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Overview:Audits are the biggest fear of most employers… especially the payroll department. Whether it be for wage and hour law or IRS compliance suffering through an external audit is an ordeal that everyone tries to avoid…and rightly so. But what if you conducted your own internal audit to root out the areas of noncompliance? Wouldn't it be easier, not to mention cheaper in the long run, to find your own compliance issues. To fix where something went astray without the stress of an external auditor's penalty calculator looming over you? That's what we cover in this webinar. How to conduct an internal audit to discover where you have compliance issues before the IRS or Department of Labor do it for you.

But even an internal audit does not have to be looked upon as a thing to dread. In fact, by conducting an internal audit you can increase your own and your payroll staff's knowledge and education concerning the law, rules and regulations governing your payroll processes. Auditing requires knowledge of the subject being audited and we will demonstrate to you how to acquire this knowledge before beginning each phase of the audit.

Unfortunately, it isn't just compliance issues that you need to worry about when deciding whether or not to conduct an internal audit. Fraud is all around us in this day and age and not even the payroll department is immune. And an external audit will never be looking for internal fraud, only you can do that. In this webinar we also discuss how conducting an internal audit can discover whether or not you have been subject to fraud plus help you to prevent internal fraud in the future.

Why should you attend: The attendee will learn how conduct an internal audit including what sources to use to verify the compliance requirements, how to set up and conduct the audit and what to do if a compliance issue is found.

Areas Covered in the Session:

• Learn the best practices for payroll departments to avoid audits
• How to beat them At their own game: strategies to conduct your own internal audit
• Auditing for internal fraud: what to look out for including phantom employees and reverse deductions
• How an internal audit can aid in training payroll staff members
• Auditing for Wage and Hour law compliance on both the federal and state level
• Auditing for tax law compliance on both the state and federal level
• What to audit for: sample lists to get you started on your own audit
• How to get management to buy into the idea of an "internal audit"
• What to do if a compliance issue does arise during an internal audit
• When to conduct the internal audit

Who Will Benefit:

• Payroll Professionals
• Human Resources
• Accounting Personnel
• Business Owners
• Lawmakers
• Attorneys, or any individual or entity that must deal with the complexities and technicalities of ensuring compliance within the payroll process