Glossary  /  Audit types

Telephone audit

Also called phone audit

A telephone audit is a premium audit conducted by interviewing the insured over the phone, with figures reported verbally and documents sometimes supplied afterward.

Fast and inexpensive, and generally reserved for smaller or lower-hazard risks.

The method depends heavily on the insured's own understanding of what counts as payroll, since figures are reported rather than read from source documents. A business owner who does not know that bonuses are included, or that overtime should be separated, will report accordingly.

Related terms

  • Physical auditA physical audit is a premium audit conducted on site, with an auditor visiting the business to examine payroll and financial records in person.
  • Virtual auditA virtual audit is a premium audit conducted remotely, with the insured supplying native digital records through a secure channel and the auditor working from those source documents directly.

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