December 4, 2008
Bond Beebe Accountant Passes the EA Exam
(PDF 20Kb)
October 28, 2008
Bond Beebe Named One of the Best Accounting Firms to Work For By Accounting Today
(PDF 69Kb)
July 21, 2008
Bond Beebe Successfully Tests New Disaster Recovery Plan
(PDF 21Kb)
June 1, 2008
Larry Beebe Training Fund Article
(PDF 1,627Kb)
April 10, 2008
Plans Need to Keep an Eye on Real Estate Taxation
(PDF 100Kb)
Posting by Sarah Azimi Stone
A recent payroll audit our firm worked on had some unusual aspects. We were sent 20 boxes of records of truck tickets which had a bare minimum of information. Our job was to calculate the hours worked for truck drivers and compare it to the hours reported. The tickets might or might not show names, truck numbers and log-in or log-out times.
We needed to compile all of the information in a presentable manner which made […]
Posting by Larry Beebe, CPA
We are adding two new sections to our blog. The first section will be questions and answers on payroll auditing. We need your help. Send us your questions. You can also send the answer as well or we can solicit the editorial board for an answer to your question.
We are also adding a humor section. Payroll auditing is a serious business but things happen, which in retrospect, are very funny – again we need your […]
Posting by Kurt Needles, CPA
One step we auditors always perform is determining when contributions are due to the fund, known as the “Trigger Point.” A Collective Bargaining Agreement (CBA) may have union clauses that will give the employer some type of probationary period on new hires. This applies to the employers’ rights to terminate or when an employee’s union status must be obtained. It does not, however, apply to the Trust funds contribution unless specifically addressed in the CBA […]
Posting by Kurt Needles, CPA
I was doing a payroll audit in a bar next to guys drinking beer. The owner of the construction company was also the bartender. I was looking at the cash disbursements and the certified payrolls. There was a total disconnect between the records I was reviewing, and I was wondering if I was given the proper information. When I asked the “bartender” what was up, he said, “don’t believe anything in the certified payrolls. The […]
Question:
We suspect that one of our contributing employers is making cash payments to employees for work covered by the collective bargaining agreement and is not making fringe benefit payments for those payments. What can we do?
Answer:
The plan should have access to the employer’s cash disbursements journal, the entity’s general ledger and the income tax return of the entity (for a partnership or corporation) or the owner (if the entity is a sole proprietorship). The cash disbursements journal should show […]
Posting by Ron Chandler, CPA
Many Funds allow owners of shareholders of a business to participate in the Fund. As the auditor, make sure that you have a full understanding of the particular Funds rules or requirements for their participation. Many small companies find it easier and more cost effective to “be part of the union” Plan, but may not be eligible because of the Fund’s rules. Recently we found a situation where the owners were participating and the Fund […]
Posting by Kurt Needles, CPA
At some time in their career, a payroll auditor will be told by an employer that their company is not signed to a collective bargaining agreement (CBA), even though they are reporting employees. Sounds ridiculous, but it happens a lot. Hopefully the auditor has a copy of the signature page in their file. This is a good sign that the company is not reporting all hours worked in qualifying employment under the CBA. The best […]
Posting by Kurt Needles, CPA
There are times when a payroll auditor in the field needs to decide to stay and review the records received, or leave the company. The best action may be to get kicked out, but it’s a tough judgment call.
The situation occurs when the auditor has correctly followed all the pre-visit procedures. The auditor communicated lists of records needed, time period, purpose and time of visit. When showing up at the company, he/she is only given […]
Posting by Larry Beebe, CPA
On September 15 and 16 in Atlantic City, New Jersey, the International Foundation of Employee Benefit Plans (IFEBP) will present the Collection Procedures Institute, filled with seminars, workshops and forums geared toward collections policies and procedures. Phil Vivirito and I will be conducting a class entitled “Efficient Payroll Auditing” which will outline payroll audit programs, range of audit services, controlling audit costs, the future of payroll audits, and more. Andy Staab, who also serves on […]
