INSURANCE PREMIUM AUDIT ACCURACY CHECKLIST 2026

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--- PRE-AUDIT DOCUMENTATION VERIFICATION ---
[ ] Audit Commencement Date
[ ] Policy Declaration Page
[ ] Previous Year's Audit Report
[ ] Verified Documentation Checklist (Payroll Registers, Tax Filings (941/W-3), Gross Sales Ledgers, Subcontractor Certificates (COIs))
[ ] Audit Auditor Assigned (Internal Audit Team, External Third-Party Auditor, Insurance Carrier Representative)
[ ] Document Verifier Authorization

--- PAYROLL AND WAGE CLASSIFICATION AUDIT ---
[ ] Audit Period Start Date
[ ] Audit Period End Date
[ ] Total Gross Payroll Audited
[ ] Primary Class Code Verified (undefined)
[ ] Included Compensation Types (Base Wages, Overtime Pay, Bonuses/Commissions, Paid Time Off (PTO), Contractor Payments)
[ ] Payroll Register/Summary Report
[ ] Class Code Discrepancy Notes
[ ] Auditor Verification

--- GROSS REVENUE AND REMUNERATION RECONCILIATION ---
[ ] Audit Period Start Date
[ ] Audit Period End Date
[ ] Total Reported Gross Revenue
[ ] Total Audited Gross Revenue
[ ] Revenue Variance Amount
[ ] Revenue Source Verification Method (Tax Returns, Profit & Loss Statements, Bank Statements, Internal Accounting Software Export)
[ ] Supporting Financial Statements
[ ] Notes on Revenue Discrepancies

--- POLICY ENDORSEMENT AND MID-TERM ADJUSTMENT REVIEW ---
[ ] Endorsement Effective Date
[ ] Endorsement Type (Addition of Risk/Asset, Deletion of Risk/Asset, Change in Coverage Limits, Change in Class Code, Address/Location Change)
[ ] Endorsement Reference Number
[ ] Description of Mid-Term Adjustment
[ ] Additional Premium/Credit Amount
[ ] Supporting Endorsement Documentation
[ ] Auditor Verification Signature

--- TAX AND SURCHARGE CALCULATION AUDIT ---
[ ] Audit Completion Date
[ ] Calculated State Premium Tax Amount
[ ] Applicable Tax Jurisdiction (Domestic (State-level), Multi-state/Interstate, International/Surplus Lines)
[ ] Verified Surcharge Types (Fire Marshal Fees, Regulatory Assessment Fees, Stamping Fees, Local Assessment Surcharges)
[ ] Tax Calculation Worksheet/Proof
[ ] Notes on Tax Discrepancies Found
[ ] Auditor Verification Signature

--- DISCOUNT AND CREDIT APPLICATION VERIFICATION ---
[ ] Applied Discount Type (Multi-Policy Discount, Safe Driver/Loss-Free Credit, Bundled Property/Casualty Discount, Loyalty/Renewal Credit, Safety Program Credit)
[ ] Applied Discount Percentage
[ ] Discount Approval Reference Code
[ ] Effective Date of Discount Application
[ ] Supporting Documentation for Credit Eligibility
[ ] Auditor Verification Signature

--- DISCREPANCY RESOLUTION AND FINAL RECONCILIATION ---
[ ] Description of Identified Discrepancies
[ ] Root Cause Analysis of Premium Variance
[ ] Total Premium Adjustment Amount
[ ] Resolution Status (Resolved, Pending Investigation, Escalated to Underwriting, Disputed by Client)
[ ] Date of Final Reconciliation
[ ] Supporting Evidence/Adjustment Documentation
[ ] Auditor Authorization Signature

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