UIF Commissioner Issues Stern Warning to Non-Cooperating Companies in KwaZulu-Natal

1 min read
uif covid-19 ters Cape Town

The Unemployment Insurance Fund (UIF) has allocated R62 billion for the COVID-19 TERS relief funds, of which KwaZulu-Natal businesses received R9.2 billion. To verify that the monies were paid to workers who were meant to receive the relief funds, the “follow the money” audit was set up.

Failure to Cooperate with Audit Results in UIF Freezing Company Bank Accounts and Assets

Several KwaZulu-Natal companies have failed to cooperate with the audit, despite making prior arrangements with forensic auditors to visit their premises. As a result, the UIF has frozen their company bank accounts and assets to enforce cooperation with the audit.

Use Audit Opportunity to Demonstrate Good Corporate Citizenry and Clear Any Suspicion of Wrongdoing, Says Maruping

UIF Commissioner Teboho Maruping has issued a stern warning to non-cooperating company directors to use the audit opportunity to demonstrate good corporate citizenry and exonerate themselves from any suspicion of wrongdoing.

UIF Intensifies Efforts on Follow the Money Project

The UIF has deployed more than 360 auditors from seven companies with auditing, accounting, and forensic investigation to assist with the “follow the money” project. Since the beginning of 2022, more than 15 company directors have been criminally prosecuted for Covid-19-related fraud.

Cooperation with Audit is Imperative to Ensure Relief Funds Reach Intended Recipients

It is imperative that companies cooperate with the “follow the money” audit to ensure that relief funds reach the intended recipients and that companies are held accountable for their actions. Failure to do so will result in the freezing of company bank accounts and assets, as Maruping has warned.

“Follow the Money” Audit is Necessary to Hold Companies Accountable for Their Actions

The fact that this auditing is happening during Workers’ Month is a spit in the face of the working class, and the UIF will not stand for it. The “follow the money” audit is necessary to ensure that relief funds reach the intended recipients and that companies are held accountable for their actions.

In conclusion, companies must cooperate with the audit to demonstrate good corporate citizenry and exonerate themselves from any suspicion of wrongdoing. The UIF will not hesitate to take action against non-cooperating companies, including freezing their bank accounts and assets and referring cases to the Hawks and the Asset Forfeiture Unit of the National Prosecuting Authority.

Leave a Reply

Your email address will not be published.

Previous Story

The 5th Global Conference on Biodiversity Finance

Next Story

The City of Cape Town’s Prepaid Electricity Meter Software Upgrade Programme

Latest from Blog

A Rousing Weekend of Sports in Cape Town

Get ready for an exciting weekend of sports in Cape Town! From rugby to football, the city’s iconic stadiums will be filled with action and adrenaline. The local government fully supports this thrilling atmosphere and encourages residents to rally behind their local teams, fostering a stronger sense of community and camaraderie through sports. Don’t miss out on the exciting games and get your tickets early, as they will not be sold at the stadiums.

The Transformation of Becott Road in Ottery: A Tale of Progress and Community Development

Becott Road in Ottery is getting an infrastructure upgrade that includes replacing over 425 meters of deteriorating water pipes at an estimated cost of R1.7 million. The project is part of the city’s effort to maintain its aging water distribution network and is expected to be completed by May 2024. The opentrench excavation method was selected for this project, and it has created job opportunities for local residents. The project signifies progress, commitment, and resilience of the city.

The Thriving Lower Silvermine Wetland: A Resolute Undertaking for Nature Conservation

The Lower Silvermine Wetland dredging project was a crucial initiative to preserve the ecosystem’s balance, reduce flood hazards, and create a safe breeding environment for threatened species. The project eliminated silt, invasive plants, and reeds overpowering the natural landscape while promoting the growth of native plant species. The LSW serves as a model for other city waterways, providing spaces for leisure activities while ensuring a safe habitat for various wildlife and enhancing overall environmental, physical, and mental health.

The Pursuit of Justice: Limpopo’s Anti-Smuggling Team Strikes Again

The AntiSmuggling team in Limpopo, South Africa, has been commended for their unwavering dedication and diligence. Their recent operation led to the arrest of two men, a stolen vehicle, and a highspeed chase. Led by Lieutenant General Thembi Hadebe, the team’s concentrated efforts during highstakes operations have left a significant impact on law enforcement in the country. Their commitment and resolve serve as a testament to law enforcement agencies worldwide.

The Investec SA Women’s Open: South Africa’s Premier Women’s Golf Event

The Investec SA Women’s Open is South Africa’s premier women’s golf event held in Cape Town. It is a collaboration between the WPGA, the Sunshine Ladies Tour, and the city of Cape Town, promoting the development of female golfers and boosting sports tourism in South Africa. The event boasts significant growth in prize money and international participation, and is broadcasted globally to millions of golf enthusiasts. It is a celebration of women’s golf, a testament to partnerships, and a beacon of growth and advancement in the sport.