Hiring a Payroll Audit Firm, Question 2: How Many Audits Do You Perform?BondBeebe
Posting by Larry Beebe, CPA
s part of this series, I am providing Plan Trustees with a list of questions they should ask when requesting proposals from payroll auditing firms. Click here to view the full list of questions.
Question 2: How many audits do you perform annually?
A firm that performs a large number of audits annually has the ability to complete audits in a given geographic area for many of its clients at the same time. This saves time and money for each of its payroll audit clients.
A firm performing many audits is likely to understand how payroll audits are done better than a firm that just performs a few audits each year. Payroll audit firms learn from their experiences. What they learn on a given audit is likely to benefit a future payroll audit.
A firm doing a large number of audits should be efficient in terms of fees charged; their overhead is shared by more audits. The larger payroll audit firms can also afford to spend more money on automated functions, which should also streamline operations and reduce costs.
For more in this series, see: