RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

8.3.3 For the exceptions noted in 8.3.2 above (receipts after seven days), inquire from the Fund administrator whether Late Payment interest has been raised in terms of Regulation 33 of the Act. Benefits 9.1 Obtain a list from the administration system of lump sum benefits per exit type reflected as expenses in the Fund’s Statement of Changes in Net Assets and Funds for 30 June 2023 from the Fund administrator, and perform the following procedure: 9.1.1 Agree the list of lump sum benefits per exit type to the respective general ledger benefit expense accounts reconciliation prepared by the Fund administrator. Note any differences. 9.2 Select a sample of the lesser of 25 or 10% of the total number of lump sum benefits (as per the selection criteria noted above) pro- rated on the number of exits per exit type from the list. Obtain the member statements from the administration system and perform the following procedures on the sample selected: 9.2.1 For each selected benefit compare the following fields: • Gross benefit amount; • Tax amount; • Net benefit amount; 9.

All contributions were received within the prescribed period (Within 7 days of the following month and therefore the procedure is not applicable.

We obtained a list from the administration system of lump sum benefits per exit type reflected as expenses in the Fund’s Statement of Changes in Net Assets and Funds for 2023 financial year from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) and performed the following procedure: The list of lump sum benefits per exit type agreed to the respective general ledger benefit expense accounts reconciliation prepared by the Fund administrator. No differences noted From the list obtained, we selected a sample for exit type, pro-rated on the number of exits. We obtained the member statements from the administration system from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) and performed the following procedures on the sample selected: We compared each benefit selected to the administration system and the authorised supporting documentation, such as the signed member exit form and SARS Tax Directives inspected in accordance with the procedures of the Fund for the following fields: • Gross benefit amount; • Tax amount; • Net benefit amount;

• Exit date; and • Type of benefit

to the administration system and the authorised supporting documentation, such as the signed member exit form and SARS Tax Directives determined by the procedures of the Fund. Note any differences. Exit date: i. Agree the exit date per the member’s withdrawal form obtained from the Fund administrator to the exit date reflected on the administration system. Note any differences.

• Exit date; and • Type of benefit. We noted no differences Exit date:

The exit date as reflected on the member’s withdrawal form obtained from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior

80 Rand Water Provident Fund Annual Report | 2022-2023