by cpaadmin | Jan 15, 2024 | 401k Plan Audit, Audit Insights
We learn the most indelible lessons from our mistakes, right? This year, save yourself (and your auditor!) time and headaches by learning from someone else’s mistakes. Fresh out of this year’s audit season, it’s time for our annual look back at the most common errors...
by cpaadmin | Oct 15, 2023 | 401k Audit Firm, 401k Audit Oversight, 401k Plan Audit, Auditor, How to choose an auditor, Plan Sponsors, Virtual Audits
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...
by cpaadmin | Jun 15, 2023 | 401k Audit Oversight, 401k Compliance, 401k Plan Audit, 5500, Audit Procedures
A new DOL policy means you may not need a 401(k) plan audit. On February 23, the Department of Labor, IRS, and Pension Benefit Guarantee Corporation unveiled major changes to employee benefits plan reporting. Small businesses rejoice as a new Department of Labor rule...
by cpaadmin | May 15, 2023 | 401k Audit Firm, 401k Audit Time, 401k Communication, 401k Plan Audit, Audit Procedures, Auditor, How to choose an auditor, Plan Sponsors
Plan sponsors and advisors, building a relationship with your 401k or benefits plan auditor is better than any questionnaire. Here’s why. No matter if you’re a 401(k) plan sponsor or advisor, you know your decisions have a major impact on plan administration and...
by cpaadmin | Feb 15, 2023 | 401k Audit Time
We know, nobody loves to do an audit. (If you did, you’d be working here.) 401(k) audits may look time-consuming, but nothing about them is left to chance. The more organized you are, the easier they can be. It’s never too late to take action and make things a little...