Your employee benefit plan doesn’t just attract and retain high quality personnel; it provides them with a path to a more secure financial future. They rely on you to protect the assets and financial integrity of those plans so they can be prepared for retirement.
It’s your responsibility to manage your plan and its assets, monitor service providers and make sound financial decisions. And with your employees’ futures at stake, you want to do the best you can to deliver on your promise of a viable and generous plan.
An employee benefit plan audit (commonly referred to as a 401(k) audit) provides this reassurance by validating your plan’s financial statements and assessing its operations. It also boosts the likelihood that your plan will stand up to a U.S. Department of Labor audit—a valid concern given the recent increase in the number of plans selected for federal scrutiny.