5 Things To Look For In Your Benefit Plan Audit Specialist
A specialist will make the benefit plan audit process easier for you
Hiring a specialist ensures a feeling of confidence, trust, and peace of mind.
Many CPA firms will list benefit plan audits under a long list of services they offer. The truth is, a benefit plan audit isn’t your typical audit. There are nuanced requirements and strict standards that must be followed.
Did you know that:
- Most firms will hand off your important benefit plan audit to less experienced CPAs.
- The Department of Labor found serious problems with nearly 40% of employee benefit plan audits not performed by a benefit plan audit specialist.
- An incomplete, inadequate, or untimely audit report may result in penalties being assessed against you, as the plan’s administrator
Think about it:
Would you feel comfortable with an audit of your benefit plan that was done by an inexperienced CPA, knowing the above?
Make the right choice:
By choosing the right Benefit Plan Audit Specialist you can rest assured that your plan’s best interests are being kept in mind including whether:
- Plan assets covered by the audit have been fairly valued
- Plan obligations are properly stated and described
- Benefit payments were made in accordance with plan terms
- Issues were identified that may impact the plan’s tax status
Download this whitepaper today to learn why finding the best possible benefit plan audit specialist, the first time, will make a difference not only to your company, but more importantly, your employees (retirement, health, and other promised benefits).