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TERS payments reinstated
- 27 August 2020
- Accounting
- South African Accounting Academy
The Unemployment Insurance Fund (UIF) Temporary Employer/Employee Relief Scheme (TERS) has resumed payments of the Covid-19 Benefits after a 24-hour delay, caused by the need to address control deficiencies in the online payment system.
The UIF Commissioner said halting payments is the “usual step” when the UIF picks up problems.
As part of a wider Covid-19 probe on state organs, the UIF is being audited by the Auditor-General South Africa (AGSA). The AGSA team had observed some “control deficiencies and anomalies” in the system, which prompted the immediate suspension of payments. As the AG performs its audit and makes observations, the department will address them immediately – this means that they will have to stop their activities to correct the situation as they did with the 24-hour suspension.
Click here to access the news article:
https://www.moneyweb.co.za/news/south-africa/uif-lifts-suspension-on-ters-benefit/
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