🚨📢 UIF commissioner warns company directors: cooperate with auditors investigating Covid-19 TERS relief funds or face frozen bank accounts and assets. Read more here 👇
KwaZulu-Natal businesses received R9.2 billion of the total R62 billion Covid-19 TERS allocation, which was intended to be paid over to workers to sustain them during and after the Covid-19 lockdown periods.
Maruping has warned that the UIF will not hesitate to refer cases to the Hawks and the Asset Forfeiture Unit of the National Prosecuting Authority to freeze bank accounts and assets of non-cooperating companies. He called on company directors to use the audit opportunity to demonstrate good corporate citizenry and to exonerate themselves from any suspicion of wrongdoing.He also confirmed that the UIF has intensified work done on the “follow the money” project, with the aim of accounting to the Auditor-General of South Africa as well as other assurance, oversight and governance structures much sooner, for the relief monies paid out to companies during and after the Covid-19 pandemic.
“Since the beginning of 2022, more than 15 company directors have been criminally prosecuted for Covid-19-related“The longest direct imprisonment sentence remains a period of 135 years which was meted out to Bookkeeper Lindelani Gumede after he was found guilty of 32 counts of Covid-19 fraud, amounting to R11 million,” Maruping added.
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