Australian Competition and Consumer Commission (ACCC) targeting franchises
Written on the 30 May 2014 by Macmillans Waller Fry - Accountants in Maitland
The Australian Competition and Consumer Commission (ACCC) announced late last year that it would begin targeting franchises in the Health and Fitness and Takeaway Food industries.
A new round of audits will be performed on these businesses to ensure that the franchisors are complying with the Franchising Code of Conduct.
The ACCC will be using their audit powers to request that business owners provide information or documents that franchisors are required to either keep, generate or publish.
It is important that franchisors of all industries- not just Health and Fitness and Takeaway Food, review their compliance with the Franchising Code of Conduct.
The ACCC has the power to audit any documents required to be generated under the Franchising Code, such as disclosure statements, marketing statements and franchise agreements.
When an audit begins franchisors will be required to immediately produce these documents.
The audit is currently focused on the Health and Fitness and Takeaway Food industries as these industries received the highest number of franchise-related complaints in 2012-13.
The two major complaints that the ACCC received were related to disclosure and false representation.
Author: Macmillans Waller Fry - Accountants in Maitland
|With countless emails flooding your customer’s inboxes daily, it can seem like an insurmountable task just to get them to open yours. Unless your email marketing is being handled smartly and creatively, it could go unnoticed and unread. Email marketing is the act of sending promotional materi...|
|Gender gaps can affect superannuation accounts as much as they can affect salary rates. With barriers to entering into fields, lower hourly rates of pay, less hours worked and more unpaid labour affecting the amount of super Australian women are retiring with, as compared to men. Currently, the m...|