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Effective Dates of SASs No. 134-140 Delayed

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David Torrillo
Tuesday, April, 21, 2020 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
As expected, the effective dates of seven private company auditing standards, including SAS No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA , were delayed for one year as the result of a vote by the AICPA Auditing Standards Board (ASB). Read More
401(k)403(b)AuditAudit QualityBenefit Plan AuditDefined Benefit PlansPension Plans

Proposed Statement on Auditing Standards, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA

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David Torrillo
Thursday, April, 20, 2017 / Published in Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
On April 20, 2017, the AICPA Auditing Standards Board issued an exposure draft, Proposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. Read More
401(k)403(b)AuditAudit QualityBenefit Plan AuditDefined Benefit PlansPension PlansProposed Auditing Standard

DOL Reminding Plan Administrators to Select a Quality Auditor

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David Torrillo
Friday, November, 13, 2015 / Published in Employee Benefit Plans, News and Press Releases
 The DOL has begun to communicate to Plan administrators via e-mail that selecting a qualified CPA who has the expertise to perform an audit in accordance with professional auditing standards is a critical responsibility in safeguarding plan’s assets and ensuring compliance with ERISA’s reporting and fiduciary requirements. Read More
401(k)403(b)AuditAudit QualityBenefit Plan AuditDefined Benefit PlansDOLEBSAEnforcement prioritiesPension PlansPlan Fiduciary Update

DOL Releases Audit Quality Study

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David Torrillo
Friday, May, 29, 2015 / Published in Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
As we had previously reported, the Office of the Chief Accountant (OCA), Employee Benefits Security Administration (EBSA), U.S. Department of Labor (DOL), has recently completed an assessment of the quality of audit work performed by independent qualified public accountants (IQPAs) with respect to financial statement audits of employee benefit plans covered under the Employee Retirement
401(k)403(b)AuditAudit QualityBenefit Plan AuditDefined Benefit PlansDOLEBSAPension PlansRegulatory Priorities

What is the Audit Requirement for Benefit Plans?

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David Torrillo
Wednesday, January, 21, 2015 / Published in Employee Benefit Plans, Forms and Procedures, Retirement - 401(k), 403(b)
What is the audit requirement for benefit plans? We get this question a lot. The instructions to the Form 5500 give the technical answer. However, below is a quick summary of those requirements. Read More
401(k)403(b)AuditAudit QualityBenefit Plan AuditDefined Benefit PlansDOLEBSAEFAST 2 Filing of Form 5500semployee planERISAForm 5500Pension Plans

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  • Policy Updates
  • Retirement – 401(k), 403(b)
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Torrillo & Associates, LLC specializes in employee benefit plan audits, 401k audits, 403b audits, pension plan audits, and retirement plan audits. We are licensed in 7 states including New York, New Jersey, and Pennsylvania.  With firm mobility, we are also able to practice in an additional 27 states.

36 Regency Plaza
Glen Mills, PA 19342

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