From time to time, HR and Operation leaders review vendor relationships to ensure they are matched with the best partner for their needs. Atlanta plan sponsors that offer 401k, 403b, Defined Benefit and Employee Stock Ownership Plans (ESOP) are aware of the importance of selecting quality Plan auditors. As stated by the Employee Benefits Security Administration (EBSA), “a good quality audit will help protect the assets and the financial integrity of your employee benefit plan” and will prevent you from being “assessed a civil penalty for an incomplete, inadequate, or untimely audit report.” EBSA’s most recent audit quality study found that 39% of audits “contained major deficiencies with respect to one or more relevant Generally Accepted Auditing Standards (GAAS) requirements.” For this reason, reviewing an auditor’s qualifications is a critical step in selecting a plan auditor.
Our firm provides plan audits to over 50 benefit plans including 401(k), 403(b), and defined-benefit plans such as pension and cash balance plans. Our team also has experience with health and welfare plans and Employee Stock Ownership Plans (ESOPs).
- Comprehensive audit services of defined contribution (401k, 403b, etc.), defined benefit plans (pension plans) and ESOPs.
- Form 5500 preparation and review.
- Preparation and submission of 11k filings when required by the SEC.
- Plan tax compliance and consulting services.
- Fiduciary best practices.
- 401(k) plan “check-ups” to identify or prevent common operational deficiencies.
- Assistance with responses to notices or examinations from the Department of Labor or Internal Revenue Service.
- 401(k) plan design and consulting
Moore Colson provides retirement plan audits to companies located across Georgia including Atlanta, Macon, Savannah, Augusta, Columbus, and Athens.
