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Adding value to your audit – what sets Clark Schaefer Hackett apart

October 16, 2015

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A quality audit involves more than just dotting the i’s and crossing the t’s. Your auditor needs to listen to your concerns, communicate effectively and respond quickly. The auditing process must also be tailored to your organization and your plan. Above all else, an audit should not be solely a problem-finding mission. It should balance the identification of errors with the recommendation of solutions, and the auditors must work with you to create a viable strategy to improve your plan and protect your plan assets.

At CSH, we don’t just audit your plan – we strengthen it.

What sets Clark Schaefer Hackett apart?

Clark Schaefer Hackett stands out because we provide:

  1. Experience
  2. Third Party Administration (TPA)
  3. A broad network
  4. Fraud protection
  5. Solutions
  1. Experience – CSH has decades of hands-on auditing and consulting experience with a national network of related resources – like the DOL, IRS and AICPA. We are one of the top 30 firms nationally that audit employee benefit plans, and our practice continues to grow. Auditing nearly 300 plans annually, our size puts us among the firms with the lowest deficiencies. Each year, our auditors attend top-level conferences and provide thought leadership to our clients. At a time when the DOL speculates that 30% of employee benefit plan audits are deficient, our clients can feel confident. We are inspected regularly as part of the DOL inspection program.
  1. TPA – Unlike many audit firms, CSH has a third-party administration practice: the Qualified Plan Administration and Consulting (QPAC) group. We don’t just identify problems during an audit – we provide guidance and solutions.

We offer:

  • More than 40 years of administration experience
  • Premier compliance knowledge
  • In-depth consulting
  • Customized plan recommendations

Joining the TPA and CPA sides of the business means CSH can provide more value for clients.

  1. A broad network – Our auditors have access to a wide range of national experts, including personal contacts at the DOL and the IRS. This keeps CSH and our clients at the forefront of regulations and audit guidance and helps ensure that each plan audit is completed accurately, and all related forms are filed correctly.
  1. Fraud protection – Firms that aren’t well-versed in retirement plans can miss warning signs of fraud, which include:
  • Mistakes on account statements
  • Unauthorized investments
  • Unusual transactions

The retirement plan could seem fraud-free, but CSH can spot the warning signs under the surface.

  1. Solutions – With CSH, the audit process is equally focused on providing solutions. More than just pointing out errors, our goal is to work with you to remedy, resolve and correct them. Our team can also assist with many benefit plan areas, including plan compliance, Affordable Care Act provisions, plan design, mergers, and acquisitions.

The value of a quality audit goes far beyond compliance. Working with the right auditor can reduce risk and offer plan fiduciaries peace of mind. If you’d like more information on our audit approach that delivers results, request a free executive-level fiduciary assessment with a CSH advisor.

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

Guidance

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