Understanding when and what type of a 401(k) audit is needed — and what that audit will entail — can help keep a company’s plan in compliance with IRS and Department of Labor requirements. Start by ...

Auditors "can provide feedback on the effectiveness of, and suggestions for improving, processes and controls in place related to fiduciary responsibilities and efficient and effective plan operations ...

An audit is the highest level of assurance a CPA firm can provide that the financial statements follow the generally accepted accounting principles (GAAP), or some other reasonable basis of accounting ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. As a savvy business executive, you’re tasked with ...

A U.S. Department of Labor (DOL) report released Thursday showed a need for improvement in audits of employee benefit plan financial statements. The report is the result of a study that examined ...

Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...

A global pandemic has not stopped multiemployer plans from conducting employer payroll audits. To the contrary, an uptick in the number of these payroll audits is noticeable. While employers are under ...

The annual audit plan outlines the audit projects and consulting activities that will be performed by the Office of Auditing and Consulting Services for the fiscal year. The plan is prepared using a ...

In a six-point plan released May 14, the AICPA describes extensive ongoing and new efforts to improve audit quality. Continued improvement in the quality of audits has long been a core focus of the ...

The American Institute of Certified Public Accountants (AICPA) issued a new audit standard for employee benefit plans in July 2019. The new standard is commonly referred to as SAS 136, but its ...