Description

The Compensation Fund keeps a detailed record of your “account” with them.

Thus, if you need to reconcile your records with the Compensation Commissioner’s or if you want a copy of an historical Notice of Assessment for your auditors, you can get one.

With the Compensation Commissioner’s statement of account, you will see all credits and debits to your accounts, on the dates on which they are raised. You will therefore find:

– Assessments levied;

– Penalties raised;

– Reversals (credits and debits);

– Payments (annual and installments);

The statements of accounts do contain cryptic references so you may not be able to establish the exact nature of all the transactions. However, we can help explain most of them to you if you find anything unclear.

More importantly, if there are any unusual transactions (which aren’t unheard of – there are good reasons that the Compensation Fund has received qualified Auditor General reports for several years now), we can try find out what the causes could be and find ways to help you have them sorted out if they are errors (or worse!).