Found another mistake today on a workers compensation premium audit.
We have an employer in the Chicago area whose audit was processed incorrectly. Even though we helped prepare the audit - somewhere in process of getting the detail to the independent auditor, the auditor to the company, the company to the premium audit processor... something was missed. The owner of the company was placed in the wrong workers compensation classification causing a $3,500 mistake.
Make sure you prepare an audit package before the auditor shows up at your door. This helps determine the accuracy of a work comp premium audit when the final results are received.
The reason so many mistakes are made on a work comp program....