RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

2.4 Obtain the registered rules of the Fund from the Principal Officer and perform the procedure below. 2.4.1 Calculate the member and employer contribution rates for each member selected in procedure 2.3 by dividing the contribution obtained in 2.3.1 by the salary per the supporting documentation obtained in procedure 2.3.2. Agree the calculated member and employer contribution rates to the rate per the rules of the Fund obtained in procedure 2.4. Note any differences. 2.5 Inquire from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) whether the Fund is a unitised or non- unitised fund, and note the type of fund.

We have obtained the registered rules from the fund from Mr. Amos Mojapelo (Senior Accountant)

We have calculated the member and employer contribution rates for each member selected in procedure 2.3. This was done by dividing the contributions from procedure 2.3.1 by the salaries as per the supporting documentation from procedure 2.3.2. We then compared these calculated rates to the rates per the rules of the Fund obtained in procedure 2.4. No differences were noted. We inquired from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) whether the Fund is a unitised or non-unitised fund, and noted that the fund is a unitised fund. For the members selected with unitised investment products, we performed the following procedures: We recalculated the units allocated to the member for the specific month, as per the fund administration system, by dividing the contributions and/or lump sum transfer received by the unit price, using both inputs as per the administration system on the dates that the contributions and/or lump sum transfers received were unitised. The recalculated units agreed to the units allocated to the member for the specific month as per the fund administration system. No differences were Noted. The unit prices external confirmation of prices were obtained and there were no exceptions noted.

If the fund is a unitised fund, as noted in procedure 2.5 For the sample of members selected in procedure 2.3, perform the following procedures: member for the specific month, as per the fund administration system, by dividing the contributions by the unit price using both inputs as per the administration system on the dates that the contributions were unitised. Agree the recalculated units to the units allocated to the member for the specific month, as per the fund administration system. Note any differences.

2.5.1

2.5.1.1 Recalculate the units allocated to the

2.5.1.2 Obtain an external confirmation of the unit prices from external third party throughout the period/year ended 30 June 2023. Note any exceptions of confirmations not obtained. 2.5.1.3 Agree the unit price per the administration system in 2.4.1.1 to the unit price per the external confirmation in 2.4.1.2, and note any differences.

The unit prices agreed to the unit prices on the administration system at 30 June 2023.

64 Rand Water Provident Fund Annual Report | 2022-2023