MEDIA RELEASE (NZ)

“We’ve been pushing for mandatory reporting for large employers over the last five years because it is a powerful tool for highlighting gender pay gaps and a critical step to ensure women are not disadvantaged over the course of their careers,’ said Mr Vial.

“Pay gap reporting helps organisations better understand their workforce, supports informed decision-making and stronger accountability, and contributes to a more productive and equitable economy.

“Given our profession’s expertise in reporting, we would welcome an opportunity to help the government develop a mandatory reporting framework that is simple and effective.

“As a Trans-Tasman organisation, CA ANZ can see the benefits of mandatory gender pay gap reporting in Australia, where the pay gap is lower in in the accounting profession.

“As we highlighted to Parliament’s Education and Workforce Select Committee in 2021, a consistent framework and mandatory reporting for large employers remove any argument about how the gap is calculated and enable regular comparison and benchmarking.

The latest CA ANZ Remuneration Survey shows that the gender pay gap for the accounting profession, calculated by total median remuneration, is 24% in New Zealand, compared to 14% in Australia.

“It’s important that the compliance burden imposed on employers by mandatory reporting is not excessive. A simple and effective mandatory reporting framework is achievable and will ensure the balance is right”, concluded Mr Vial.