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Employee Benefit Plan Audit

Employee Benefit Plan Audit

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dedicated employee benefits practice

A 2015 Department of Labor study, “Assessing the Quality of Employee Benefit Plan Audits,” found serious problems with nearly 40% of employee benefit plan audits. The study reports that the size of an independent accounting firm’s employee benefit plan practice correlates with the audit quality. Deficiencies with audits were less common with firms auditing more than 100 plans per year.

LBMC audits approximately 300 employee benefit plans annually. As a top 40 benefit plan auditor in the nation, our in-depth knowledge includes ongoing training, guaranteeing a keen understanding of the latest technical and financial requirements. This experience also allows us to tailor our audit approach to the needs and characteristics of each client.

Our Areas of Employee Benefit Plan Audit Specialization

  • Defined Contribution Plans
    • 401(k) Plans
    • SEC Form 11-K Filings
    • 403(b) Plans
    • Profit Sharing Plans
  • Defined Benefit Plans
    • Pension Plans
    • Money Purchase Pension Plans
  • Health and Welfare Plans
  • Employee Stock Ownership Plans (ESOP)
  • Form 5500 preparation

Selecting a Plan Auditor

When evaluating auditors, look for an experienced firm:

AICPA Employee Benefit Plan Audit Quality Center Member

Preparing for Your First Employee Benefit Plan Audit

Guide to planning an Employee Benefit Plan Audit

Download our 19 page guide that walks you through the process of an initial plan audit, including the selection of your plan auditor.

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