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Small biz accountants, bookkeepers on notice as audit locked in

Small biz accountants, bookkeepers on notice as audit locked in

About 200 businesses will be getting a visit from the workplace regulator in the coming months, after a spate of non-compliance tip-offs.

Tax&Compliance Katarina Taurian 28 August 2018

The Fair Work Ombudsman has set its sights on NSW, after identifying hotspots of non-compliance in the outer Sydney regions.

Specifically, the FWO will be inspecting the time and wage records of businesses across various industries, including retail, accommodation and food services.

“Businesses should be warned that non-compliance can lead to action ranging from formal cautions and on-the-spot fines to litigation for the most serious breaches,” said Fair Work Ombudsman Sandra Parker.

In June, the FWO found close to half of the 626 businesses it visited in regional NSW fell short of complying with workplace laws.

The mid-north coast region was particularly problematic - a quarter of businesses surveyed in the area were found to have poor bookkeeping practices.

Record-keeping obligations, including basic payslip obligations, are often at the heart of a business’ non-compliance, and can lead to costly penalties.

Recent changes to the Fair Work Amendment (Protecting Vulnerable Workers) Act 2017 have doubled the maximum penalty for failing to keep employee records or issue pay slips to $63,000 for a company and $12,600 for an individual, and tripled the maximum penalty for knowingly making or keeping false or misleading employee records to $12,600 for an individual.

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Small biz accountants, bookkeepers on notice as audit locked in
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