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24/7 National Hotline: 0860 163 272 | Email: info@neasa.co.za

COMPENSATION FUND

Jun 10, 2024

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Dear employer


NEASA has, once again, received communication from employers across various industries, regarding their receipt of a Notice of Audit, distributed by audit firms contracted by the Compensation Fund.


Such Notices instruct these randomly selected employers to register on an online platform and submit a legion of documents concerning their organisation - comprising a period of four years - within a prescriptive period of time, or risk being labelled as non-compliant. 


The relevant audit firm, in the email distributed to those employers subject to audit, states that the purpose of the audit is to verify, “amongst other information, the following”: 


  • the Return of Earnings for at least four (4) years;

  • the assigned nature of the business and sub-class;

  • the date the first employee was employed;

  • a review of the employer’s claims for at least four (4) years; and

  • a review of the list of the employer’s subcontractors for the current year of assessment.


The documents to be submitted by an employer, include:


  • a current and valid Letter of Good Standing (LOGS);

  • a copy of its CK1 CIPC registration certificate / NPO certificate / trust certificate / ID of employer and employees;

  • SARS EMP501 / SARS tax clearance certificate;

  • UIF registration number;

  • proof of payment of Annual Assessment;

  • a detailed payroll report;

  • audited / independently reviewed / compiled annual financial statements for the financial years 2019/2020, 2020/2021, 2021/2022 and 2022/2023;

  • injury-on-duty claims register for the financial years 2019/2020, 2020/2021, 2021/2022 and 2022/2023;

  • Employer Masterfile;

  • a list of the employer’s subcontractors for the 2022/2023 financial year and their LOGS as proof of COIDA registration; 

  • and a Power of Attorney if the employer is utilising the services of a bookkeeper/accounting firm or any other third-party consultant to interact with the Compensation Fund on their behalf.


We wish to alert employers to the possibility of these audits.


Should you, the employer, receive such an audit notice, you are urged to notify NEASA via email to -coid@neasa.co.za - without delay.


For more information

NEASA Media Department

media@neasa.co.za

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