BBSI: Investigation Found Unsupported Journal Entries Understated Comp Costs

Professional employer organization Barrett Business Services Inc. said an independent forensic accounting investigation of its financial records from 2010 through 2015 found unsupported entries by the recently ousted chief financial officers understated workers’ compensation costs. “As reported in the previous 8-K, a majority of the unsupported entries overstated direct payroll costs, payroll taxes and benefit expenses, and selling, general and administrative expenses, while understating workers’ compensation expense,” the company said in an April 19 filing with the U....