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COMPENSATION FUND: Is your business being audited by the Compensation Fund?

Oct 25, 2023

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COMPENSATION FUND

IS YOUR BUSINESS BEING AUDITED BY THE COMPENSATION FUND?

 

Dear employer

When employers are submitting their ROEs, and their submission varies significantly from the previous year’s submission resulting in a credit to the employer, or where the ROE is overstated due to an employer error, that employer is automatically flagged for an audit by the Fund’s system.

When an employer is flagged for an audit, assessment is blocked not allowing any subsequent ROE submissions online or the downloading of LOGS, until such time as the audit is complete.

When the above occurs, the Fund’s system displays a ‘pop-up’ message, indicating which documents should be submitted to the Fund for purposes of completing the audit. Although the turnaround time for resolution of audits is set at 30 days, it seems that this is not the case in reality. NEASA addressed this issue with the Fund and the Fund undertook to investigate and streamline this process.

 
In the meantime, if you are an employer that has been flagged for an audit, and your audit is still pending or is without resolve, please submit the following information to the Compensation Fund immediately and complete the following form, so that NEASA can submit your issues to the Fund and drive the resolution thereof.
 
For more information:
NEASA Media Department
media@neasa.co.za 

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