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Multiemployer plans
Payroll audits

Multiemployer plans
Payroll audits

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* How do payroll audits help satisfy the completeness assertion of plan contributions in a multiemployer plan?

Ensuring that all contributions were remitted in a timely manner.

By reconciling contributions received by the plan to substantive analytical procedures the plan administrator maintains.

Testing that all 'covered work' as defined in the collective bargaining agreement has been properly reported.

The payroll auditor reconciles the cash receipts of the plan with the cash remittances on the participating employer records.

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