by cpaadmin | Aug 18, 2021 | 401k Audit Firm, 401k Compliance Error, 401k Plan Audit, 401k Plan Audit Documentation, Audit Procedures, Eligible compensation discrepancies, Employee Corrective Contribution
It happens… you’ve performed your audit and discovered some discrepancies. If you’ve ever found yourself in this position, you’re definitely not alone. In fact, eligible compensation errors are so common that they’re included in the IRS...
by cpaadmin | Jul 22, 2021 | 401k Audit Firm, 401k Plan Audit, 401k Plan Audit Documentation, Merger & Acquisitions, Plan Sponsors, Record Retention, Retirement Plan
Congratulations to your organization, on selling (or buying) a business! Now comes the fun part: Figuring out what to do with all of those employee records. When you’re a 401(k) retirement plan sponsor, the question of what to retain through the merger and...
by cpaadmin | Apr 19, 2021 | 401k Audit Firm, 401k Plan Audit, Audit Procedures, Personal Protected Information, Virtual Audits
With more people than ever working from home, the convenience and ease of digital filing systems are more relevant than ever. This fact was driven home early last year when the COVID-19 pandemic hit. As offices locked down, our team at Cassell Plan Audits quickly...
by cpaadmin | Mar 20, 2021 | 401k Audit Firm, Personal Protected Information, Virtual Audits
When the pandemic hit in 2020, some of our customers faced an unexpected curveball. We’ve been doing virtual 401k audits for years, but many companies had maintained their relevant audit records on paper … until last year. COVID revealed a compliance gap that hadn’t...
by cpaadmin | Feb 15, 2021 | 401k Compliance Error
Errors with eligible compensation—or, the income that counts toward your 401k retirement plan—were the number one compliance issue we saw in the 2020 audit season. It’s counterintuitive, because the definition of “eligible compensation” is dictated by the employer...
