Centrepay compliance audits and assurance checks

Why we do compliance audits

These audits happen for many reasons, such as any of the following:

• complaints or feedback from customers or the public
• issues found in data analysis or other information
• concerns raised by third parties or regulators
• findings from our assurance checks
• tip-offs
• emerging risks identified.

Why we do assurance checks

We do assurance checks of Centrepay businesses relating to Centrepay information, systems and practices.

These checks help us:

• quickly identify issues or concerns in the ways businesses use Centrepay
• understand if a Centrepay business needs help or support to meet their obligations
• identify if more in-depth compliance audits are needed and what those audits should focus on.

Where we find concerns, we’ll start a compliance audit on a business or several businesses to ensure they are doing the right thing.

What we ask for in our compliance audits and assurance checks

If we contact a Centrepay business for a compliance audit, they must assist us. If they don’t, we may suspend or terminate their use of Centrepay.

When we contact a Centrepay business for a compliance audit or an assurance check we’ll ask for details and evidence.

We may check for any of the following:

• the name and legal entity, including the ABN, ACN, ABR and registration status
• any registration or licensing requirements
• license expiry or renewal dates and changes to their license
• the Directors, Trustees and other management control personnel
• the Authorised Officers and Contact Officers
• use of our Centrepay systems for businesses
• the deduction authority form being used by the business.

We may also check the following:

• the goods or services being provided to Centrepay customers
• the reconciliation of Centrepay statements and deductions
• if the business is charging customers a fee to use Centrepay
• the records held by the business including the accuracy of those records
• how the business is meeting any relevant privacy or legislative requirements
• if the business is being investigated or had adverse findings against it, including in the past
• any other details or issues related to its use of Centrepay, including media reporting.

Businesses are expected to fully assist in the audit process. A business must provide the information and evidence that we ask for within the timeframes we set.

We’ll send a notice to the business requesting details and arrange an interview with the Authorised Officer.

We’ll assess the business’ practices and details it provides in response to the notice and interview against the Centrepay Terms of Use and the Policy for Businesses.

This includes identifying any issues that may indicate non-compliance.

A business can at any time voluntarily withdraw from Centrepay if it can’t meet the required obligations and expectations.

What happens after a compliance audit or an assurance check

We’ll discuss our findings with the business and decide what action may be needed.

If we don’t identify any concerns, we’ll finalise the audit and advise the business it was found to be compliant.

If we find minor concerns, we expect businesses to work with us to fix the problem as quickly as possible. Where concerns can be fixed we’ll finalise the audit, record the findings and advise the business of the outcome.

If serious concerns are identified or we can’t work with a business to fix a problem, we may:

• place additional conditions on the business’s continuing access to Centrepay
• partially suspend the business’s use of Centrepay which stops it from starting new deductions or increasing the value of any existing deductions
• fully suspend the business’s use of Centrepay which stops all deductions being paid to the business
• terminate the business’s use of Centrepay so it cannot use Centrepay
• refer the matter to either regulators or law enforcement.

If we suspend or terminate a business, it must notify and assist its customers to make other payment arrangements. We can also help customers understand what this means and how they can get help to manage their money.

Suspended and terminated businesses

We may publish details of any businesses that have their access to Centrepay suspended or terminated.

Where a matter is already in the public domain or it is in the public interest to do so, we may also make a public statement about this.

Referrals to regulators

We work closely with Commonwealth, State and Territory agencies and regulators to ensure Centrepay businesses are doing the right thing.

If we identify any regulatory concerns, we may share information with regulators to support their activities. They may also share information with us if they identify any concerns about the use of Centrepay.

We expect Centrepay businesses to tell us if they are under investigation by a regulator and to tell us if they have any adverse findings made against them, even when it’s not about Centrepay.

Our key partners include:

• Australian Securities and Investments Commission
• Australian Energy Regulator
• Australian Competition and Consumer Commission.