Lumsden McCormick currently audits 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 to over 15 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 assurance services
- Audits of financial statements
- Calculation of liability for 50-5 assessment fund
- 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)
- 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, April 26, 2017
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