Annual Report 4-1-16

the way forward

forward

Agency Risk Management and Internal Control Standards (ARMICS) Internal Control Requirements The Commission will meet ARMICS requirements by ensuring compliance with financial transactions and statements, laws and regulations, and safeguarding the Commission’s assets.

Compliance Efforts The Commission will ensure employers, carriers, and claim administrators comply with timely filing of workers’ compensation information through compliance efforts such as monthly report cards and employer monitoring.

New Headquarters Search The Commission is evaluating office space in the Richmond area to consolidate separated business areas.

Policy Changes An internal review of policies will be conducted by agency leadership members. Policies will be modified based upon current operations and future outlook.

25

Virginia Workers’ Compensation Commission | 2015 Annual Report