Employee benefit plan audits

Audits of employee benefit plans encompass more than a typical audit of the financial statements.

Professional standards require that auditors of plans subject to ERISA also perform tests at the participant level and consider compliance with the Plan Documents. Regulators have found that firms that are not aware of these requirements are not performing the audits in accordance with professional standards and as a result the regulators reject the audit submissions.

RW Group is committed to performing all audits in compliance with applicable professional standards and maintaining relevant technical skills and knowledge. Directly related to employee benefit plan audits, RW Group is a member of the American Institute of CPAs Employee Benefit Plan Audit Quality Center (EBPAQC). Membership in the EBPAQC voluntary and is conditional on member firms implementing quality control policies and procedures and continuing professional education requirements that are more demanding than non-member firms.

Our team is experienced in limited and full scope audits of defined benefit and defined contributions plans including 401(k) plans, 403(b) plans, Employee Stock Ownership Plans, Health and Welfare, and profit sharing plans. Additionally our team will also be able to audit a plan subject to both US Department of Labor requirements as well as SEC requirements (11-K filers).