GLOBAL PAYROLL MAGAZINE
49
External consultants and your own research, on the internet, are needed. Become self-empowered to look for things that could come your way. The GPA news alerts and other legal alert sources are helpful. Sure, eight out of 10 times the news is not relevant, but for the two times it is relevant, I’m ahead of the curve. You need to be naturally curious to figure out if there is something that you may be missing. With the power of the internet, especially with AI, it’s at your fingertips, so you do not have to wait. “You need to be naturally curious to figure out if there is something that you may be missing. With the power of the internet, especially with AI, it’s at your fingertips, so you do not have to wait.”
Then we have post-payroll audits that compare against the larger balance sheets that need to be signed off on. For example, there are equity payouts with taxes. If you miss a payment or equity file, the balance sheet should show somewhere that something was missed. You can’t have enough controls to make sure that you haven’t missed anything, and you can’t put this all on the person who has to process the payroll because they wear so many hats. You need somebody who is independent, not stressed by payroll timelines, who has the time to dive deep and sit down with Finance and ask the difficult questions but also can work with payroll operations to resolve issues; it is an independent group of auditing. GPA: What outside support or resources do you most rely on to stay compliant each pay cycle? Annemarie: Your initial resource is your payroll vendor. But, the reality is that not every vendor is as good at sharing updates, some are not that strong.
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