Client Services

Accounting and Attestation Services

Employee Benefit Plan Audits

There’s No Substitute for Auditing Experience

Federal law requires employee benefit plans with 100 or more participants to hire an independent qualified public accountant to conduct a quality audit. This is in accordance with the Employee Retirement Income Security Act of 1974 (ERISA) and U.S. Department of Labor (DOL) requirements.

Due to the complexities of these laws, conducting an employee benefit plan audit requires special expertise. A qualified CPA can provide advice on operational efficiencies, asset management, fiduciary responsibilities, litigation avoidance and proper plan administration.

LLG is an Experienced Benefit Plan Auditor

Together our dedicated benefit plan audit team has more than thirty years of experience. We rely on this experience to conduct your employee benefit plan audit. Changes in regulations, professional standards and best practices require us to master the latest knowledge and training to conduct the audits.

LLG is a member of the American Institute of CPAs (AICPA) Employee Benefit Plan Audit Quality Center. Membership requires compliance with rigorous standards and practices specific to employee benefit plan audits. All ERISA employee benefit plan audit personnel must know current standards and practices. LLG has successfully completed all peer reviews since the AICPA’s Peer Review program began.

What You Can Expect

An employee benefit plan audit must be comprehensive to meet standards set forth by the AICPA. You can expect auditors to review payroll records, participant documents, loan plans and hardship withdrawals. Auditors will also determine if plan contributions comply with the document plan provisions. We will evaluate the funding status and methods used for allocated defined plan contributions.

“A quality audit can keep employers or plan sponsors out of expensive legal issues with plan participants. Savvy employers/plan sponsors understand the significance of their fiduciary responsibilities to the plan, and don’t cut corners on the selection of an auditor.”
–Bruce Horwitz, LLG Partner

Start a conversation.

Request a quote from LLG on an employee benefit plan audit.