Benefit Plan Audits

We work with a wide range of clients, from medium-sized businesses to publicly -traded companies, across California and the U.S. Your plan will benefit from our extensive network of pension-related services groups, including pension administrators, attorneys and asset managers.

Additionally, we continually strive to ensure clients receive a superior level of service throughout the engagement, which is why our engagement teams receive ongoing internal and external training throughout the year to ensure that we match our staff experience with the best fit for your benefit plan audit needs.

If your organization has a defined contribution employee benefit plan which includes 401k or other retirement plans with 100 or more participants, generally, you're required by law to have an audit as part of your obligation to file an annual return/report (Form 5500) with the Department of Labor (DOL). As a result of your benefit plan audit, you will be provided with a full set of audited financial statements that meet all the statutory requirements of the IRS, DOL and ERISA. Our auditors will also make suggestions for improvements if they identify any compliance problems or internal control deficiencies. To help you meet this requirement, our employee benefit plan auditors perform timely and competitively priced services for:

401k Audits - A 401k audit by an independent qualified public accountant helps protect plan assets from mismanagement, and helps protect the plan administrator from financial penalties that may result from filing an incomplete or inaccurate Form 5500.
403b Audits - A 403b audit ensures compliance with the IRS's universal availability requirement with respect to elective deferrals.
Employee Stock Ownership Plans (ESOP) Audits - ESOP audits focus on the transaction and valuation of the stock available for purchase by the employees of a given company. Plans with membership of more than 100 participants (apart from certain qualifying small plan filers) must be audited each year as part of a Form 5500.
Health and Welfare Benefit Plan Audits - If funded, welfare benefit plans such as medical, dental, short and long-term disability, etc., must be audited yearly in accordance with ERISA reporting requirements.

As a result of your benefit plan audit, you will be provided with a full set of audited financial statements that meet all the statutory requirements of the IRS, DOL and ERISA. Our auditors will also make suggestions for improvements if they identify any compliance problems or internal control deficiencies.