The best preparation you can have for any kind of audit is good record keeping, efficient systems and standard operating procedures that are adhered to at all levels. This is true of all business audits, including financial audits, stock audits and workers compensation audits.
With workers’ comp, the most basic requirement is that you create and maintain a safe working environment. The safer your workplace and work practices, the less risk there is of staff injury and the less chance that you may need to make a claim. You also need to maintain employee and payroll records, as how much you need to pay for workers’ comp insurance will partially depend on the number of employees and their roles.
When it comes to audits, it is the paperwork that provides the biggest challenge to most people. It is all too easy to put an important piece of paperwork to one side to be filed later and end up inadvertently misplacing it in the process.
Workers compensation audits don’t need to be a nightmare. You must maintain simple but efficient systems to ensure that when the time comes for that audit, you can present all the information for the required period. With good organization and regular maintenance of your systems, business audits don’t have to be a nightmare.
