How do third-party compliance audits work?
WTT Consulting’s approach consists of a comprehensive three-step process, designed to remove any element of risk by ensuring that all tax liabilities and contractor entitlements are correctly calculated and paid. This process is repeated every month to guarantee continued compliance.
- 1. WTT Consulting first conducts an audit of all payments made to employees via The Apex, making sure that income tax and NICs have been correctly deducted and that holiday pay entitlements have been correctly calculated and recorded.
- 2. These deductions are then reconciled against both the corresponding HMRC RTI submissions and Orca Pay Group’s company bank account to ensure that there are no discrepancies.
- 3. Once these steps have been completed, WTT Consulting publishes a monthly compliance statement confirming that all payments made by Orca Pay Group satisfy its stringent compliance framework.
For recruiters and hiring firms, this rigorous process removes any element of doubt that their tax risk is removed, paving the way for continued, compliant engagements.
Find out more about how our third-party compliance audit can safeguard your supply chain by booking a free, no-obligation demo of The Apex using the link below.