Employee Benefit Plan Audit Group
With increased scrutiny by the Department of Labor (“DOL”) and Internal Revenue Service (“IRS”), Plan Sponsors of employee benefit plans as fiduciaries should expect more from their auditors. We believe that an employee benefit plan audit is only as effective as the planning that goes into it. Our audit team has a depth of knowledge and expertise in all types of plans and is proactive in communicating new developments throughout the year. Our qualified plan audit and consulting practice includes DOL disclaimer and full-scope audits of defined contribution, defined benefit, and health and welfare plans. Our consulting experience includes consultation projects regarding Plan document compliance deficiencies and correction methodologies, third party administrator and trustee search and selection processes, power of attorney representation in DOL and IRS audits, and fiduciary review and documentation projects.
We are a member of the AICPA Employee Benefit Plan Audit Quality Center. As such, we are dedicated to the highest level of quality, education and accountability. Accordingly, we have designed and continually improve our employee benefit plan audit methodology around the AICPA Employee Benefit Plan Guide, DOL, ERISA and IRS standards. In addition, our internal reviews, partner rotation, and external peer reviews are designed to achieve a high level of audit quality. Our firm’s internal policy is to require all team leaders assigned to employee benefit plans to obtain continuing education directly related to employee benefit plan audits on an annual basis. This ensures all staff members performing audits are up to date on the latest emerging issues surrounding employee benefit plans. In addition, we consider the annual reviews of common audit deficiencies published by the PCAOB and the AICPA, incorporating new audit tests to assure our procedures meet all standards.