Employee Benefit Plan Audit
The employee benefit plan arena is constantly changing. Failure to keep up with these constantly changing requirements can result in substantial penalties to the plan sponsor. The myriad changes require that the plan sponsor have the support of experienced benefit plan professionals.
One of the most important fiduciary responsibilities of a benefit plan is hiring a qualified independent CPA to audit the plan's financial statements. The plan auditor must have both industry and technical expertise.
Click to watch our recent webinar, "Avoiding Common Benefit Plan Errors."
Employee Benefit Plan Partner Chris Etheridge Discusses Benefit Plan Audits
As a leading service provider of employee benefit plan services nationally, Frazier & Deeter's employee benefit plan services group is comprised of dedicated ERISA specialists who go beyond providing just the audit of the plan's financial statements. They fully understand the responsibility and risk that the plan fiduciary faces and continually stay abreast of all current industry developments.
In addition to the financial statement audits Frazier & Deeter's CPAs assist with plan design issues, plan operation and compliance, and other general employee benefit areas. They work closely with the plan's human resources and benefits group in improving the plan's administrative processes wherever possible.
Specialization in the Employee Benefit Plan Industry
As a leader in the industry, Frazier & Deeter is a charter member in the American Institute of Certified Public Accountants' ("AICPA") Employee Benefit Plan Audit Quality Center ("EBPAQC"). Membership requires dedicated ERISA audit partner and team members, continuing professional education requirements specific to employee benefit plans for all partners and managers who manage ERISA audits, and specific quality control programs for ERISA audits.
• Audits (Full Scope and Limited Scope) of qualified defined contribution and defined benefit employee benefit plans as required by ERISA 103(a)(3)(A) and 29CFR 2520.103-1(b)
• Audits of plans requiring filing of Form 11K
• Audits of welfare benefit plans with a 501(c)(9) or other trust arrangements
• Audits of 403(b) plans
• Plan controls recommendations and management communication
• Required governance communication
Consulting and Compliance Services:
• Preparation and review of Form 5500 and Form 5330
• Plan compliance reviews and audits
• Full HR department compliance reviews
• Plan design and development
• Assistance with plan operational issues and correction
• Plan compliance review
• Plan fiduciary review
• Plan mergers and termination
• Fee and other plan benchmarking
• HR best practices and administrative process improvement
• Tax and tax planning services
• Assistance with both IRS and DOL audits
Let Frazier & Deeter be your partner in providing guidance and answers to you and your employee retirement-related questions and keeping you abreast of all employee benefit plan rules and regulations.