Picture of an Employee Benefit Plan Audit

Employee Benefit Plan Audits

As required by ERISA

Constant changes to federal regulations governing retirement plan compliance continue to become more complex, and the penalties for non-compliance can be harsh. As you consider your options for a plan auditor, consider The Whitlock Company.

Does Your Plan Require an Audit?

The Department of Labor finalized revisions to the 2009 form 5500 requiring many previously unaudited 403(b) plans to be audited. Organizations subject to ERISA will be required in most cases to have their plan’s financial statements audited if they have more than 100 eligible participants as of the beginning of the plan year.

What We Provide

The Whitlock Company staffs several professionals who focus on audit and consulting services for businesses with employee benefit plans. They receive ongoing compliance training in new developments and strategies, so our clients receive the most current information available. In addition to auditing clients’ retirement plans, we also work with businesses who use other CPAs for their accounting and tax needs without disrupting that relationship. Additionally, new accounting industry regulations requiring auditor independence have resulted in a trend towards hiring a second CPA firm for benefit plan audits.

What You Will Receive

  • Timely delivery of a competitively priced high-quality audit
  • Practical recommendations on how to fine-tune internal procedures to save your organization’s resources
  • An efficient audit conducted with a minimum of client assistance
  • Assistance in developing strategies to maximize contributions and position your plan as an employee recruiting and retention tool

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