Prior to joining SW, I was an Audit Partner at a boutique firm in Sydney. Before that, I spent several years as an Audit Principal at a top-five firm. I am a Registered Company Auditor with extensive experience providing audit and assurance services to clients ranging from single entities and growing private groups to subsidiaries of large multinationals, international groups, and publicly listed entities.

My clients represent a diverse cross-section of industries, giving me significant depth of experience across the property, manufacturing, mining, technology, financial services, retail, hospitality, entertainment, and media sectors.

I am also the APAC Regional Director of the Kreston Global Audit Group and serve as Lead Advisor and Co-Chair of Kreston Global’s APAC Steering Committee. Kreston Global is a leading international network of more than 150 independent accounting firms across over 100 countries.

I am a Partner of SW Audit and a Director of SW Accountants & Advisors Pty Ltd.

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Our Assurance and Advisory team embraces technology, including cutting edge data analytics software and other bespoke IT tools to ensure a targeted and robust approach. With relationships at the centre of what we do, our team is committed to fully understand your business resulting in a tailored solution that best meets your needs.

• financial statement audits and reviews
• compliance audits
• controls assurance reports, including GS007
• corporate governance
• data analytics
• information technology risk and security
• internal audit
• review of financial reports
• risk management and Corporate Governance systems and controls reviews
• technical IFRS, accounting advice and training
• preparation of financial reports
• other assurance engagements.

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Our suite of data analytics covers income tax, indirect tax, customs and superannuation. We also provide customised analytics solutions for specific requirements.

CTS GST data analytics

In-house tax, finance and accounting functions are increasingly using business data analytics insights to assist in managing their GST obligations.

Manage GST compliance risks

The Australian Taxation Office are increasingly taking an automated approach to tax audits using data analytical tests to identify errors and anomalies. Running analytical tests on your GST data regularly or prior to any ATO reviews has a number of potential benefits such as:

• Demonstrating good tax governance
• Identifying errors for voluntary disclosure to reduce the risk of potential penalties
• Draw attention to potential process deficiencies
• Identify potential overpayments or cash-flow opportunities
• Highlight potential anomalies which could otherwise trigger a GST audit.

In order to focus on potential anomalies within large volumes of transactional data our data analytical tool assesses your data against a number of automated tests including:

• Do the Business activity Statements reconcile to the P&L?
• Are transaction reversals consistent with the original transaction posting?
• Is the GST treatment of a type of supply (goods or services) consistent?
• Is there a significant delay between transaction date and posting date?
• Are supply types and customer and transactions treated consistently for GST classification?
• Are there any potential duplicate transaction postings?
• Is GST being charged when it shouldn’t be?

It is also possible to use CTS GST data analytics to form part of your regular BAS preparation process.

Maximise GST opportunities

We also find in practice that using GST data analytics tools and methodologies often identifies areas of significant opportunity for GST savings. In many cases, this arises in circumstances where the correct GST treatment is known, but is not followed in practice. This is because our data analytics approach is focussed on how transactions have actually been treated in reality, instead of relying on how you think they should have or would have been treated.

• Our GST data analytics approach has uncovered significant savings in areas such as the following:
• GST incorrectly charged and remitted on transactions within a GST group
• Import GST not fully captured and recovered
• Taxable purchases being incorrectly recorded as being GST free, meaning input tax credits were not identified and claimed
• GST input tax credits being missed where amounts have been ‘on-charged’ or reimbursed
• GST apportionment percentages not being appropriately followed or regularly reviewed
• Incorrect GST input tax credit calculations (e.g. GST not equal to 10%)
• GST on bad debts
• GST on journals
• Transactions not recorded through the usual sale and purchase process.

Many clients have engaged us to undertake this analysis on a regular periodic basis, while some prefer to automate the analysis as part of their BAS preparation process.

Want to find out more? 

To learn more about how CTS can benefit your business, simply click here to email our CTS team and a team member will be in touch with you within the next business day.

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I am Head of Audit for the national practice and have previously served as a Board Member of SW and the firm’s Quality and Risk Partner.

I lead audits for a diverse portfolio of clients, including listed companies, international groups, large private companies, and not-for-profit organisations.

I am also involved in technical matters, including financial reporting, accounting standards, assurance, and quality management. I am a member of the International Quality and Risk Committee for the SW International member firms.

My experience includes:

• 22 years of audit experience, including 13 years as a Partner with SW
• serving as Lead Engagement Partner on the audits of various ASX-listed entities and large Australian private groups
• being a highly regarded Audit Partner with a track record of acting as a consulting expert in matters involving allegations of professional auditor negligence
• serving as Head of SW’s National Assurance and Advisory Division since 1 July 2024
• serving on the SW Executive Board from 1 January 2022 and as the firm’s Quality and Risk Partner from 2022 to 2025.

I am a Partner of SW Audit and a Director of SW Accountants & Advisors Pty Ltd.

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On 1 July 2021 wage theft became a crime in Victoria.

The Wage Theft Bill 2020 creates new employee entitlement offences, comprising wage theft offences and new record keeping offences. It is designed to capture employers who falsify or fail to keep records for the purposes of concealing wage theft.

The key objective of the Bill is to ensure that employers who withhold employee entitlements dishonestly are held to account and protect vulnerable employees from exploitation.

The new law states that employers who dishonestly withhold wages, superannuation or other employee entitlements could be fined up to $198,264 for individuals, $991,320 for companies and be sentenced to up to 10 years’ jail.

As a director, you have a legal responsibility to ensure your company meets its Pay As You Go (PAYG) withholding and Superannuation Guarantee Charge (SGC) obligations. If the company does not meet these obligations, you may become personally liable for a penalty equal to these amounts.

Payroll health check

In light of these new laws and given the number of organisations that have been publicly identified to have underpaid employees we urge all businesses to undertake a payroll health check. The health check will ensure that all entitlements, including superannuation, are accurately determined and paid in compliance with the current ATO requirements to avoid any penalties.

• Underpayments to casual and permanent staff for ordinary pay, overtime and leave loading
• Inconsistencies and incorrect interpretation and payment of payroll entitlements under various Awards
• Underpayment of Superannuation entitlements.

What is the impact?

Financial risks

• Underpayment to employees
• Payroll tax underpayment
• Superannuation underpayment
• WorkCover underpayment
• Annual leave loading underpayment
• Penalties arising from underpayments

Reputation risks

• Staff morale
• Community expectations
• Adverse media attention
• Criminal prosecution

Opportunity

• Self report to avoid potential financial and/or criminal actions
• Meet your social and legal obligations to act in the best interests of your employees
• Be able to potentially claim a corporate tax deduction for the payment of underpaid superannuation
• Receive a reduction of potential penalties that can be up to 200% of the total underpaid superannuation.

Get in touch

Through the use of sophisticated data analytics and a review of your current awards, enterprise agreements and payroll processes, SW can assist you to manage your organisation’s payroll and superannuation risks efficiently, as well as identifying potential savings opportunities.

We use our customised data analytics tool to review your payroll records to identify any shortfalls or disclosure concerns.

Rest assured that whilst the Government’s social distancing guidelines are in force, we are able to assist you remotely during this period and are able to provide the full benefits of these services.

Reach out to one of our SW experts below to discuss how we can support you.

 Contacts

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