EMPLOYEE BENEFIT PLAN AUDIT
What is an Employee
Benefit Plan Audit?
An employee benefit plan audit should form
an opinion that the financial statements of
a plan are presented fairly.
The engagement of an independent, certified
public accountant to perform an audit of an
employee benefit plan's financial statements
comes under the requirement of ERISA Section
103, and applies primarily to large plan
filings, as defined below.
The basic determining factor as to whether
or not a plan is considered to be a "large
plan" is the number of eligible participants
as of the first day of the plan year, and
this factor must be reassessed at the
beginning
of each plan year.
In general, subject to certain exceptions, a
plan is considered a "large plan" and
audited financial statements must be
attached to the Form 5500 filing for defined
contribution plans with 100 or more
eligible participants on the first day of
the plan year. *
*Plans with fewer than 100 eligible
participants at the beginning of the plan
year, are considered to be a small plan for
filing purposes. Audited financial
statements are not required for a small plan
filing if specific requirements are met
under the small pension plan security
regulation.
Why Goldin Peiser & Peiser?
The rules and regulations governing
benefit plan compliance grow increasingly
complex every year. Accounting and reporting
requirements, governmental regulations, and
changes in plan administration foster the
need for specialized services.
At Goldin Peiser & Peiser, LLP (GPP), our
services are cost-effective and reflect a
high degree of specialization, training and
commitment to benefit plan compliance. We
provide you with meaningful results
and important insights that add value to
your plan.
As you consider meeting your fiduciary
responsibility and your options for a plan
auditor, consider the experience, commitment
and value that GPP can offer.
Determine Your Need
Resource for Expertise
Bank on Results
Accomplish Your Objectives
Contact Allan Peiser, Managing Partner, at 214-635-2503. |
