There has been a long list of high-profile Australian companies with underpayments to employees in the news recently.The payroll function and its key risks and controls.

The majority of these underpayments result from:

  • Interpretation of the Awards and Enterprise Agreements; 
  • Incorrect set up of pay codes and rules in the system; and
  • Knowledge gaps and understaffed payroll teams.

This can give rise to significant financial, reputational, legal and fraud risk.

Watch the video by Nicole Mohan, Senior Manager and Jennifer Horton, Assistant Manager from our Risk Advisory Division in Brisbane, as they discuss the payroll function, its key risks and controls.

 

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