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IIA-Australia News

Directors need to be vigilant on wage theft

by IIA-Australia | Nov 29, 2019

Some of Australia’s leading companies such as Qantas, Woolworths, Commonwealth Bank, ABC and many more have been forced to repay staff millions of dollars.

The Fair Work Ombudsman’s 2018-19 Annual Report reveals a significant increase in recovered wages recovering more than $40 million for 18,000 underpaid employees during the financial year - the highest total recoveries figure in the regulator’s history. But since then Woolworths has disclosed underpayments of up to $300 million.

The Institute of Internal Auditors-Australia today has released a new ‘The 20 Critical Questions Series’ on wage theft and what directors should ask.

Among the 20 questions is – does the organisation have a defined governance framework that includes workforce, HR and payroll?

The 20 Critical Questions Series’ on wage theft and what directors should ask is available at

http://iia.org.au/sf_docs/default-source/technical-resources/20-critical-questions/20-questions-what-directors-should-ask-about-wage-theft.pdf?sfvrsn=2

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