TERS Forensic Auditing Imminent: Employers, Be Prepared

From the first week of December 2020, employers who received benefits from the COVID-19 Temporary Employer-Employee Relief Scheme ("TERS") can expect a knock on their doors from the Unemployment Insurance Fund's ("UIF") appointed forensic auditors. According to a statement released last Friday, 27 November 2020, the UIF has appointed seven companies with auditing, accounting and forensic investigation expertise to "follow the money" and examine employers' financial records to check the authenticity of their claims and verify if the money was paid over to the qualifying employees.

"If those companies have a case to answer for illegally receiving those funds, they will be made to account through the legal processes," the statement confirmed.