TWHC is committed to helping clients with their employee benefit matters, such as 401(k) plan audits, pension plan audits and other retirement plan issues. Our employee benefit plan engagement teams are composed of audit professionals and compensation and benefits professionals. These auditors and professionals are experienced in working with all forms of employee benefit plans, such as defined benefit and defined contribution plans, including 401(k) and 403(b) retirement plans, money purchase plans, and profit sharing plans.
TWHC is a member of the Employee Benefit Plan Audit Quality Center. The AICPA established the Employee Benefit Plan Audit Quality Center, a voluntary membership center for firms that audit employee benefit plans, to help CPAs meet the challenges of performing quality audits in this unique and complex area. Employee benefit plan audits include pension, health and welfare, and 401(k) plans subject to the Employee Retirement Income Security Act (ERISA) under the regulatory authority of the U.S. Department of Labor (DOL).
As a member of the Employee Benefit Plan Audit Quality Center, TWHC meets rigorous standards. Members must:
During a benefits plan audit, our auditors and professionals gain a thorough understanding of the plan and its internal controls in order to tailor our approach and achieve a cost-effective and collaborative audit. One area of particular focus is compliance monitoring. In order to comply with DOL and ERISA regulations, certain audit steps, which would not be required absent those regulations, are performed. In addition, as part of every employee benefit plan audit performed, a senior member of our compensation and benefits group performs a review of the IRS Form 5500, plan documents, compliance testing results and other information, focusing on assessing the accuracy of the IRS Form 5500 and compliance with certain DOL and ERISA requirements. Through this process we are able to provide valuable insight into the compliance activities of your plan and assist in avoiding compliance deficiencies.
For more information about how our range of retirement plan audit services can benefit you, feel free to contact us.