Benefit Plan Audits
As new legislative and regulatory initiatives are developed impacting employee benefit plans, greater technical expertise and professional experience is necessary to navigate and comply with the requirements. A quality employee benefit plan audit requires a team of experienced professionals.
At Gaintner Bandler Reed & Peters PLC, we have over 20 years experience auditing employee benefit plans. Our benefit plan training is ongoing and continuously updated to keep us on the inside track. Our staff of certified public accountants will work with you to help you comply with the rules and regulations affecting your plan. We develop audit and advisory programs tailored to the unique needs of each employee benefit plan. We organize the flow of our work so you know what to expect during the audit.
Employee Benefit Services:
- Full and limited scope audited financial statements and schedules as required by the Department of Labor and ERISA
- Coordination with other plan specialists - plan administrators, actuaries and attorneys
- Consulting services related to plan operations
Your Needs
Are you using the same CPA firm to audit both your Company and your employee benefit plans? Not all firms that perform financial statement audits have the same expertise and/or desire to also audit employee benefit plans. An inexperienced auditor can subject you and your plan to severe penalties as a result of incomplete and insufficient audit procedures. Further, it may not be cost effective to use the same firm performing your financial statement audit to perform your employee benefit plan audit.
Our Solutions
Our team keeps current in this highly technical field by attending the annual AICPA National Conference on Employee Benefit Plans and other relevant seminars. As a member of the AICPA’s Employee Benefit Plan Audit Quality Center, we can offer assurance of our commitment to providing high quality audit services.
Beware of Low Cost Plan Audits
Sub-Standard Audits = Potential Audit Rejection by the Department of Labor
Pension auditing is a specialized area.
Make certain your auditors are highly qualified.
Many CPAs may not perform your audit in accordance with Department of Labor guidelines or professional auditing standards.
Protect yourself and your Plan against severe penalties. Select an auditor who will conduct a quality audit.
Each year the DOL rejects numerous plan audits due to poor audit quality. There is typically a correlation between audit quality and the time incurred by the audit team.
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