Lumsden McCormick provides account and tax services to more than 20 self-insured workers’ compensation trust funds. In addition, we have performed various forensic accounting services for the New York State Workers’ Compensation Board on over 25 self-insured workers’ compensation trust funds and frequently assist the New York State Workers’ Compensation Board and the New York State Attorney General’s office in a variety of tax and accounting areas. We have extensive experience consulting with plan actuaries, claim administrators, and group managers, as well as a unique understanding of methodologies used by actuaries to determine the year-end claim’s liability.
Our workers’ compensation trust fund services include:
Audit and Accounting Services
- Corporate taxation - Form 1120-PC
- Federal and state tax audits
- Tax planning
- Deficit assessment calculation and allocation
- Forensic accounting to determine adequacy of year end claims reserves
- Operational reports to identify reasons for trust deficits
- Compliance with New York Code of Rules and Regulations (NYCRR)
- Targeted reports that focus on selected areas of a trust's operations
- American Institute of Certified Public Accountants (AICPA)
- AICPA Employee Benefit Plan Audit Quality Center
- Member of the Center for Public Company Audit Firms of the AICPA
- BDO Alliance USA
- New York State Society of Certified Public Accountants (NYSSCPA)
- Public Company Accounting Oversight Board (PCAOB)
Wednesday, June 13, 2018
Revising your approach to customer service may seem like reinventing the wheel, but as buying trends, technology, and culture change, so must your methods of interacting with customers.
Thursday, May 3, 2018
Leases will soon be in the spotlight: A new standard is scheduled to move financial reporting for leases from the footnotes to the face of the balance sheet.
Thursday, September 21, 2017
The U.S. Department of Labor (DOL) has begun taking steps to loosen the reins on employers, turning away from some Obama administration initiatives.