Excellent recordkeeping recently earned the Ohio Bureau of Workers Compensation (BWC) the Auditor of State Award after a review by State Auditor Dave Yost's office returned a clean audit report. The audit was completed by Schneider Downs and accepted by Auditor Yost.
"BWC is committed to safeguarding employer premiums so we have a strong system to care for Ohio's injured workers," said BWC Administrator/CEO Stephen Buehrer. "This recognition reflects the effectiveness of the policies and procedures we have in place to ensure the highest level of transparency and accountability." (WCxKit)
The Auditor of State Award is presented to public entities that meet the following criteria of a "clean" audit report:
1. Must be a GAAP entity without a CAFR (Certified Annual Financial Report) that timely files their financial reports with the Auditor of State
2. The audit report does not contain any findings for recovery, material citations, material weaknesses, significant deficiencies, Single Audit findings or questioned costs
3. The entity's management letter contains no comments related to:
· Ethics referrals
· Questioned costs less than $10,000
· Lack of timely report submission
· Reconciliation
· Failure to obtain a timely Single Audit
· Findings for recovery less than $100
· Public meetings or public records
Author Robert Elliott, executive vice president, Amaxx Risk Solutions, Inc. has worked successfully for 20 years with many industries to reduce Workers Compensation costs, including airlines, healthcare, printing/publishing, pharmaceuticals, retail, hospitality and manufacturing. She is the author of the #1 selling book on cost containment, Manage Your Workers Compensation: Reduce Costs 20-50% www.WCManual.com See www.LowerWC.com for more information. Contact: Info@ReduceYourWorkersComp.com.
Learn about WORKERS COMP MANAGEMENT BOOK: www.WCManual.com
WORK COMP CALCULATOR: www.LowerWC.com/calculator.php
MODIFIED DUTY CALCULATOR: www.LowerWC.com/transitional-duty-cost-calculator.php
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Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers comp issues.
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