What is payroll compliance? Payroll compliance goes beyond paying your employees on time. It means having a well-tested, future proof system that incorporates the complex payroll compliance legislation.
Now more than ever, preparing your business to respond to the current and upcoming challenges can feel overwhelming.
The way businesses have had to adapt, with significant challenges and new ways of working adding to this complex scenario.
The payroll network requires expert navigation to ensure your people and your company’s reputation are protected. Non-compliance with payroll rules can lead to significant impact, both financial and on the people affected.
Our robust system, along with our highly skilled consultants, will ensure your organisation meets Australian payroll compliance requirements.
What is KPMG ThinkPay?
KPMG ThinkPay is an end-to-end service across payroll risk and time-critical wage compliance issues.
KPMG ThinkPay is an end-to-end service across payroll risk and time-critical wage compliance to help address wage underpayment challenge facing Australian organisations.
KPMG ThinkPay is powered by our proprietary wage compliance calculator. This enables us to provide actionable insights to our clients faster and more accurately.
Our integrated team of multi-disciplinary specialists are solely dedicated to investigating, remediating and preventing payroll non-compliance, covering:
+ payroll consulting
+ payroll operations and systems
+ behavioural risk
+ superannuation and taxation
combined with technology and analytics.
We will assist you to understand your payroll and industrial instrument landscape to identify potential exposure to wage non-compliance, undertake vulnerability assessments of the payroll environment, understand key risk indicators and recommend next steps to undertake further analysis.
The KPMG ThinkPay approach involves three main stages:
We assess risk within the payroll value chain to uncover any potential vulnerabilities. We perform a tailored payroll risk assessment across one or all of the following: people, process, technology, and governance.
Achieve a culture of compliance
We support clients to set up and run remediation programs of all sizes.
We help clients to quantify payroll risk, understand the root cause, engage with key stakeholders, and pay their employees.
Proactively manage payroll risk
We help clients drive go-forward compliance across their payroll value chain. We support clients to design, run, govern and monitor their payroll value chain. We aim to prevent payroll risk, future-proof and optimise business operations.
Optimise payroll operations
Because your people matter
Learn more about how KPMG ThinkPay can simplify your payroll operation systems to ensure compliance.
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Complete your Vulnerability Self-Assessment today
Take our short diagnostic survey to self-assess whether you have a potential payroll compliance issue and contact us about KPMG ThinkPay.
Why is payroll compliance important?
Payroll compliance is important because your people are important. The payroll network requires expert navigation to ensure your people and your business are protected. Wage compliance and integrity affects all industries – there is no one sector that is immune to underpayment or overpayment issues. By drawing on our subject matter experts, KPMG is uniquely positioned to help you navigate the complexities of your payroll environment.
Meet the team
Contact the KPMG ThinkPay and Payroll Services professionals below for more information.
KPMG ThinkPay webinar series
Navigating the wage compliance landscape.
Webinar 1 – Sandra Parker and Kristen Hannah of the Fair Work Ombudsman (FWO) provided an insight into the current employment landscape from a regulator's perspective.
Webinar 2 –Angus McKay, CEO and Managing Director of 7-Eleven Australia, and Elizabeth Ferrier, Group Head, Employee & Industrial Relations of Toll provided their insights into managing wage compliance from the corporate perspective.
Counsel’s perspective: Wage Theft Act 2020
Webinar 3 – Matthew Minucci of Counsel provided legal insights and challenges relating to the introduction of wage theft laws.
Wage Inspectorate Victoria
Webinar 4 – Robert Hortle, Commissioner of Wage Inspectorate Victoria, and Jessica Downey, Assistant Director, Wage Theft provided insights into operationalising the Wage Theft Act from a regulatory point of view.
Workplace laws spotlight
Webinar 5 – Robert Hortle, Commissioner of Wage Inspectorate Victoria and Lily Dekic, Deputy Commissioner provide updates to Victorian workplace laws, including, long service leave and child employment.
If you are interested in receiving the recording for any of the above webinars, submit a request below.