Payroll is an essential business function for employers of all sizes. However, managing payroll successfully takes time, expertise, and the ability to stay compliant — hence the need for a compliance advocate.
A compliance advocate hunkers down with you to find the ideal payroll solutions for your business. It serves as your anchor — revealing your blind spots to steer you on the straight and narrow. This compliance advocate comes in the form of a payroll audit.
- Not paying salary as required by law.
- Not following overtime rules.
- Improperly administering payroll for nationals and expatriates.
- Not adhering to data privacy laws.
- Not obeying employee leave and pension regulations.
- Not complying with laws surrounding WPS, ESOB, PASI, and GOSI.
- Incorrectly calculating termination pay.
And a whole lot more.
The bottom line is that you can face harsh consequences for violating payroll laws in your Middle Eastern region.
To err is human. Therefore, payroll blunders are a real possibility. The trick is to keep errors to a minimum by mobilizing your compliance advocate — aka payroll audit. This enables you to promptly catch and fix payroll mistakes.
Generally, employers should perform payroll audits at least once or twice per year. Payroll audits are even more critical if:
- You’re not up to speed on your payroll responsibilities.
- Your payroll has gotten more multifaceted.
- Your payroll system is struggling to keep up with your growing business needs.
- Your payroll hasn’t been evaluated by an impartial professional in years.
- You’re considering (or went through) a Merger & Acquisition and a payroll audit may be necessary.
- Your payroll process demands full optimization.
- Your payroll is susceptible to leaks, fraud, or theft.
- You have been cited for payroll noncompliance by an external audit.
- Your payroll structure has changed due to WFH.
- You’re concerned about data security and related laws, such as the GDPR.
A payroll audit scrutinizes your payroll practices to detect existing and potential areas of noncompliance. It also helps you identify payroll best practices, establish payroll internal controls, and maintain up-to-date financial records.
You can have a competent member of your staff conduct your payroll audits. Or, you may team up with a reputable third party — such as OPS — who can carry out an objective, unbiased, and thorough audit of your company’s payroll.
We will assess your:
- Payroll system, policies, procedures, and transactions.
- Payroll internal controls, including existing and potential weaknesses.
- Statutory obligations and how they’re being met.
- Payroll policies implemented at the company level, including voluntary benefits.
- Payroll responsibility matrix, separation of duties, and authorizations.
- Security of your payroll data.
- Payroll documentation practices.
Our goal is to keep your payroll engine running smoothly and on safe legal ground. Everything a compliance advocate is meant to do.
So, let’s make it happen!