Common Audit Errors for Clients
Do you have a client with past audit mistakes? For business owners, audits can be a complex and stressful process, and there are many pitfalls they may experience during an audit. Some of these most common mistakes include:
- Failure to include deductions
- Improper classifications
- Underreporting payroll
- Failure to include necessary paperwork
- Not reporting subcontractors
- Failure to report exclusions in all applicable states
When a client experiences issues or errors like these, it can lead to many issues, including high premiums. They may even be labeled as “non-cooperative,” which could result in the complete cancellation of their policy.
If a client has previous audit issues that result in cancelled policies or a lapse in coverage, it can be incredibly difficult for them to find Workers’ Compensation coverage in the future.
At PEO Insurance Brokers Network, we specialize in helping companies find coverage after past audit issues. We know audits are challenging and will work to help your insured, not hold their past audit issues against them. Plus, our programs are pay-as-you-go, so your clients are not required to go through the audit process again. To learn how we can help you find coverage for your clients with previous audit errors, email quotes@peobrokersnetwork.com to receive a quote.
