Retailers Insurance Company conducts yearly audits of our policyholders around the time of the policy's renewal. Policyholders will be notified in advance before an audit.
The following items will need to be available during an audit:
- Name, job duties, gross wages and gross overtime paid to each employee
- Number of weeks worked for each employee (start and end dates)
- Federal and state quarterly tax reports (Federal Forms 940 & 941)
- Check register
- Subcontractor cost records (check register) & certificates of insurance for your subcontractors
- Sales records (general ledger)
- Most recent company Profit & Loss Statement, federal income tax return Schedule C or income statement to verify gross sales.
Depending on the operation, we may request a brief tour of your place of business also.
If you have specific questions about an audit please contact Judy Schafer at our office, 800.366.3699 ext. 331 or email@example.com.