Premium Audit: Records Maintenance

Records that are accurate and properly maintained allow us to conduct an accurate audit within the minimal amount of your time. To perform a comprehensive and quality audit, the records should be made available:


  1. A description of your company’s operations. What is your product or service? What are your raw materials? How is the product marketed? How is the product transported?
  2. List of corporate officers.
  3. Number of employees.
  4. Names of subcontractors or casual labor hired and the amounts paid to them.
  5. Certificates of insurance for subcontractors.


  1. Gross payroll with monthly and quarterly or year-to-date totals by employee and by department
  2. The type of work performed and job duties by each person must be shown. This includes officers, members, sole proprietors, and partners. 
  3. Overtime: Must be separated with monthly and quarterly or year-to-date totals by employee and by department. If overtime is not shown separately, a credit for the premium portion cannot be given. 
  4. Tips: Must be separated with monthly and quarterly totals by employee. Tips must be shown separately to qualify as a deduction from gross pay. 
  5. Verification: 941’s, 940, W-3, Unemployment Tax Reports, or Schedule C must be provided to verify total wages. You may also want to assist the auditor by highlighting pre-tax wages that will be subject to premium.


  1. Gross revenue by location for manufacturing and retail operations. 
  2. Verification source such as your Income Statement, General Ledger, or Sales Tax Returns.


  1. Hire and termination dates of each employee.
  2. Exact job duties of each employee.

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