USA Question from a non-accountant re: 1099s

Feb 12, 2020
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United States
Hello all,
I am not an accountant. I work in a company that owns and manages several nursing homes from one central office. I work in the accounts payable department.
Over the last few days and weeks I started receiving dozens of 1099s in the mail from various insurance companies of all sorts, stating the amounts they paid out to us over the course of the year 2019.
I didn't know what to do with them, so I approached the controller and asked him. He said "Put them in a folder and hold on to them until I tell you to throw them away." I asked "But don't the accountants need them for when they do their audit?" He answered a simple "No" without explaining.

My question to the forum is this: How can the accountants do their annual audit of the books without the 1099s? Am I witnessing some sort of crime? Or maybe the accountants have some other way of verifying income?

I'd love to hear your thoughts.


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