Serving My Clients for Over 35 Years
I limit My practice to the audits of Unions and Employee Benefit Plans.
There are CPA’s on staff, Kurt Needles, Randy Eck, Tosin Oyewo, and Nolan Royle. Alma Vazquez specializes in the area of “data mining” pension payments, welfare claims, and participant data. Nolan Royle specializes in detailed pension file reviews.
Since Multiemployer Employee Benefit Plans are the main focus of My business, all members of My firm have performed some aspect of an employer benefit plan audit. Most CPAs have completed a Multiemployer Employee Benefit Plan audit and attend the AICPA Employee Benefit Plans Conference, the AICPA Employee Benefit Plans Update Conference, the IFEBP Annual Conference, and the IFEBP Plan Professionals Conference. The majority of CPE is taken in the field of employer benefit plan and audit.
All licensed professionals are member of the American Institute of Certified Public Accountant (AICPA), the Colorado Society of Certified Public Account, as well as the AICPA Employee Benefit Audit Quality Centers which provides member with additional information and practice aid for unique market. My firm has been a member of the Audit Quality Centers since its inceptions.
In order to provide increased value to My clients and perform useful, My employees utilize a Data Extraction Softwares. My employees' process of data minings for Health and Pension Plan entails extracting multiple datas.
Payroll AuditsSee an Example of our Payroll Audit
My employees conduct payroll audits (commonly referred to as “payroll audits”) for diﬀerent trade groups each year. I have full time payroll auditor and other staﬀ member with experience doing payroll audit.
My ﬁrm has a lot of year of payroll auditing experience. This staﬃng ability enable Me to not only perform the routine payroll audit for My client, but gives Me the ﬂexibility to respond to the need of the Trustees in special case (delinquencies, bankruptcies, etc.). My payroll auditor have dealt with varying type and size of Local and varying type and size of agreement. I have also worked closely with Legal Counsel on many issue and I have been through deposition and testiﬁed in court proceeding.
I perform payroll audits for several funds in which we are not the annual auditors, traveling all over the United States. We also coordinate with a large national pension fund to perform payroll audits throughout the country. They use Me as the "go to" auditor when they have contractors with urgent issues.
Each payroll audit is performed using an internally developed, custom audit program in accordance with the audit guide for Employee Beneﬁt Plans. Each audit is entered on an excel template according to information from your Trust documents. The template calculates contributions, interest (by the exact number of days late) and liquidated damages due by month and for the entire audit period. The format of the completed audit allows for easy and accurate data input by the administrative oﬃce for any discrepancies found. Over-reported hours are scheduled separately from under-reported hours. These are scheduled separately because the Trustees may wish to limit refunds on over-reported hours due to eligibility issues and ERISA refund limits. Interest updates for legal counsel are done simply, quickly and can be scanned and emailed immediately.
The audit program can be modiﬁed for any additional procedures that the Trustees deem necessary. After the ﬁeldwork has been completed, we send the list of preliminary discrepancies to the employer for review prior to submission to the administrator. This ensures that any issues identiﬁed have been resolved or noted in the information section of the report.
The payroll audit is issued in the form of an “Agreed Upon Procedures” as speciﬁed by the AICPA. The second page of the report includes an Information Worksheet. This supplies the basic background information on the engagement: company, trust funds audited, periods under examination, auditor, audit ﬁeldwork dates, records used, and comments on any discrepancies noted. The Contribution Recap Schedule gives an overall snapshot of the audit: hours of discrepancies, contributions due, interest and liquidated damages. The Hour Recap Schedule compares hours reported to hours worked and gives a discrepancy percentage. This percentage is used if a fund, in their delinquency procedures, has thresholds for penalties or audit costs. The Monthly Discrepancy Schedules detail individual names and the discrepancies associated with each schedule, contributions, interest, and liquidated damages. The form allows for easy input by the administrative staﬀ. If the payroll audit covered several Locals or agreements, there would be a separate report for each Local, with a summary sheet condensing all the information down to “bottom line” numbers for the Trustees.
My employees complete Forms on behalf of My clients. My employees file Forms electronically which saves time and money.
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