Depositing incorrect amount - ‘sheer negligence’

2017-10-18 06:01

DEPOSITING R14 million into a student’s account is grossly negligent.

The question that begs to be answered is whether this incorrect amount is being highlighted because of its big sum of money or could it be that smaller sums go by unnoticed?

Many will question the procedures and methodology of payment in respect of checks and balances. If this was a technical glitch then what measures are going to be taken to remedy this situation?

If, on the other hand, it was human error will the employees be given in-service training to make sure a similar situation does not repeat itself?

However, this seems to be a case of sheer negligence on the part of the employee who deposited the money. What action is going to be instituted against the employee for their negligence? Are they suitably qualified and do they have the relevant accounting skills to be in this portfolio?

It’s a travesty when innocent lives are affected because of sheer negligence and incompetence. What is even more puzzling is that the R14 million was sitting in the student’s account for approximately two months before the error was detected. Is there no reconciliation statement in terms of payments for the day? Accounting practices seem poor or non-existent for a colossal error to go undetected for such a long period of time. Such a system is prone to corruption and mismanagement.

With students advocating for more funding, every rand needs to be channelled for its intended purpose, which is to assist the financially challenged.

Proper accounting methods need to be implemented to keep track of amounts being paid.

Staff need to be properly trained resulting in them having the requisite accounting and numeracy skills so they can execute their job descriptions confidently.

This must be a learning curve.

It must never be allowed to happen again.



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