53. Must reports from political parties and/or candidates include information on itemized income?

PART III, Financing of Political Parties Act, 2015, ammended in 2016

23. (1) The treasurer of a political party shall ensure that the accounting records are kept, with respect to the political party, in
accordance with the principles and accounting practices and in accordance with generally accepted audit standards and in such manner
which is sufficient to show and explain the political party’s transactions.
(2) The accounting records shall be kept in such manner that they:
(a) disclose, at any time, and with reasonable accuracy,
the financial position of the political party at that time;
and
(b) enable the treasurer to ensure that any statement of
accounts prepared by him for the purposes of the
annual statements of accounts comply with the
principles and accounting practices and in accordance with
generally accepted audit standards and with the relevant
provisions of this Act.
(3) The accounting records must in particular contain:
(a) sufficient details to be able to identify all sources of
income received and all disbursements made by the
political party, and the matters in respect of which
such receipts and expenditure takes place;
(b) a record of the assets and liabilities of the political
party; and
(c) the details of entities including commercial enterprises
which are related directly or indirectly to a political
party or are otherwise under its effective management
or control.

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