February 21, 2020
FAQs About Audit Confirmations
Auditors use various procedures to verify the amounts reported on your financial statements. In addition…
The Department of Labor (DOL) requires an annual employee benefit plan audit with 100 or more eligible participants. This includes pension plan audits, 401k audits and 403b audits, Employee Stock Ownership Plans (ESOPs), defined contribution plans and health and welfare benefit plans. While time-consuming, the annual audit is an important safeguard against fraud and abuse. With proper analysis, the audit can also help you more effectively and efficiently manage your employee benefit plan.
Effective and Efficient
Our focus is to ensure that the employee benefit plan audit is performed in an effective and efficient manner consistent with the Generally Accepted Accounting Standards (GAAP). We work with a variety of clients, from small- to medium-sized businesses to publicly-traded companies across the U.S. Your plan will benefit from our extensive network of administrators, attorneys and asset managers. Our approach includes:
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Risk-Focused Analysis: Feedback by considering the risk inherent in those processes and the controls that should be in place to manage them.
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Efficient, Effective Employee Benefit Plan Audit: Focuses on your processes and the potential risks that could create roadblocks.
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Value-Added Service: Feedback and guidance on best practices and industry trends as we perform our audit.
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403B, 401K Audit Optimization With Technology: Effortless communication between your staff and ours, using state-of-the-art cloud software.
