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Higher compliance rates but still cause for concern in healthcare sector: Fair Work Obudsman

THE Fair Work Ombudsman’s National Healthcare and Social Assistance campaign has recovered more than $100,000 for 193 workers across the industry.

The agency conducted a total of 696 audits across the medical services, allied health services and residential care services sectors. Businesses included GPs, physiotherapy services, dental services and retirement villages.

Of the businesses audited, inspectors found that 85 percent were paying their staff correctly and 86 percent were compliant with record keeping and payslip requirements.

Overall, the Fair Work Ombudsman found that 74 percent of businesses were fully compliant with their workplace obligations.

The 696 audits led to the Fair Work Ombudsman issuing 16 infringement notices, 12 formal cautions and one compliance notice to non-compliant businesses. A total of $109,295 was recovered for employees.

Acting Fair Work Ombudsman Kristen Hannah said compliance rates in the industry compared favourably to other industries the agency had focused on, however any non-compliant businesses were cause for concern.

“The campaign identified errors relating to pay rates, record keeping and pay slip requirements among non-compliant businesses,” Ms Hannah said.

“I cannot emphasise enough the importance of businesses making themselves aware of their obligations in terms of ensuring their employees are receiving their due entitlements and keeping accurate records.

“Non-compliant businesses may find themselves liable for on-the-spot fines, hefty back‑payment bills and, in the most serious cases, could face court action,” Ms Hannah said.

Ms Hannah said that with maximum penalties for serious contraventions of workplace laws recently increasing ten-fold and penalties for record-keeping breaches doubling, businesses that breach the law are exposing themselves to big fines.

“With the wealth of information freely available to help employers and employees understand their workplace obligations and entitlements, there are no excuses for non‑compliance,” Ms Hannah said.

Throughout the campaign, Fair Work inspectors provided businesses with information, advice and resources to rectify any issues and ensure compliance in the future.

In one matter, the agency recovered a total of $5770.94 for two casual employees of an optometrist business who were paid a flat rate of $20 per hour for all hours worked. Under the Health Professionals and Support Services Award 2010 at the time, the workers were entitled to $24.86 per hour on weekdays and $34.81 on Saturdays.

The Fair Work Ombudsman issued the business with a compliance notice. The employer cooperated with the agency and rectified the underpayments under the terms of the notice.

The largest employing industry in Australia with more than 1.5 million workers, the Healthcare and Social Assistance industry is characterised by large numbers of small businesses and high levels of part time and low skilled employees.

The residential care services sector also employs a high proportion of female and migrant workers.

Between July 2010 and June 2015 the FWO received 180,000 enquiries relating to the industry on the Fair Work Infoline and over 5,700 requests for assistance. The agency has recovered $7 million for more than 5,000 employees since 2010.

Ms Hannah said that assisting businesses to understand their workplace obligations via proactive compliance and education activities was essential to promoting compliance amongst Australian workplaces.

However, with the agency conducting follow-up audits of businesses previously found to be non-compliant, Ms Hannah said repeat offenders can expect to face enforcement action including potential litigation and significant court penalties.

“I encourage all employers and employees to visit fairwork.gov.au and make use of the broad range of tools and resources available to help you understand your rights and obligations,” Ms Hannah said.

www.fairwork.gov.au

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Federal policies impacting cities

THE impact of Australian Government policies on the development of cities is opaque and may be resulting in unintended consequences according to the Planning Institute of Australia (PIA).

The PIA will recommend that the Australian Government evaluates the impact of its taxation, investment and immigration policies on the performance of cities when it appears before the House Standing Committee on Infrastructure, Transport and Cities during a public hearing on Monday.

The PIA believes that the Australian Government’s impact on cities is broader than those policies specifically targeting settlements. “Our members [have] highlighted the need for the Commonwealth to show clearer insight on how spending, taxation and immigration policy is having a real effect on the differential performance of our cities,” the Institute stated. “One commentator observed that the Commonwealth’s impact is ‘spatially blind’”.

The public hearing in Parramatta Town Hall is part of the Committee’s inquiry into the Australian Government’s role in the development of cities.

Committee Chair, John Alexander MP, said the Committee’s inquiry seeks to identify opportunities to refine Australian Government support for the development of smart cities.

“The Australian Government acknowledges the importance of cities as the engine room of the national economy and home to the majority of Australians,” Mr Alexander said.

“It has begun negotiating City Deals and launched a Smart Cities Plan identifying the opportunities and challenges facing Australian cities. But we think it could do more to prepare our cities to accommodate much larger populations and enhance the environmental sustainability of our settlements.”

 

Public hearing details:

10.10 am – 3.30 pm, Monday, 13 November 2017
Jubilee Room, Parramatta Town Hall, 182 Church St, Parramatta, NSW

10.10 am: Australian Nuclear Science and Technology Organisation (ANSTO)
​11.10 am: City of Parramatta
11.50 am: Association Professor Philip Laird
1.30 pm: The Warren Centre for Advanced Engineering Ltd
2.10 pm: Homelessness NSW
2.50 pm: Planning Institute of Australia
3.30 pm: Close

The proceedings will be broadcast live at aph.gov.au/live.

Further information on the inquiry, including the full terms of reference, is available on the Committee website.

Interested members of the public may wish to track the committee via the website

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Walkley Book Award finalists announced for 2017

THE WALKLEY Foundation today announced the shortlist for the Walkley Book Award, part of Australia’s most prestigious journalism accolades, the Walkley Awards for Excellence in Journalism.

The Walkley Foundation has thanked Media Super for its support on the Walkley Book Award. 

The Walkley Book Award celebrates Australian writers who take enduring subjects from news, eyewitness accounts, investigations and history. Their books bring readers immersive detail, clear analysis and new revelations.

More than 50 books were entered this year. Their subject matter ranged from true crime, politics, and war, to memoir and biography.

The 2017 Walkley Book Award shortlisted finalists announced today in Sydney are (in alphabetical order):

  • Julia Baird, Victoria: The Queen, HarperCollins Publishers
  • Steve Cannane, Fair Game: The Incredible Untold Story of Scientology in Australia, ABC Books/HarperCollins Publishers
  • Louise Milligan, Cardinal: The Rise and Fall of George Pell, Melbourne University Press

The judges for the 2017 book awards were:

  • Paul Bailey, editor, Australian Financial Review
  • Michael Bodey, media journalist and film editor
  • Kirstie Clements, journalist & author
  • Catriona Menzies-Pike, editor, Sydney Review of Books
  • Colleen Ryan, journalist & author
  • Susan Skelly, publisher, Excess All Areas
  • John van Tiggelen, journalist
  • Chris Warren, journalist
  • Pam Williams, journalist & author

The winner of the 2017 Walkley Book Award will be announced at the 62nd Walkley Awards for Excellence in Journalism on Wednesday November 29, at the Brisbane Convention and Exhibition Centre, thanks to the support of Tourism and Events Queensland. The ceremony will be broadcast live on the Sky News A-PAC channel and streamed on the Walkley website.

The awards will be broadcast live on the Sky News Public Affairs Channel, A-PAC (channel 648), from 8pm AEDT and live-streamed on walkleys.com and a-pac.tv

The full list of 2017 Walkley Awards finalists is here.

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IPA celebrates International Accountants Day

FRIDAY, November 10 is International Accountants Day and the Institute of Public Accountants (IPA) is spreading the word to celebrate the immense contribution that accountants around the globe make to society.

“We are very pleased to support the International Federation of Accountants (IFAC) initiative to celebrate the role of professional accountants,” said IPA chief executive officer, Andrew Conway.

“There are three million professional accountants around the world who make a significant and positive contribution to their respective local economies.

“The role of accountants as trusted advisers to clients is diverse and the societal impact they have must be respected. Together, they tackle corruption, expand economic growth and positively impact the quality of life for billions of people.

“Our current research is indicating that accountants play a vital role in the life of the small business owner; often in a position to help alleviate day-to-day stressors and improve their mental health status,” Mr Conway said.

 publicaccountants.org.au

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Five steps the Australian Government must take in wake of the Paradise Papers scandal - Oxfam

SCANDALS involving the super-rich robbing the world’s poorest of much-needed tax revenues, like those revealed in the Paradise Papers leak, can be avoided if the Australian Government and others take five immediate steps towards tax reform, Oxfam Australia said today.

International tax reforms have clearly failed, with new estimates suggesting that multinational companies artificially shift almost half of their total global profits – 45 percent – to tax havens.

Oxfam Australia Chief Executive Dr Helen Szoke said tax dodging by multinationals in Australia was costing Australia and developing countries billions of dollars, fuelling a global inequality crisis where just eight men have the same wealth as half the world.

“Australian-based multinationals are part of the problem, contributing to keeping the world’s poorest out of pocket as governments balance the budget by raising taxes on people and cutting vital public services,” Dr Szoke said.

Oxfam estimates billions of dollars’ worth of tax revenue is lost in Australia each year because of Australian-based multinationals using tax havens, and the Paradise Papers scandal comes just weeks after the Australian Taxation Office released data estimating multinationals avoided $2.5 billion in taxes in 2014-15.

Dr Szoke said the Paradise Papers – involving the leak of more than 13 million files – revealed the extent to which the super-rich were getting away with rorting the system to hide their wealth and avoid paying taxes in places like Australia.

The onus was now on the Australian Government, and other governments around the world, to do something about it, Dr Szoke said.

“Stopping the tax scandals is not impossible, if the political will is there. Oxfam’s five-point plan spells out exactly how governments can stop them,” Dr Szoke said.

Oxfam’s five-point plan to stop the scandals calls on the Australian Government to:

1. Agree a global blacklist of tax havens based on comprehensive, objective criteria and implement strong counter-measures including sanctions to limit their use.

2. End corporate tax secrecy by ensuring all multinational companies make financial reports publicly available for every country where they operate; and make extractives companies also report on a project by project basis.

3. End tax secrecy for the super-rich by establishing a centralized public register of the individuals who own and benefit from shell companies, trusts and foundations.

4. Rebalance tax deals by making sure tax treaties do not exploit developing countries tax bases.

5. Create a global tax body where all countries can work together on an equal footing to agree the fundamental tax reforms that are needed to ensure the tax system works for everyone.

“The Australian public deserves to have this information made available to them, and the government must put the interests of the public over the demands of the super-rich and big business. It is now time to act,” Dr Szoke said.

www.oxfam.org.au

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Select Committee on Regional Development to visit the top end

THE House Select Committee on Regional Development and Decentralisation will hold a public hearing in Darwin, Northern Territory.

The Chair of the Committee, Dr John McVeigh MP, said, “The Committee is keen to learn more about the issues of importance to the Northern Territory.  We’re particularly looking forward to hearing about infrastructure and the development of northern Australia.”

“The Northern Territory is home to many businesses and its largest industries are construction, mining, public administration and safety, health care and social assistance as well as transport. Darwin also has a significant Australian Defence Force presence, which also employs a large number of residents and the Committee will be very interested to hear how the regions are faring and what can be done to strengthen them”, said Dr McVeigh.

Dr McVeigh indicated that witnesses will include business and community leaders, indigenous representatives, representatives from the arts, local government representatives, and regional development experts.

 

Public hearing details:

9.00 am to 4.15 pm, Thursday 9 November 2017
Litchfield Room, Double Tree by Hilton, 116 Esplanade Darwin City

The proceedings will be broadcast live at aph.gov.au/live.

For the full program of this public hearing, see the Committee’s website.

Interested members of the public may wish to track the committee via the website

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The Future is Now: IIBA highlights business transformation

THE International Association of Business Analysis (IIBA) is shining a spotlight on business transformation at the 2017 Building Business Capability (BBC) Conference

From November 6-10, IIBA members are convening in Orlando, Florida for keynote speeches, tutorials, networking opportunities and a vendor exhibition.

IIBA members from around the world are meeting at the Loews Royal Pacific Resort in Orlando, Florida for the annual Building Business Capability Conference to explore the evolution of the industry.

Considered the world’s largest global gathering of business analysis (BA) professionals, this year’s conference offers a series of spotlight sessions focused on next generation business analysis led by industry veterans who will share their perspectives on how BAs can prepare their organizations to successfully address impending change and stay relevant. Attendees will also have access to tutorials, networking sessions, and a vendor exhibition.  

“We’re witnessing a digital transformation that is indeed evolving the traditional business analysis role. While fundamental skills are still important to possess, as dedicated BA professionals, we’re constantly being challenged to re-skill with higher level capabilities – that’s just the new business reality,” said IIBA CEO Ken Fulmer. “I look forward to welcoming my peers to BBC and hearing from our esteemed speakers on this subject.”

BAs operate under a variety of titles and are involved in many facets of an organization. However, they all work within the same strategic framework of Business Analysis.

Those attending the conference, and others who want to join in on the conversation, can do so by using the hashtag #BBCCon.

 About International Institute of Business Analysis

International Institute of Business Analysis (IIBA) is a professional association dedicated to helping the business analysis community create better business outcomes. Through a global network, IIBA connects more than 29,000 Members and more than 300 corporate members and 120 chapters. As the voice of the business analysis community, IIBA supports the recognition of the profession and discipline and works to maintain the global standard for the practice and certification.

Learn more about IIBA through the organization’s Facebook, LinkedIn and Twitter pages.

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New paper helps directors understand financial reporting obligations

A NEW guidance paper has been released to help directors better understand and meet their obligations when it comes to financial reporting.

The paper, called Directors Responsibilities for Financial Reporting: What You Need to Know, is designed to help directors avoid the pitfalls of financial reporting.

The work is a joint publication between Chartered Accountants Australia and New Zealand (CA ANZ) and ACCA (the Association of Chartered Certified Accountants).

Liz Stamford, CA ANZ’s General Manager, Policy, said it was an extremely important tool for directors working across the Asia-Pacific and Europe.

“Directors have a number of requirements. First and foremost, they have a duty of care and must give clear information about financial statements to investors and others,” Ms Stamford said.

“This paper is an easy to follow guide which helps answer a range of questions, including, who is responsible for reporting? What are those responsibilities? And when and how do you discharge those responsibilities?

“Our paper outlines what the duty of care means in practice, what’s needed in terms of keeping records, and the various responsibilities in line with preparing financial statements.

“We’re also looking at what must be done in terms of auditing those statements and providing guidance for overseeing internal controls.

“Directors have their own responsibilities and their own member bodies, but as this paper shows, we are playing a leading role in working with them so they better understand their requirements.”

Maggie McGhee, director of Professional Insights at ACCA, said it’s important for directors everywhere to take their responsibilities seriously.

“Not all directors need to be finance professionals, but it’s crucial that directors are engaged and are able to understand and explain the company’s financial reports,” Ms McGhee said.

“As well as important details on practice and process, this paper provides the questions directors need to be asking to make sure the financial reporting process is sound, and the output of that process provides meaningful information to investors and other users.

”It’s a helpful reminder to our members across the world, particularly entrepreneurs and those working in and for small and medium businesses, of this crucial aspect of corporate governance. This global overview of directors’ responsibilities at different stages of the financial reporting process will hopefully provide an opportunity to start a conversation in the boardroom about financial reporting, and corporate reporting in general.

“It provides guidance for members operating in Australia, New Zealand, Hong Kong, Malaysia, Singapore, and the UK.”

The strategic alliance between CA ANZ and ACCA has extended the global voice and reach of both organisations, and benefits to members.

“Together, we represent 800,000 accounting professionals from 181 countries around the world,” said Ms Stamford.

“That makes us one of the largest alliances in the world and gives us a powerful voice. This paper is one of the many ways we are providing new benefits to our members.”

Directors Responsibilities for Financial Reporting: What You Need to Know is available here:
http://www.accaglobal.com/us/en/professional-insights/global-profession/Directors-responsibilities-for-financial-reporting.html

 

About Chartered Accountants Australia and New Zealand

Chartered Accountants Australia and New Zealand is a professional body comprised of over 117,000 diverse, talented and financially astute members who utilise their skills every day to make a difference for businesses the world over. Members are known for their professional integrity, principled judgment, financial discipline and a forward-looking approach to business which contributes to the prosperity of our nations. 

www.charteredaccountantsanz.com

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. ACCA supports its 198,000 members and 486,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 101 offices and centres and more than 7,291 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers.

www.accaglobal.com

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First international financial intelligence Codeathon

THE first international Codeathon for financial intelligence units (FIUs) is being co-hosted by AUSTRAC, Australia’s financial intelligence unit and Bank Negara Malaysia from November 18 to 19 2017 in Kuala Lumpur, Malaysia.

The codeathon will bring together developers, designers, analysts, subject matter experts and other skilled and motivated individuals. Participants will form teams and have 32 hours to solve financial intelligence challenges. Their innovative solutions may be presented in various forms, including live applications, websites or prototypes which may well serve as precursors in constructing innovative digital solutions to fight terrorism financing.

Acting AUSTRAC CEO, Gavin McCairns, said AUSTRAC is encouraging participation from Australia’s growing fintech, regtech and start-up communities, financial institutions and FIUs in the region.

“This initiative provides a framework to work with industry and government to continuously explore new opportunities, where we can leverage the latest technologies to fight terrorism financing”.

”This unique event is an excellent opportunity for tech-savvy individuals, including hobbyists, students and software developers, to contribute their ideas to address a serious matter and enjoy some friendly competition at the same time”.

Codeathon 2017 is part of the third regional Counter-Terrorism Financing (CTF) Summit, which brings together FIUs, industry participants and leading anti-money laundering and CTF experts around the world.

There will be several prize categories which includes awarding the team that can demonstrate the most collaborative way to tackle terrorism financing – being true to the spirit of our CTF Summit.  Winners and outcomes will be announced at the Innovation Forum.

Registration for Codeathon 2017 is open to all members of the public, financial institutions and FIUs. Expressions of interest can be registered via the CTF Summit 2017 Codeathon website..

Follow @AUSTRAC on Twitter and the AUSTRAC website for the latest updates.

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60 Tourism Ministers and companies gather to discuss ‘overtourism’

MINISTERS of Tourism from 60 countries and leaders from private sector companies and associations will summon on November 7 at the Ministers Summit organized by the World Tourism Organization (UNWTO) and World Travel Market in London to discuss the challenges of sustainable tourism.

The 11th edition of the UNWTO/WTM Ministers’ Summit, to be held on November 7 under the title ‘Overtourism: growth is not the enemy; it is how we manage it,’ will address issues such as congestion management, the measurement of the impacts of tourism or the role of the private sector in promoting tourism as an effective tool to achieve the Sustainable Development Goals (SDGs).

As stated by UNWTO Secretary-General Taleb Rifai, “Growth is not the enemy. Growing numbers are not the enemy. Growth is the eternal story of mankind. Tourism growth can and should lead to economic prosperity, jobs and resources to fund environmental protection and cultural preservation, as well as community development and progress needs, which would otherwise not be available.”

The Summit will be moderated by CNN International’s Max Foster. Confirmed speakers include:

-       Mauricio Ventura Aragón, Minister of Tourism, Costa Rica

-       Elena Kountoura, Minister of Tourism, Greece

-       Ryoichi Matsuyama, President, Japan National Tourism Organization (JNTO)

-       Enrique de la Madrid, Secretary of Tourism, Mexico  

-     Khalid Jasim Al Midfa, Chairman, Sharjah Commerce and Tourism Development Authority (SCTDA), United Arab Emirates

-       John Glen, Minister of Arts Heritage and Tourism, United Kingdom

-       Istvan Ujhelyi, Vice-Chair of the Committee on Transport and Tourism, European Parliament

-       Gloria Guevara, President and CEO, World Travel & Tourism Council (WTTC)

-       Patrick Robinson, Head of Policy for EMEA, Airbnb

-       Inge Huijbrechts, Vice President Responsible Business, Carlson Rezidor Hotel Group

-       Kate Gibson, Vice President,Global Corporate Responsibility, Intercontinental Hotels Group (IHG)

-       Manfredi Lefebvre d’Ovidio, Chairman, Silversea Cruises

 

http://www2.unwto.org/unwto-wtm-ministers-summit-2017

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Ombusdsman calls for business bank model to be considered

THE Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has called for an Australian version of the British Business Bank to be considered.

Speaking at the Franchise Accountants Network conference in Sydney, Ombudsman Kate Carnell said access to finance was a major challenge for Australian small-medium enterprises.

“Banks are happy to lend to small businesses, but only if they have security such as property or cash,” Ms Carnell said.

“I’m concerned about SME lending constraints due to prudential requirements implemented after the Global Financial Crisis.

“The requirement for property security limits capital availability for small businesses with good cash flow and good prospects. Funding for many small businesses is unavailable at a reasonable cost.

“I’ve asked the Productivity Commission to explore the extent to which prudential risk weighting standards and capital requirements have had unintended consequences on lending to small businesses.”

Ms Carnell said the option of a Government-backed approach to small business lending like the British Business Bank should be considered.

“Other countries have identified a similar problem and come up with solutions,” she said.

“The British Business Bank can provide a government-backed 75 percent guarantee against the outstanding facility balance, potentially converting a ‘no’ credit decision from a lender to a ‘yes’.

 “The British Business Bank can also help small finance providers to tap institutional investors’ funds.

“Without a creative approach to small business lending in Australia we risk stifling growth, investment and employment.”

 www.asbfeo.gov.au

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