A payroll audit (also known as a payroll compliance audit or employer compliance reporting) is designed to determine whether an employer is remitting contributions to employee benefit plans in compliance with its collective bargaining or participation agreements, or other related agreements.
We are committed to a quality program.
Employer contributions are the primary source of revenue for most employee benefit plans. Overpayments or underpayments can result from misinterpretations of the agreements that spell out specific contribution requirements.
We focus on providing clients with a payroll audit program that will do more than just satisfy the requirements of the Employee Retirement Income Security Act of 1974 (ERISA); it helps boards fulfill their fiduciary responsibilities. If there is a problem with how the employer is reporting, we aim to find it, efficiently. We maintain a permanent, full-time team of professionals who specialize in auditing employers’ benefit plan contributions to ascertain compliance with governing agreements. The substantial resources we devote to our payroll audit practice and the volume of compliance audits we perform enable us to identify payment irregularities.
Are Payroll Audits technically “audits”?
No. The term “Payroll Audits” simply became the popular shorthand for employer compliance reporting. Financial statement audits follow a distinct set of standards, which do not apply to payroll audits. Payroll audits are performed as consulting services.
Do you work for the union?
No. We are an independent CPA firm. We are engaged to provide services to employee benefit plans by their governing boards.
Are you the administrator of the plan?
No. We work with plan administrators to gather the information necessary to perform our payroll audits.