Lessons to trustees and trust funders from massive SARS ‘fine’ - 4 June 2025
~ Written by Phia van der Spuy ~
June 20th, 2025
Historically, trusts’ financials, if they were prepared, did not receive the attention they deserved from trustees. Typically, under pressure from often unforeseen deadlines, it was left to the accountant to make do with bank statements, if they existed for the trust, or to literally compile the trust’s financial statements on a one-page journal, massaging the numbers until they appeared satisfactory.