Employee Benefit Plan Audit

Choosing the right benefit plans for your organization involves careful analysis of what your employees expect versus what your business can realistically provide. And then there’s the ongoing maintenance and evolving regulations enforced by various governing agencies.

Selecting a firm for your employee benefit plan audit and working through the audit process shouldn’t add to your worries, regardless of whether you are a restaurant, auto dealership or non-profit. One of the most important factors in choosing an employee benefit plan auditor is experience, especially those with experience in your particular industry. The U.S. Department of Labor (DOL) advises:

“One of the most common reasons for deficient accountants’ reports is the failure of the auditor to perform tests in areas unique to employee benefit plan audits. The more training and experience that an auditor has with employee benefit plan audits, the more familiar the auditor will be with benefit plan practices and operations, as well as the special auditing standards and rules that apply to such plans.”

With the help of our auditors, you can navigate the complexities of employee benefit regulations and avoid DOL penalties. Your team at Mize CPAs Inc. audits over 50 benefit plans annually and has first-hand knowledge to identify certain areas of risk in keeping with current DOL regulations. We also have significant experience with nearly all types of benefit plans, including:

401(k)
403(b)
Defined benefit
Defined contribution
Employee stock ownership (ESOP)
Health and welfare
Pension
Qualified and unqualified

Mize is a member of the AICPA Employee Benefit Plan Audit Quality Center (EBPAQC), and our CPAs regularly attend conferences to maintain technical knowledge on employee benefit plan audit requirements.

Whether you are considering a switch from your current auditor or aren’t sure if you even need to have a benefit plan audit, we are here to help. We can also help you navigate and respond to DOL compliance matters.