The Auditor-General of South Africa exposed serious irregularities at the Compensation Fund and UIF.
ActionSA on Sunday demanded urgent intervention from the Minister of Employment and Labour Nomakhosazana Meth, following damning audit findings that reveal widespread corruption and mismanagement at the Compensation Fund and Unemployment Insurance Fund .In a statement, the party noted that Auditor-General of South Africa had exposed serious irregularities in the two funds, which manage a combined annual revenue of R46 billion.
“The dignity of our nation’s workers is being systematically stripped away by those entrusted to safeguard their welfare,” said Beesley.The Compensation Fund, responsible for providing compensation to employees for work-related injuries and diseases, has received disclaimer audit opinions for 12 consecutive years.
The audit revealed the Compensation Fund’s irregular expenditure stands at R485 million for the 2023/2024 financial year, while fruitless and wasteful expenditure increased to R652 million from R567 million in the previous year. Beesley also expressed frustration that the UIF has reportedly failed to submit timely financial statements and received qualified audit opinions for five consecutive years.
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