Workers Compensation Services

Wage Audit Reviews has been established to provide specialised services to employers and their advisors to ensure that their Workers Compensation obligations are met, premium calculations are accurate and exposure to penalties is minimised.

The company's consultants have in excess of 50 years combined experience in Workers Compensation wage audits, consulting, claims and premium management. The company provides specialist services to businesses and business advisors in relation to all aspects of Workers Compensation including:

• Pre wage audit reviews and attending wage audits with the client
• Post wage audit reviews
• Review of actual wages submitted when no audit is pending
• Preparation and submission of actual and estimated wage declarations
• Review of business classification (WICS code)
• Review of claims and claims costs
• Review of Insurer premium calculations
• Advising of premiums adjustments for the audit period and future premiums
• Cross Border issues
• Grouping issues
• Premium funding
• Appeals to WorkCover.

Every employer in NSW is required to have a Workers Compensation policy. At present, there is limited advice available to employers and their advisors in the ever-changing Workers Compensation landscape. Employers face an ever changing range of complex compliance issues. This places an increasing burden upon both the employer and its advisers.

Employers currently turn to accountants for advise and the preparation of wages declarations and wage audits. In many instances, the accountant does not have the time or resources to provide this specialist service to their clients.

WorkCover is continuing to expand and refine its wage audit program. They are reviewing entities from sole traders and small private companies to large public companies.

In excess of 10,000 employers will be audited each year. All employers will be audited at some stage.

Our aim is to provide the employer and their advisers with a highly skilled service that adds real value to their business by way of:

• Ensuring correct and accurate calculation of assessable remuneration
• Review of the status of payments to contractors
• Ensuring all required information for a wage audit is available
• Improving cash flow through premium funding
• Implementing more efficient procedures and systems for workers compensation
• Regular claims cost reviews
• Empowering employers with a better understanding of Workers Compensation