Employee Benefit Plan Audits

Employee benefit plans are an important part of how your company cares for and compensates its employees. They also represent numerous responsibilities, financial and regulatory, for the employer.

EBP Auditing

No matter what your company’s employee benefit plan (EBP) looks like, we can perform comprehensive audits to ensure regulatory compliance and complete, accurate annual filings. Our staff has experience with various plan types, including defined contribution retirement plans, such as 401(k), 403(b), and profit-sharing, employee stock ownership arrangements, defined benefit pension plans, and health and welfare plans.

Employee benefit plan audits are required by the Department of Labor (DOL) and the Employee Retirement Income Security Act of 1974 (ERISA) to ensure that your company is fulfilling its obligations and meeting regulatory requirements. Our years of experience in EBP auditing, along with our strong understanding of generally accepted auditing standards (GAAS), as well as ERISA and DOL regulation, provide us with the specialized skills and knowledge to perform truly effective EBP audits.

We perform

  • Full scope audits
  • Limited scope audits
  • Compliance testing assistance
  • IRS Form 5500 preparation and review

As part of the BDO Alliance USA, we also have access to resources including industry leaders in EBP auditing, the AICPA Employee Benefit Plan Audit Quality Center, and International Foundation of Employee Benefit Plans.

Time for an EBP Audit?

If it’s time for an audit of your employee benefit plan, or if you have questions about EBP audits, please contact us. Our in-house expert on employee benefit plan audits can help answer your questions.

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