Payroll and related-liabilities determinations are complex. Employment law and enforcement is ever-evolving and well regulated by the Fair Work Ombudsman. Legislative developments and court decisions need to be heeded. Errors entail significant risks, such as wages underpayment and financial-statement misrepresentation.
Accountants need to be up-to-date with the latest developments both for the sake of their own businesses and those of their clients. Auditors need to be aware of employment law as it affects risks and their obligations under NOCLAR and ASA 250 Consideration of Laws and Regulations in an Audit of a Financial Report.
The session will reveal the latest developments in employment law and regulation, including actions taken by the Fair Work Ombudsman. Accountants and auditors need to understand better and be able to manage employment -law risks.