Electronic Signing of Pension Fund Financial Statements for Submission to the FSB An FSB Integrated Electronic Solution

Current Process Electronic Submission of Financial Statements Submission of signed Hard Copies to follow Massive backlog – majority of 2005 Statements not submittedMassive backlog – majority of 2005 Potential penalties and non-compliance

New process Administrator / Auditor prepares Financial Statements Administrator / Auditor shares FS on Verifynow platform with Trustees and other relevant parties All relevant parties sign FS electronically on Verifynow platform Electronically signed FS submitted with electronic data to FSB Administrator / Auditor uploads FS on Verifynow platform

Process Flow FSB Auditor / Administrator Trustees Step 1 Verifynow FS

Process Flow FSB FS Auditor / Administrator Trustees Step 2 Verifynow

Process Flow FSB FS Auditor / Administrator Trustees Step 3 – Option1 Verifynow Data

Process Flow FSB Auditor / Administrator Trustees Step 3 – Option 2 FS Verifynow Data

Verifynow function Issuing of electronic signatures to relevant Parties Electronic platform for signing FS Maintaining integrity of Electronic FS and Electronic Signatures. 100% legal compliant electronic substitute for hard copy signed FS Assuring the evidential weight of electronically signed FS

Benefits Integrated with FSB Electronic system Streamlined process Cost and Time Saving Absolute Assurance of Integrity of data Legally compliant processes Tamper proof documents and ensuring the required evidential weight Processes up to date with global trends and legislative requirements

Electronic Signatures Verification of identities as per specifications in ECT & FIC Acts Verification Agents – Commissioners of Oaths Third Party verification – Home Affairs / Deedsearch database Documentary proof of verification data is kept for future reference Strict login procedures and full audit trail ensures proof of access to documents and acceptance of declarations before electronic signing of documents

SignatureSignature sample

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