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Teuscher Walpole offers comprehensive Employee Benefit Plan (EBP) audit services to help ensure compliance with regulatory requirements and safeguard the assets of your employee benefit plans. We have the expertise and ability to audit any of the following benefit plans: including 401(k) plans, pension plans, health and welfare plans, and other employee benefit programs.
We understand that each employee benefit plan has unique characteristics and compliance requirements. Our team develops a tailored audit approach specific to your retirement plan, considering the plan type, size, and complexity. We work closely with plan administrators, trustees, and third-party service providers.
Our EBP audits are conducted following the applicable auditing standards, including Generally Accepted Auditing Standards (GAAS), the Employee Retirement Income Security Act (ERISA), and the Department of Labor (DOL) guidelines. We stay updated on changes in regulations and accounting standards to ensure your plan remains compliant.
We examine the operational aspects of your employee benefit plan to ensure compliance with plan documents, regulations, and statutory requirements. This process will include reviewing plan contributions, distributions, participant eligibility, vesting, plan investments, and other plan transactions. We verify that plan operations align with the provisions outlined in the plan document and applicable regulations.
Our team performs a comprehensive audit of the financial statements of your employee benefit plan. Our audit procedures assure plan sponsors, participants, and other stakeholders regarding the fairness and reliability of the financial statements.
We assess the effectiveness of internal controls related to your employee benefit plan. This will involve evaluating the design and implementation of controls over financial reporting, safeguarding plan assets, and compliance with regulatory requirements.
We provide guidance and consulting services throughout the audit process to help you address any compliance issues or concerns. We are available to help provide recommendations to resolve complex compliance matters.
We clearly and concisely report our findings and communicate audit results to management and plan administrators. Our team explains the audit procedures performed, identifies any issues or areas of concern, and provides practical recommendations for addressing any identified deficiencies.