Companies bill warning

AUSTRALIA’S largest companies will be audited to check they are paying bills within 30 days, to stop powerless small businesses collapsing while waiting to be paid.

As major companies face accusations of extortion for refusing to pay bills for up to three months, The Business Council of Australia will today introduce a new code of conduct for big business to pay in 30 days – with payment times transparent and public.

The Business Council of Australia will audit the companies every three months, to ensure they pay bills on time.