EMPLOYEE BENEFIT
PLAN AUDITS
EMPLOYEE BENEFIT PLAN AUDITS
401(k) and Employee Benefit Plan Audits
Employee benefit plan audits require specialized knowledge of ERISA, Department of Labor requirements, and the unique financial reporting standards that apply to benefit plans.
CKH Group provides specialized 401(k) and employee benefit plan audit services backed by more than 15 years of experience in this area. Our team has worked with employee benefit plans from both external audit and internal financial perspectives, giving us a practical understanding of the challenges plan sponsors, administrators, and HR teams face throughout the audit process.
As a leading CPA firm based in Atlanta, we take pride in offering 401(k) audits designed to:
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- Help maintain confidence in your plan’s financial informatiom
- Maintain regulatory compliance with ERISA
- Provide timely, efficient, and well-organized results
What Is a 401(k) Audit?
A 401(k) audit is an independent audit of an employee benefit plan’s financial statements and certain plan-related information. For plans subject to the audit requirement under ERISA, the audit generally accompanies the plan’s annual Form 5500 filing with the Department of Labor.
Because employee benefit plans operate under specialized accounting, auditing, and regulatory requirements, these engagements require auditors with experience specific to employee benefit plans.
Our commitment to Employee Benefit Plan Audit Quality
Through CKH Group’s acquisition of Jason F. Clausen, P.C., our audit practice now includes professionals with longstanding experience in employee benefit plan audits and participation in the AICPA Employee Benefit Plan Audit Quality Center. That background brings additional specialized knowledge, established quality-control practices, and more than 15 years of employee benefit plan audit experience to CKH’s growing assurance practice.
Because employee benefit plan regulations and reporting requirements continue to evolve, our auditors also stay current on changes affecting ERISA plans and Department of Labor reporting requirements.
What are the 401(k) Audit Requirements?
Generally, a 401(k) audit is required when a plan is classified as a “large plan,” typically once it reaches 100 or more participants with account balances at the beginning of the plan year. Certain exceptions, including the 80/120 Rule, may allow some plans near that threshold to continue filing as a small plan.
For a more detailed breakdown of participant counting, exceptions, and other warning signs, read our guide: 5 Warning Signs Your Business Needs a 401(k) Audit.
Other Types of Employee Benefit Plan Audits (EBP Audits)
Aside from 401(k)s, there are other items that may require an EBP audit. An employee benefit plan can include pension and profit sharing as well. These audits are intended to gauge the ability of the employee benefit plan to cover current and future benefits and payments. These audits must employ generally accepted audit standards (GAAS) and adhere to ERISA and Department of Labor regulations as well.
Why Choose CKH Group For Your Employee Benefit Plan Audit?
Employee benefit plan auditing is a specialized area of assurance, and experience matters. CKH Group has more than 15 years of experience performing employee benefit plan audits, including 401(k), pension, and health and welfare plans subject to ERISA. We have established audit methodologies and quality-control procedures and experience working with plan administrators, HR personnel, third-party administrators, and other service providers
Our goal is to make the audit process as organized and efficient as possible while maintaining the quality and attention these specialized engagements require.