Learning institutions in the spot over caution money and overpaid fees

An audit of eight sample learning institutions has shown that they held unclaimed financial assets in form of caution money and overpaid fees.

According to Auditor General’s performance audit report on management of unclaimed financial assets by Unclaimed Financial Assets Authority (UFAA), learning institutions are expected to remit caution money and overpaid fees that remain unclaimed for a period exceeding two years after successful completion of studies, graduation and clearance.

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position: absolute;
top: -80px;
left: 0;
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font-size: 24px;
font-weight: bold;
margin-bottom: 15px;
color: #333333;
text-align: center;
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font-weight: bold;
color: #d40511;
margin: 15px 0;
text-align: center;
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cursor: pointer;
margin-bottom: 20px;
transition: background-color 0.3s;
text-decoration: none;
text-align: center;
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.subscribe-button-green:hover {
background-color: #b0030e;
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margin-bottom: 10px;
position: relative;
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content: “✓”;
color: #d40511;
position: absolute;
left: 0;
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`;
} else {
teaserEl.innerHTML = “”;
}

activeEl.innerHTML = “”;
paywallEl.style.display = “block”;

} else if (now >= saleStart && now <= saleEnd) {
paywallEl.style.display = “none”;

var diffToEnd = saleEnd – now;
var totalSeconds = Math.floor(diffToEnd / 1000);
var days = Math.floor(totalSeconds / (24 * 3600));
var hours = Math.floor((totalSeconds % (24 * 3600)) / 3600);
var minutes = Math.floor((totalSeconds % 3600) / 60);
var seconds = totalSeconds % 60;

activeEl.innerHTML = `

Offer ends in…

${days}Days
${String(hours).padStart(2,’0′)}Hours
${String(minutes).padStart(2,’0′)}Minutes
${String(seconds).padStart(2,’0′)}Seconds

Subscribe Now & Save

`;
} else {
teaserEl.innerHTML = “”;
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
}
}

function formatTime(ms) {
let totalSeconds = Math.floor(ms / 1000);
const days = Math.floor(totalSeconds / (3600 * 24));
totalSeconds %= 3600 * 24;
const hours = Math.floor(totalSeconds / 3600);
totalSeconds %= 3600;
const minutes = Math.floor(totalSeconds / 60);
const seconds = totalSeconds % 60;
return `${days}d ${hours}h ${minutes}m ${seconds}s`;
}

updateFlashSale();
setInterval(updateFlashSale, 1000);

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An audit of eight sample
 
learning
 
institutions
 
has shown that they held
 
unclaimed
 
financial
 
assets
 
in form of caution money and overpaid fees.

Follow The Standard
channel
on WhatsApp