What is an Audit?
An audit is an independent examination of information and documents needed to verify that each Participant is correctly classified and that their premiums are properly determined. Builders Trust has established a working relationship with several Independent Premium Audit Consultants or PAC's. This group of professionals will be responsible for contacting and visiting you to complete the audit. In addition, Builders Trust employs an in-house Premium Audit Manager who is available to assist you with any questions or concerns you may have regarding audit questions and disputes. This individual is also responsible for conducting audits as well as reviewing and processing all of the final audits. Some Participants may be scheduled for a telephone audit instead of a physical visit. When the telephone audit is scheduled, you will be asked to FAX or mail specific documents to Builders Trust to help us complete your audit successfully.
YOUR PREMIUM AUDIT DEPARTMENT IS MANAGED BY DAN THOMPSON (PREMIUM AUDIT MANAGER). DAN'S BACKGROUND INCLUDES EXTENSIVE CONSTRUCTION INDUSTRY EXPERIENCE AS WELL AS 10 YEARS OF EXPERIENCE WITHIN THE INSURANCE INDUSTRY. WE RELY ON DAN TO MANAGE OUR PREMIUM AUDIT CONSULTANTS (PACS) LOCATED ACROSS THE STATE OF NEW MEXICO TO ENSURE QUALITY AND TIMELY AUDITS.
Being prepared at audit time.
Being prepared for an audit will save you valuable time. Being prepared means that you have gathered all the necessary documents together before the audit appointment.
When you are contacted for an appointment the auditor will review the records they would like to have available to complete the audit.
Individual Earnings records W-2's and 1099's
Quarterly SUTA & 941 Reports
Cash Disbursements Journal
Check Register/cancelled checks
Subcontractor Certificates of Insurance