Optimised Payroll Compliance Auditing Software

 
 
  • Reliably assess and control wage compliance risks

  • Reduce auditing and reporting costs by up to 80%

  • Monitor payroll compliance improvements

In 2018-19, the Australian FairWork Ombudsman clawed back $40.2 million in underpayments from companies and individuals that underpaid or defrauded their workers. It also successfully brought legal action against 36 companies and individuals with penalties totalling $4.4 million.

In Australia, employers found guilty of incorrectly paying or defrauding their employees face penalties of $630,000 for a company and $126,000 for an individual per serious contravention.   

Given the serious consequences of wage non-compliance it makes sense for companies to regularly verify their employees are receiving the correct rate-of-pay and proper payments and contributions are being made.

But conducting regular payroll audits can be an very time consuming and expensive activities; especially if they are not planned correctly.  This is where Compliance Master®'s smart, A.I. auditing technology can help.

Unlike other payroll auditing solutions, Compliance Master® uses world-best statistical sampling methods and advanced A.I. machine-learning to reliably assess and control wage compliance risks within acceptable limits.  It can also reduces data analysis and reporting costs - by up to 80%. 
 
Don’t leave your company's wage compliance risks to chance.  Sign-up for your FREE no-obligation demonstration and 30-Day trial now by clicking on the link below.   
 
aged-care solutions ceo

Peter Mills -

 

Our Payroll Auditing Software’s features and benefits

 
 

Features

  • Compliance Master® uses world-best statistical sampling methods and advanced A.I. machine-learning to calculate the optimum sample-size for each payroll audit. 
  • Risk-based auditing is facilitated by separating wage non-compliances into different levels of importance  i.e. Critical, High, Medium, Low.
  • Our tailored on-line checklist enables auditors to directly attach supporting compliance evidence to each wage assessment i.e. comments, wage records, screen-shots, photographs, etc. 
  • Audit data is automatically analysed to determine whether identified wage non-compliance levels have exceeded specified risk limits.
  • System-generated protocols determine what actions are needed to mitigate wage non-compliance risks.
  • Compliance performance is continuously evaluated and displayed in an easy-to-understand dashboard.
 

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Benefits

  • Compliance Master® reduces the high costs associated with regular payroll auditing by calculating the optimum sample-size and frequency for each audit, scientifically analysing results,and determing what actions if any are needed to mitigate payroll risks.
  • More efficient and effective payroll auditing helps identify and correct systemic wage non-compliances before they can result in costly regulatory penalties and reputation damage.
  •  Compliance Master®  will ensure your company's auditing and improvement resources are always focused on its areas of highest payroll risk.
  • It will also significantly reduce the amount of time spent analysing payroll audit data and preparing reports for board-members, senior-managers and regulators.
  • And most importantly, it will improve internal and external stakeholder confidence in your company's wage compliance.
 

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Insightful 

  • Compliance Master® provides board-members, senior-managers and internal-auditors the timely and reliable information needed to effectively carry out their wage compliance oversight and continuous improvement responsibilities.
  • An online audit trail  provides board-members, senior-managers and payroll personnel the information needed to quickly understand and correct the causes of unacceptable wage compliance.
  • Use Compliance Master® to record and report compliance improvement progress to internal and external stakeholders; including regulators. 
 

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