Employee Benefit Plans

Independent audits of employee benefit plan financial statements are an important accountability mechanism. According to the AICPA, one of the most common reasons for deficient accountants’ reports is the failure of the auditor to perform tests in areas unique to employee benefit plan audits. At Grau & Associates, we are familiar with benefit plan practices and operations, as well as the special auditing standards and rules that apply to such plans. While audited financial statements are a legal requirement for most plans with over 100 eligible participants, our auditors look beyond the compliance aspects to perform testing that truly scrutinizes your plan’s controls.

We understand the complexities involved with employee benefit plans. Our professionals have served single-employer and multi-employer plans of varying sizes and structures. Our services are tailored to the specific requirements of each unique benefit plan we audit, including compliance with ERISA and Department of Labor requirements.

We provide audit and assurance services to the following types of employee benefit plans:

  • Defined Contribution Plans
    • 401(k)
    • 403(b)
    • Employee Stock Ownership Plans (ESOPs)
    • Profit‐Sharing Plans
  • Defined Benefit Plans
  • Single or Multiple Employer Plans
  • Limited or Full Scope Audits

According to the U.S. Department of Labor (DOL), selecting the right auditor for your employee benefit plan audit is vital to the protection of your company and employees. Avoid the risks and penalties by only considering the lowest bids. A high‐quality audit by an experienced firm like Grau & Associates can assist in protecting your plan and help you monitor available funds to pay future benefits to your employees.

For more information about our Employee Benefit Plan Audit Services, please contact us.

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