Employee Benefit Plan Audits - 401 (k) Audits

Every year, regulations governing ERISA audits are subject to change. As such, it can become problematic, if your company’s ERISA audit is not done with care and competency. The Department of Labor plans to continue its increased scrutiny of employee benefit plan audits, so be sure you choose an auditor that's right for you.

We understand the complexities of pension plan auditing and the importance of smooth interaction amongst the employer, the custodian and the third party administrator (TPA).

Our 401 (k) Audit team is well-versed in:

• Audit planning - analytical procedures, accounting estimates, fraud
• Auditing the statement of net assets available for benefits
• Auditing the statement of changes in net assets available for benefits
• ERISA and SEC requirements
• Evaluating internal control
• Financial statement disclosures
• Preparing the auditor’s report
• Special audit considerations
• Supplementary schedules

401 (k) audits are required for the majority of retirement plans having at least one hundred active participants at the beginning of any plan year. We are well versed in working with these plans and understand the audit disclosure requirements. We are knowledgeable about the supplemental schedules and specific reporting required by ERISA, DOL and the related Generally Accepted Accounting Principles (GAAP).