Hiring a Payroll Auditing Firm, Question 15: Should we Have a Three or Four Year Cycle to Audit all Employers?BondBeebe
Posting by Larry Beebe, CPA
There is no requirement by the U.S. Department of Labor or any other regulator that all employers be subject to payroll audits over a fixed number of years. If a plan has a small number of employers, auditing each employer within a cycle probably makes sense.
There are good reasons, however, to vary the number of years between payroll audits for a given employer. We will discuss that in our next blog.
For more in this series, see:
- Question 14: Should Payroll Audits for all Employers be Random or Should They all be “for Cause” Audits?
- Question 13: What is the Typical Time Between the Assignment of a Payroll Audit to the Auditor, and it’s Performance and Delivery of the Audit Report?
- Question 12: Do you Charge for Travel Time?
- Question 11: Will we Receive Progress Reports?
- Question 10: Do you Change a Flat-Rate Fee per audit or an Hourly Rate?
- Question 9: Have you Done Payroll Audits for our Industry or Similar Industries?
- Question 8: Do you Have a Dedicated Payroll Audit Staff?
- Question 7: What are the Qualifications of Your Payroll Audit Staff?
- Question 6: How Long Does Your Typical Audit Take?
- Question 5: Do You Audit All Employees %100 or Do You Test Employees?
- Question 4: What is the Relationship Between Your Audit Findings and Your Audit Costs?
- Question 3: How Many of Your Payroll Audits do you Perform?
- Question 2: How Many Audits do you Perform?
- Question 1: How Many Years Have you Been Doing Payroll Audits?