Employee Benefit Plan Audits

Benefit Plan Compliance Services

Members of our Employee Benefit Plan Services team go above and beyond the technical requirements of the audit process. Our experience, expertise and customer focus ensure that we will provide you with valuable recommendations to improve your internal processes and recordkeeping. We work with your personnel to ensure your plan is in compliance with the multitude of regulations related to benefit plans.
Employee Benefit Plan Audit

The firm is a member of the Employee Benefit Plan Audit Quality Center of the American Institute of Certified Public Accountants, a firm-based voluntary membership center for firms that audit employee benefit plans. This ensures that the services we provide to our valued clients are performed at the highest level of proficiency in the industry.

Center membership requirements guarantee that KWC audit personnel get access to the latest training and research materials affecting benefit plan compliance.

Requirements of Center membership include:

  • Designate an audit partner to have firm-wide responsibility for the quality of the firm’s ERISA employee benefit plan audit practice.
  • Establish a program to ensure employee benefit plan audit engagement personnel possess current knowledge, appropriate to their level of involvement in the engagement, of applicable professional standards, rules and regulations for ERISA employee benefit plan audits.
  • Require the audit partner designated with firm-wide responsibility for the quality of the firm’s ERISA employee benefit plan audit practice to participate in an annual Center-sponsored Designated Partner planning webinar on recent developments in employee benefit plan auditing each year.
  • Establish policies and procedures specific to the firms ERISA employee benefit plan audit practice to comply with the applicable professional standards and Center membership requirements. These policies and procedures must be documented and appropriately communicated.
  • In addition to meeting the quality control standards requirement for monitoring, establish annual internal inspection procedures that include a review of the firms ERISA employee benefit plan audit practice by individuals possessing current experience and knowledge of the accounting and auditing practices specific to ERISA employee benefit plan audits.
  • Have its’ ERISA employee benefit plan audits selected as part of the firm’s peer review.
  • Periodically file with the Center information about the firm and its ERISA employee benefit plan audit practice, and agree to make such information available for public inspection.

Our Benefit Plan Audit Services

We provide full scope and DOL limited scope audits for the following plan types:

  • 401(k) Plans
  • Defined Contribution Plans
  • 403(b) Plans
  • Defined Benefit Plans
  • Employee Stock Ownership Plans
  • Health and Welfare Plans
  • Section 457 Governmental Deferred Compensation Plans
  • Profit Sharing Plans
  • Money Purchase Pension Plans

KWC specializes in providing tax, audit, accounting and business advisory services for businesses, individuals, estates, trusts, non-profit organizations, and employee benefit plans. Our diverse client base served includes industries such as professional service firms, government contractors, non-profits, real estate, construction and specialty contractors, and healthcare providers.

For more information on Employee Benefit Plan Audit services at KWC contact:
Joanna Friedman or Jenna Manster