Jewellery chain Michael Hill will repay its retail staff up to $25 million in wages.
The move comes after finding errors in its application of the retail award, revealing between $10 million to $25 million in underpayments over six financial years.
Michael Hill has now commenced a detailed review of all employee records, rostering practices and payments. This could take up to several months to investigate.
The review was first commissioned by new CEO Daniel Bracken.
Bracken worked with PriceWaterhouseCoopers to conduct the audit across its 300 stores and 2,600 staff.
"We will move as quickly as possible to rectify any underpayments with those team members affected," Bracken said.
"I will be in contact with all team members today to apologise on behalf of the company and to provide an outline of the process we are following to establish who is impacted.