How to Prepare for your Audit

Being prepared for your Workers Compensation Audit is not something to think about right before your Audit is scheduled, but something to plan for in advance. The information below is generally requested at the time of your physical Workers Compensation Audit. Having these records well organized throughout the year reducing the hassle of preparing for the Audit and simplifies the process.

Payroll Records:

• Payroll Journal and Summary
• Your Check Book, if the only way you keep records
• Federal Tax Reports (941’s that cover the policy period)
• State Unemployment Reports and Individual Earnings Records
• All Overtime Payments Shown Individually

Employee Records:

• Detailed explanation of each employees job duties
• Number of Employees
• Hours, Days, or Weeks Worked Annually

Cash Disbursements:

• Payments to Subcontractors 
• Cost for Materials
• Casual Labor

Certificates of Insurance

• For All Subcontractors
• For All Independent Contractors

A description of your business operations

• What services or products you provide
• What clientele you target
• The proximity of you work