Have you ever considered having an audit carried out on your payroll?
Did you know that the Revenue Commissioners collected €26.44 billion in PAYE/PRSI/USC in 2017 and the yield from audit and compliance interventions in 2017 was €491.9 million? How confident are you that your payroll calculations are correct and should Revenue carry out a Compliance Intervention that there would be nothing to find?
There is more to payroll than paying your employees on time. While many payroll professionals have complete faith in their payroll software, there are payroll calculations that must be prepared outside of payroll software which must adhere to strict legislation. As payroll calculations are largely repetitive in nature, your organisation may benefit from having a payroll audit carried out to ensure that everything has been calculated correctly!
The audit will be carried out by IPASS payroll consultants who have unrivalled knowledge and experience in the operation and calculation of PAYE, PRSI, USC and employment legislation.
Audits are generally carried out between 10.00am – 4.30pm
All information will be treated with strict confidentiality.
Benefits For Your Business:
> Knowledge that your payroll records meet Revenue’s expectations
> Assurance that your payroll calculations are in line with current legislation and practice
> Confidence in your payroll personnel that the work they carry out is correct
The Audit will be Carried Out Onsite by one of our Specialised Team Members to Include:
> Introductory meeting
> Review of payroll administration
> Comprehensive review of payroll processes in a given payroll period
> Check of payroll calculations with particular focus on requested areas
> Adherence with main provisions of employment legislation
> Areas of improvement will be identified and advised upon
> Close out meeting with payroll personnel to discuss the findings or a written report, if required
In advance of the Payroll Audit information regarding the business will be Requested for a Selected Period Of Time to include:
> History of business
> Number of employees
> Pension scheme
> Pay scales
> Statutory deductions
> PRSI classification
> Expenses and tax free payments
> Benefits-in-kind – fixed asset register, log books and licencing certs for each company vehicle, membership/subscription invoices paid on behalf of staff, medical insurance premiums, etc.
> Administration process for starters, leavers etc.