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If you don’t have it already, consider amending your plan document to include auto enrollment with an auto escalation feature. Learn more.
The Auditing Standards Board, which is an AICPA committee tasked with creating new auditing standards, has proposed a new Statement on Auditing Standards, AU-C Section 703, Forming An Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA.
This article covers 8 common audit findings and the steps you can take to identify any issues within your plan before facing an audit.
The Department of Labor (DOL) and Internal Revenue Service (IRS) have established programs intended to encourage sponsors to voluntarily correct plan failures before facing an audit.
This article shares a list of questions on common errors found in 401(k) retirement plan operations. Is your employee retirement plan compliant?
Now is the time to make sure your company’s retirement plan is in order and can sustain a rigorous Department of Labor or Internal Revenue Service review.
Limited scope audits are elected on more than 80% of employee benefit plans. As a plan administrator, what does electing a limited scope audit mean to you?
One important requirement that leaders of growing companies need to stay on top of is that they must have their 401(k) plans audited if they have more than 100 participants.
Federal law requires employee benefit plans with more than 100 active participants to have an independent audit including audited financial statements with Form 5500.