An audit, like it is for all non-profit organizations, is crucial for labor organizations.
More than ever, they are faced with budget constraints, and are under the watchful eye of the government.
An audit can assure that everything is in order. Our auditors understand the unique needs that each labor organization faces. At Maletta & Company, we have thorough knowledge and understanding of Department of Labor and Internal Revenue Service reporting requirements. Our staff has years of experience in dealing with LM-2, LM-3 and LM-4 forms, as well as Form 990. We also know the federal and state compliance standards they must meet.
We specialize in the handling of many labor organizations including:
And are experts in the documents the forms in which they are required to file:
*Department of Labor Form LM-2
*Department of Labor Form LM-3
*Department of Labor Form LM-4
*Internal Revenue Service Form 990.
The Office of Labor-Management Standards (OLMS) in the U.S. Department of Labor is the Federal agency responsible for administering and enforcing most provisions of the Labor-Management Reporting and Disclosure Act of 1959, as amended (LMRDA). The LMRDA directly affects millions of people throughout the United States. The law was enacted by Congress primarily to ensure basic standards of democracy and fiscal responsibility in labor organizations representing employees in private industry. Unions representing U.S. Postal Service employees became subject to the LMRDA with the passage of the Postal Reorganization Act of 1970. The major provisions of the LMRDA are:
- *A "Bill of Rights" for union members;
- *Requirements for reporting and disclosure of financial information and administrative practices by labor unions;
- *Requirements for reporting and disclosure by employers, labor relations consultants, union officers and employees, and surety companies, when they engage in certain activities;
- *Rules for establishing and maintaining trusteeships;
- *Standards for conducting fair elections of union officers; and,
- *Safeguards for protecting union funds and assets.
Maletta & Company also has QuickBook ProAdvisors on staff to help with the installation, setup, training and to lend their support and expertise on the accounting software.