Payroll Audit and Remediation

Employers know they must comply with wage and entitlement standards set by Industrial Instruments and the Fair Work Act. However as Industrial Instruments become more complex, even the most minor payroll errors (however inadvertent) can become a massive problem.

Apart from the remediation bill, which can really add up, underpayment of wages and entitlements exposes organisations and their directors and officers to severe fines and penalties. In some jurisdictions, wage underpayments also attract criminal sanctions.

Payroll Audits are done to identify systemic issues in payroll processes and ensure that any issues identified are rectified, and any underpayment remediated. The need for a payroll audit may arise from an identified error or may be part of a broader risk management strategy.

Because of the risk of serious civil and criminal penalties, IRiQ Law recommend that Payroll Audits be done as part of a broader legal compliance enquiry, conducted under legal professional privilege to preserve the confidentiality of the result.

IRiQ Law takes a multi-disciplinary approach to payroll compliance. We have developed a propriety system called IRPAY, which leverages technology and data analytics with our IR and legal expertise. The result is a wholistic solution to payroll audit and remediation and risk management for organisations, directors and officers.