What information and records is needed to complete a professional liability (E&O) payroll audit?

    • Payroll journals listing individual employee payroll records and job duties/responsibilities for the period listed on the audit form
    • Your general ledger, check register, and cash disbursements journal
    • Federal Quarterly Tax Returns (IRS Form 941) for the previous four quarters (State Unemployment Quarterly Forms are also acceptable as well as Schedule C of the Federal Income Tax Return for sole proprietors, Form 1065 for LLCs/partnerships, or Form 1120 for corporations)
    • All Miscellaneous Income Forms (IRS Form 1099) for the most recently completed calendar year
    • Any other records that may be requested by the auditor at the time of your audit
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