Employee benefit plan audits that are compliant with ERISA and the Department of Labor (DOL) can be complicated to navigate. Windham Brannon understands the intricacies of compliance when it comes to your employee benefit plan audit, and we bring our technical expertise to deliver quality and minimize disruptions for every engagement. We provide high-quality and timely audits for 401(k) plans, 403(b) plans, 11-K filings, profit-sharing plans, employee stock ownership plans (ESOPs), health and welfare plans as well as defined benefit pension plans, using our expertise to perform ERISA audits that are in full compliance with the DOL.
Windham Brannon understands that each employee benefit plan is unique. You need confidence in choosing an independent audit provider that has the right audit firm expertise and quality. We are a member of the American Institution of Certified Public Accountants (AICPA) Employee Benefit Plans Audit Quality Center (EBPAQC), meaning we demonstrate a recognized commitment to quality benefit plan audits.
If your benefit plan serves 100 or more participants, you most likely need to file Form 5500 to disclose details about the plan. We take the utmost care in preparing, managing and maintaining compliance for the Form 5500 to report on the quality and condition of your plan’s investments and operations.
In 2021, the DOL issued guidance for best practices to address cybersecurity risks tied to benefit plans. This means plan sponsors now have an obligation to ensure the mitigation of such risks – part of this obligation may include a System and Organization Controls (SOC) 1 audit. Our professionals conduct a thorough SOC 1 audit and report of 401(k) record keepers to provide assurance that appropriate controls and processes are in place to safeguard the security of your plan.
ESOPs can be an exciting opportunity for your business, but their plan structure can also bring unique challenges. Our experts can help you navigate both the opportunities and the challenges of an ESOP, whether you are working through the details of an existing one or considering an ESOP for the first time.
Best Practices for a Painless 401(k) Audit
Anne Morris
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