The regulator’s outcome
The Fair Work Ombudsman reported $10.34 million in penalties against Commonwealth Bank and CommSec in February 2024. The matter involved obligations under enterprise agreements and arrangements intended to leave employees better off overall. Read the linked penalty release for the findings and scope.
The practical lesson
Payroll controls need to test the actual entitlement against the amount paid and trigger correction when there is a shortfall. A salary or an established arrangement should not end the analysis. This case does not establish that local payroll teams are inherently incapable.
Questions for your next review
Which employees require comparison calculations? How is actual time captured? Who signs off the reconciliation and any top-up? Where is the evidence retained? A recurring control should specify the population, timing, calculation method and escalation owner.
How SESAY can help
SESAY can support reconciliation packs, exception investigation and documented review. Complex instrument interpretation and historical remediation should be separately scoped with appropriate expertise.
Discuss your payroll requirementsOfficial sources & further reading
General information, current at the review date. Check the linked regulator guidance for your circumstances and any later changes. SESAY service scope and authorisations are agreed before commencement.