Remembering the IndividualBondBeebe
Posting by Phil Vivirito
When we conduct payroll audits for a pension fund I remind our auditors of an important aspect of the audit that I think many times gets overlooked, which is the individual employee. When we find an individual not being reported the payroll auditor is the one that begins the process to have this individual put into the pension fund. Other findings such as a new hire reported late or time work omitted can affect a person’s pension. These errors in reporting that an employer makes today, if go undetected may not come to light until many years in the future when the employee retires. As payroll auditors this is something we should think about every time we do an audit for a pension fund. It’s another important part of the payroll audit.