An audit is a process that reviews your financial and payroll records at the end of your workers compensation coverage period. The purpose is to ensure your premium reflects your actual payroll amount.
When it’s time for your annual audit, your Premium Consultant will ask you to prepare several documents that reflect your business operations. You can begin preparing for your audit as soon as your coverage begins. Good record-keeping throughout your policy term can save your business time and money during the audit process.
For a helping hand with your audit preparations, view our New Audit Checklist for a more detailed list of audit documents that may be required.
Questions? View our Audit FAQs or contact Premium Consultation at premiumconsult@mem-ins.com.