How to choose the right 401(k) plan auditor

October 15, 2023

How to choose the right 401(k) plan auditor

Wondering how to choose the right 401(k) plan auditor for your organization? Here’s what to look for—and avoid—in selecting your auditing firm.


If your company’s 401(k) plan is considered “large,” you must have an independent firm audit your plan’s financial statements. (According to the new rules, large plans are generally defined as having 100 or more participating employees with balances). 

The question is: how do you choose the right 401(k) plan auditor for your organization? Here’s what to look for—and avoid—in selecting your auditing firm.


You might be thinking, That’s easy. I’ll just have my CPA do it. If so, think again

Your tax or corporate accounting firm is the right team to handle your financial reporting and tax filings. But for 401k plan audits, you’re in better hands with a specialist. Here’s why:

Smaller accounting firms or solo accountants may perform only one or two benefits plan audits a year. That’s simply not enough experience with the nuances of compliance, befuddling regulations, and the wide variety of scenarios that any benefits plan can present. 

Choose a firm that specializes in 401(k) plan audits.

Big accounting firms aren’t much better in this regard; they may perform a higher volume of audits, but you’re more likely to deal with a new team of fresh faces each year, who you need to train on your processes and controls—a costly burden on your time.

Select an auditor with the same dedicated team handling your account year after year. 


Avoid auditors who make you do the heavy lifting when it comes to interfacing with your other service providers. 

Just like our logo suggests, Cassell Plan Audits is the puzzle piece that connects all the different service providers on your benefits plan team. We liaise directly with your providers during your audit to get what we need from them, so you don’t have to.

Choose an auditing firm that communicates directly with your team of service providers on your behalf.


Pick an auditor that can save you time with a virtual audit.

Once upon a yesteryear, audits required an in-person visit and the onerous task of finding and providing files and paperwork to answer our questions. 

Leveraging technology and our deep knowledge base, we’ve optimized the audit process for maximum efficiency with minimum disruption to your business. We’ll still go on-site if our clients prefer, but most opt for a virtual experience.

Choose an auditor that offers a virtual option.

Audits are a time suck as it is. So, wouldn’t you want to work with an auditing firm that aims to take up as little of your time and effort as possible? 

As independent, third-party auditors, our mission is to make this annual requirement as painless as possible with a dedicated, experienced team of friendly auditors who focus on 401(k) plan audits and nothing else. 

For your next audit, see what a difference experience can make. Contact Cassell Plan Audits today.

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