practice as far as financial reporting and governance for not-for profit companies are concerned.
11110000101010101010101011001100111111111111000011001100110011001100110010100000110000001100000011110000101000001111111110001000
|