We can act as the link between your business and your employees for the reporting of fraud & unacceptable behaviour in the workplace.
Our Whistleblower hotline service provides a cost-effective solution that ensures your business:
- follows good governance principles; and
- is compliant with the Australian Whistleblower laws that came into effect on 1st July 2019.
Lodestar Legal can provide an independent and external whistleblowing hotline service that meets the functional & compliance needs of your organisation, which is easy for your employees to use.
The Hotline provides an alternative reporting mechanism for employees who have challenges with reporting directly to their employer, or wish to remain anonymous when they report. These are necessary components in an effective corporate governance program.
Our Whistleblower hotline service provides a solution that ensures your business is compliant with the new Whistleblower law, which came into effect on 1st July 2019.
Our cost-effective programs are suited to organisations of all sizes. We used trained personnel to ensure that vital information is obtained and that callers experience the sensitivity and professionalism they expect.
New Whistleblower Law
New Whistleblower laws came into effect on 1st July 2019 and require that all corporate, financial and credit sectors as well as ‘Regulated Entities’ comply with the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019.
Who does the legislation apply to?
‘Regulated Entities’ will be required to have a Whistleblower policy and an external Whistleblower hotline in place by 31st December 2019.
Regulated Entities are:
- public companies; and
- large private companies who have at least two of the following criteria –
- Have more than 50 employees within the company and the entities it controls
- Consolidated revenue of at least $25 million
- Consolidated gross assets of at least $12.5 million
When do you need to be compliant?
The date for compliance is 1st January 2020.
What do I need to do?
Create and apply a Whistleblower policy and implement an external Whistleblower hotline.
How do I put these 2 requirements in place?
Contact us and we will work with you efficiently and cost effectively to:
- Develop a Whistleblower policy or update your existing policy to comply with the legislation; and
- Implement an external Whistleblower hotline (including implementation/training tools).
Are the Whistleblower requirements only relevant to Regulated Entities?
No. While not covered by the legislation, it is good corporate governance for all companies (large and small) to have a Whistleblower Policy, and a process for handing whistleblowing. It is particularly important for companies that tender for and do government work.
Give us a call and we’ll help you develop something relevant to your business.
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