We offer dedicated personnel and significant resources focused on compliance, enforcement, accounting and operational issues. The types of plan audits we perform include:
- Defined contribution, including 401(k), 403(b), & ESOP plans
- Defined benefit plans
- Health & welfare plans
- Limited & full scope
- 11-K audits
- Single & multi-employer
CSH is a member of the AICPA Employee Benefit Plan Audit Quality Center, a standing available to select firms who meet requirements specific to policies and procedures for the employee benefit plan audit practice, and internal inspection. Our team is led by Jim Haubrock, a nationally recognized specialist and Chair of the Executive Committee of the Employee Benefit Plan Audit Quality Center. Our recent DOL examination resulted in no comments – an extraordinary achievement in this time of frequent plan audit failures.
Unlike other public accounting firms, who view employee benefit plan projects as “filler” work or training camp for junior auditors, CSH has a critical mass of seasoned accountants who perform benefit plan work as their primary specialty area and participate in a minimum of eight hours of EBPA training annually. Our commitment to our clients is year-round. The result is a low-turnover rate of professionals who are subject experts.
Our Approach to Audits
The process begins with the assignment of an engagement team experienced with auditing employee benefit plans. Because our dedicated professionals utilize a proven protocol designed to ease transitions, your staff is not continuously pulled off task to help us with the audit.
Our structured audit approach includes:
- Meeting with key employees to understand your employee benefit plan operations
- Contacting and working with the plan administrator to request essential items
- Developing an audit plan to meet your specific schedule & filing requirements
- Conducting the audit at your business site to enhance communications & efficiency
- Identifying any regulatory & fiduciary issues to discuss with your management & plan governance
Qualified Plan Administration & Consulting
Our Qualified Plan Administration and Consulting Group is a third-party administrator of employee benefit plans. If you are considering a TPA, we can review your plan to determine if your goals are being met, as well as look for ways to save money for you and your plan participants.
A recent Department of Labor Audit Quality Study found that experience counts. The graphic below illustrates the deficiency rates they observed, broken down by the number of plans audited annually by firms.