The Unemployment Insurance Fund (UIF) has indicated that COVID19 Temporary Employer/Employee Relief Scheme (TERS) audits will be performed on employers and employees that claimed TERS funds. The UIF has appointed 7 firms to perform these audits.
Due to a short time frame the auditors are requesting clients to submit the information within 5 days from date of receiving a request for information from SARS.
Please start preparing the information, even if you have not yet been contacted to ensure that you meet the short time-line. The South African President has signed a proclamation for the Special Investigating Unit (SIU) to support the Fund, hence any non-compliance will be referred to the SIU for investigation.
If employers would like to verify the validity of the firm requesting the information please contact [email protected] detailing the firm's name that has contacted the employer.
Source: South African Institute of Chartered Accountants (SAICA)