Important Changes To Whistleblower Legislation
On 20 February 2019, The Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 was passed by the House of Representatives and became law on 1 July 2019. It provides further whistleblower protection amendments to the Corporations Act.
Public companies and large business must have a Whistleblower Policy by 1 January 2020
Amendments now create further protection for Whistleblowers, whether anonymous or not, their family members and suppliers.
There are significant fines associated with noncompliance, including compensation for detrimental conduct towards Whistleblowers.
Benefits of a Whistle Blower Service include:
- The visible and demonstrable presence of the service, including staff education and signage, deters unlawful conduct, and reduces business loss and claims;
- Satisfies the relevant requirements of the Australian Stock Exchange’s “Principles of Good Governance and Best Practice Recommendations”:
- Is a step towards satisfying “Directors Duties” regarding PART 9.4AAA CORPORATIONS ACT -PROTECTION FOR WHISTLEBLOWERS:
- Compliance with Standards Australia’s AS 8001 – 2008 “Fraud and Corruption Control” and AS 8004 – 2003 “Whistle-blower Protection Programs for Entities”:
- Supports and satisfies the relevant requirements of all State Work-Place Health & Safety Acts, Whistle-blower legislation and organization standards;
- Clients report a substantial reduction of occupational fraud, stock theft (up to 38%), misconduct, non-compliance and unsafe work practices;
- Increased levels of confidentiality and security for concerned employees:
- Providers Independently work for Senior Management, reducing interference or corruption of the reporting process;
- The ability to internally address reported matters promptly and effectively:
- A reduction in potential prosecution by Law Enforcement for non-compliance, and increased protection against litigation and other claims:
- All Stakeholders of the entity’s recognize commitment to good corporate governance:
Complete Corporate Services provides Whistle-blower services to its clients via its Confidential Staff Line
Through many years of experience we clearly identify that often your own staff:
- Know what is going on in your business;
- Are keen to ensure that other staff do the right thing
It is however important to give staff the freedom of reporting issues, whilst ensuring their protection and employment status. It is also important that staff who do the right thing and report issues, have confidence in an independent process.
Types of disclosures made, are very wide ranging but could be grouped to include:
- Theft & Fraud;
- Worker Compensation Fraud;
- Fraudulent Sick Leave;
- Safety Concerns;
- Breaches of Policy & Procedure;
- Bully & Harassment in the workplace;
- Drug Use & Distribution;
- Secret Commissions or kickbacks;
- Theft of Intellectual Property.
You quickly receive intelligence which;
- Substantially reduces loss; and
- Stops problems before they occur.
Why trust Complete Corporate Services with this sensitive task? CCS Staff:
- Are experienced in intelligence gathering and analysis, investigation and risk management;
- Are independent. Staff can be confident they won’t be identified or their disclosure ‘covered up’ through internal corruption at management levels;
- The strategy, provides you, with a greater level of intelligence about your organization;
- The entire process is very easy to implement, without further use of your resources.
Gold Coast: Suite 3/50 Davenport St, Southport QLD 4215
Brisbane: Level 38, 71 Eagle Street, Brisbane QLD 4000
Ipswich: Suite 3/59 Roderick St, Ipswich QLD 4305
Sydney: 3 Hay Street, Leichardt NSW 2040
Victoria: PO Box 1244, Warragul VIC 3820
Mackay: PO Box 3151, Mackay North QLD 4740
FIJI Queens Road, Martintar, Nadi.
INDONESIA Jl. Taman Flamboyan Utara IV No. 43 Pedurungan, Semarang Jawa Tengah 50192. See
Corporate Security Firm (Class 1) License: 4064644
Corporate Field Agent License: 4041963
Member: National Security Association of Australia (Qld) Inc
ABN: 25 613 277 688