We conduct payroll audits for 30+ different trade groups and perform over 100 engagements per year. We have three payroll auditors and all other staff members with years of experience. This staffing ability enables us to not only perform the routine payroll audits for our clients, but gives us the flexibility to respond to the needs of the Trustees in special cases (delinquencies, bankruptcies, etc.). Our payroll auditors have dealt with a wide range of issues; different types of agreements and the intricacies that each entail. We have also worked closely with Legal Counsel on many issues and several auditors have been through depositions and testified in court proceedings.
We perform payroll audits for several funds in which we are not the annual auditors, traveling all over the United States. We also coordinate with several large national pension funds to perform payroll audits throughout the country. They use us as the “go to” auditor when they have contractors with urgent issues and/or no competent auditors in the region.
Each payroll audit is performed using an internally developed, custom audit program in accordance with the audit guide for Employee Benefit Plans. Each audit is entered on our Excel template according to information from your Trust documents. The template calculates contributions, interest (by the exact number of days late) and liquidated damages due by month for the entire audit period. The format of the completed audit allows for easy and accurate data input by the administrative office for any discrepancies found. Over-reported hours are scheduled separately from under-reported hours. These are scheduled separately because the Trustees may wish to limit refunds on over-reported hours due to eligibility issues and ERISA refund limits. Interest updates for legal counsel are done simply, quickly and can be scanned and emailed immediately.
We now recommend that the Plan audit stratify all employers by total contributions paid into a four year cycle. This can be modified as the employers change but we will follow any procedures designated by the Board. If the Board has other policies, we will follow them.
