Workers Comp Audit Workpapers =Premium Auditors Paper Trail
The Workers Comp Audit Workpapers are the auditor’s complete calculations that were created during the audit. They are very important to understand what calculations, payroll, and other information were used to produce the final calculations on the policy.
If you receive an audit billing, you can trace back to see the audit trail of the auditor. Some of the audit workpapers can be very complicated. Most audit workpapers are computer generated. There are a few workers comp auditors or audit companies that may still use paper forms to perform audits. There will very likely only be computer based audits very soon as this allows the auditor to share their findings much more easily.
We recommend NEVER paying a bill unless you fully understand the workers comp audit results. If you do not, the audit workpapers can sometimes easily point out how the bill was calculated. As I have said many times in this blog, the policy, policy audit, and anything to do with your Workers Comp policy should all be available to you as it is your Workers Comp policy that you are paying for with your company’s hard-earned money.
Most auditors will leave a copy of their audit workpapers with the employers when they do the audit. It may be a good idea to ask the workers comp auditor for a copy of their workpapers while they are performing the audit.
©J&L Risk Management Inc Copyright Notice