Limited Scope Audits
In addition to full-scope retirement plan audits, TWHC also performs limited scope audits, as allowed in specific circumstances by the Employee Retirement Income Security Act (ERISA).
In a limited scope audit, certified investments that meet qualifying standards are not reviewed or tested. Instead, the auditors rely on investment information that has been certified by other institutions. As a result, the auditor cannot provide an unqualified opinion on the plan’s financial statements as they would in a full-scope audit, and instead provides a Disclaimer of Opinion.
TWHC’s proven expertise in employee benefit plan auditing means we provide quality reports that help our limited scope audit clients stay in compliance with all ERISA requirements.