Written By Larry Beebe

Bond Beebe

P: 301.272.6025 E: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

“The Plan Has Strong Internal Controls over the Collection Process”

A plan should have a strong Internal control system over its collection process.  A plan should have a collection policy and a collection committee that insists on compliance with the collection process.

The internal control system we should be discussing, however, is the internal control system at each contributing employer which insures that all hours are paid in accordance with the collective bargaining agreement.  Each employer will have its own internal control system over these payments.  Some will be strong and some will be weak.  Some employers will have strong systems, but management will override the system and not pay the correct amounts due.

Payroll audits are designed to verify that each employer audited is making contributions in accordance with the collective bargaining agreement.

TrackBack URI for this entry

Comments (0)

Subscribe to this comment's feed