You are Finished with the Payroll Audits – Now What?

Posting by Kurt Needles, CPA

You have completed the audit sample, turned in the results to the fund office [i.e., the Third Party Administrator (TPA)] – now what?  How does the payroll audit program relate to the annual audit?  What procedures should you perform at the Plan level before you issue?  Following are my suggestions:

The Basics
Let me start with the basics.  Some clerks, not knowing what to do when they see a payroll audit, may “file” the report when it […]

July 18, 2011 Payroll Audit Read more...

Internet Access: Is Your Data Secure? (Part 3 of 3)

John Merchant, CPA, CFE

We have previously discussed wireless internet connections from hotels and stores and some of the things that you can do to protect your data.  But, what other steps can you take, even when accessing the Internet from your own home or business?

One of the greatest dangers you face when browsing the Internet and accessing sites that are unknown to you is from viruses and other malicious infections of your computer that are spread from malware sites.  […]

July 13, 2011 Accounting, Forensic Accounting Read more...

An Employee’s Revenge: The Perfect Reason for Implementing Strong Internal Computer Controls

Alex Helfand, ENCE, Computer Forensic Specialist

Most companies have adequate fair use policies and rules that govern how user accounts, and their related access rights, are handled upon termination of employment.  However, a recent news story should make companies more aware of the potential pitfalls of weak internal controls and encourage them to strengthen their security efforts.  According to The Baltimore Sun, it appears that a recently fired employee went to great lengths to exact revenge on his former employer […]

July 11, 2011 Accounting, Forensic Accounting Read more...

You Want to Hire a Firm to Do Payroll Audits? Here are the Questions to Ask

Posting by Larry Beebe, CPA

Let’s say the trustees of a Plan have decided to request proposals from firms to conduct payroll audits.  What questions should be asked of the payroll audit firms during the proposal process?

This list of 20 questions should be asked of every firm responding to the proposal.  Ideally, these questions should be asked during the proposal process and the firms should be asked to respond to each of the questions in writing.  Those firms selected to […]

July 5, 2011 Payroll Audit Read more...

Internet Access: Is Your Data Secure? (Part 2 of 3)

John Merchant, CPA, CFE

In Part I we discussed access to the Internet through wireless connections provided by hotels, libraries and stores.  While such access could subject your data to intrusion, leading to you becoming the victim of fraud, there are precautions that can be taken.

Make sure your Operating System software is up to date.  For instance, if you use Microsoft products, Microsoft is continually updating its Operating System software for your protection.  When breaches of security become known, […]

July 5, 2011 Accounting, Forensic Accounting Read more...

AUTO STANDARD MILEAGE RATES INCREASE JULY 1,2011

Jobe Dupre’, CPA

Due to increases in the price of fuel, the IRS announced today an increase in the optional standard mileage rates effective July 1,2011.  The new standard mileage rates are 55.5 cents per mile for business use of an automobile and 23.5 cents per mile for medical or moving.  The mileage rate for charitable miles is fixed by law and remains at 14 cents.

June 27, 2011 Accounting, Tax Read more...

Internet Access: Is Your Data Secure? (Part 1 of 3)

John Merchant, CPA, CFE

There seem to be almost endless opportunities to log on to the Internet when you are travelling or just going about your everyday life.  Most hotels offer internet connections and often you can log on from the local coffee shop or library.  Today, these connections tend to be wireless and that raises the basic question – when you access the Internet from one of these wireless sites, is your data secure?  This question needs to be […]

June 27, 2011 Accounting, Forensic Accounting, Human Resources Read more...

FOUR BUSINESS TRAVEL STRATEGIES THAT CAN YIELD PERSONAL SAVINGS

Jobe Dupre’, CPA

Here are four ways to make your required business travel a little less stressful:

Saturday night stay-overs:  Your out-of-town business chores conclude on Friday and you would like to extend your business trip to take advantage of a low-priced fare requiring a Saturday night stay-over.  The IRS says that if the savings in airfare are higher than the costs of the weekend meals and lodging, then you can deduct your Saturday meal and lodging expenses.

When a personal day […]

June 23, 2011 Accounting, Firm News & Events, Wealth Management Read more...

How to Pick a Sample for Construction Industry-Based Plans

Posting by Kurt Needles, CPA

About ten years ago, my firm was hired to be the payroll auditors for a construction industry-based group of Plans.  Their payroll audit procedures required a stratified sample of payroll audits performed over a four-year period.  We were given a list of all the contractors and their total contributions.  We sorted it, large to small, and picked every fourth company for year one, the second for year two, etc.  This seemed logical and simple but, […]

June 23, 2011 Payroll Audit Read more...

Major Cases Helped by Digital Forensics: The Casey Anthony Trial

Alex Helfand, ENCE, Computer Forensic Specialist

One of the most publicized cases in a long time, the Casey Anthony trial has involved a variety of expert witnesses.  Last week the prosecution called for the testimony of a computer forensic expert who had examined a hard drive related to the case.

Up to this point, the case had not had any significant breakthroughs and most of the evidence was circumstantial.  The examiner was facing a tough problem and the defense was ready […]

June 20, 2011 Accounting, Forensic Accounting Read more...