The Employee Retirement Income Security Act (ERISA) generally requires employee benefit plans with 100 or more participants to have an independent audit as part of their obligation to file their annual Form 5500 series return/report.
Independent audits of employee benefit plans are an important accountability mechanism as they provide independent, third party reports to participants, plan management, the Department of Labor (DOL) and other interested parties.
The DOL and ERISA hold the plan administrator responsible for hiring a qualified independent employee benefit plan auditor to ensure that the plan audit is performed in accordance with their requirements.
McSoley McCoy & Co. currently audits over 120 benefit plans annually and is very familiar with the required auditing procedures and regulatory reporting requirements.
The benefit plan audit services specialists at McSoley McCoy & Co. are committed to providing quality and outstanding service. Our emphasis is to ensure your plan is being served by qualified professionals who not only can provide the compliance audit services that you require, but can also provide communication of audit results that goes beyond the standard auditors’ report.