Why do I need an audit?

Audits determine if the payroll and class codes quoted at the beginning of a plan year correctly reflect the actual payroll and scope of work that was conducted during the plan year. A work comp audit examines the books to determine the accuracy of the estimated policy premium. A year-end audit is really a verification of the exposure of a member to determine the final premium to be charged since the original is based on estimated payroll only. Depending on the outcome, you may receive a refund or owe additional premium. To assist with keeping your payroll as accurate as possible, you may contact us to adjust your payrolls throughout the year and the change will be reflected in your next regularly scheduled invoice.

To expedite your audit and ensure a smooth process, please be sure the audit contact is someone who is familiar with the roles and responsibilities of each employee and can produce the following documents:

• Payroll records
• Employee records
• Certificates of Insurance
• Detailed description of the nature of your business operations