Audits are Good

An insurance agency in Alabama is audited by the State Insurance Commissioner, every three years. If only, my husbands multi-specialty group had been required to have an audit, the group would not have lost 1.2 million dollars. They trusted their bookkeeper of 20 years. Most of the doctor’s were trying to keep their business’s afloat that they did not participate in the business aspect of the clinic. After the woman’s conviction, she was sentenced to 30 months in jail, the doctors said,’no wonder she had so much cash’. They just passed it off to none of their business. Her BMW car tag read something to the effect of ‘CUZICAN’. That pretty well sums it up. She was given too much unchecked power. Even though it may seem like an audit cost too much, protect yourself and insist that your company has a audit at least every three years.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: