Employee benefit plan audits: Making the right choice
If you are an employee benefit plan administrator who is working on your 401(K) Plan’s 2015 financial statements that will be submitted to the Department of Labor (DOL) as part of the Plan’s Form 5500 filing, you may have received a letter from the DOL that stresses the importance of selecting a qualified CPA who has the expertise to perform an audit in accordance with professional auditing standards.
The choice you make is a critical responsibility in safeguarding your plan’s assets and ensuring your compliance with ERISA’s reporting and fiduciary requirements. Substandard audit work can be costly to plan administrators and sponsors as it both jeopardizes plan assets and can result in significant civil penalties being imposed on the plan administrator by the DOL.
At ShindelRock, we have a dedicated and experienced team of professionals that can assist you in employee benefit plan audits. If you’re looking for a qualified CPA who has the expertise to perform these types of audits, contact us today.