Payroll audit
Term · Insurance and risk management · MLC-T-INS-002528
A review conducted by an insurer to verify the accuracy of payroll figures reported by a business for workers' compensation or general liability insurance. This process confirms that the premiums charged were based on the correct exposure. The audit compares reported payroll with actual financial records, such as tax forms and ledgers.
| Identifier | MLC-T-INS-002528 |
|---|---|
| Field | Insurance and risk management |
Record as JSON
{
"id": "MLC-T-INS-002528",
"term": "Payroll audit",
"field": "Insurance and risk management",
"definition": "A review conducted by an insurer to verify the accuracy of payroll figures reported by a business for workers' compensation or general liability insurance. This process confirms that the premiums charged were based on the correct exposure. The audit compares reported payroll with actual financial records, such as tax forms and ledgers.",
"url": "https://mlchart.com/terminology/insurance/payroll-audit/"
}
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