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Directors need to be vigilant on wage theft

Nov 29, 2019 09:09 AM

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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