Employee Benefit Plans
Auditing employee benefit plans is complex and requires specialized experience. Complex rules and regulations from the Department of Labor (DOL) require that organizations choose the right audit provider for their benefit plans. A comprehensive audit can help uncover not only financial matters, but also compliance issues related to the operation of the plan.
Grossman Yanak & Ford LLP audits numerous employee benefit plans annually, performing full and limited-scope audits for single and multiemployer plans that have as many as 17,000 participants and $250 million in income.
We can provide you with benchmarking information and offer suggestions to help improve internal controls. We take the lead to coordinate with the plan sponsor, trustee and administrator, to facilitate accurate completion of the annual audit process.
The firm’s membership in the AICPA’s Employee Benefit Plan Audit Quality Center assures you that our processes comply with professional standards and regulations for ERISA audits.
We provide the following assurance, tax and consulting services for employee benefit plans:
Assurance & Advisory Services
- Audits of single, multiemployer and multiple employer plans, including:
- Defined contribution plans, including 401(k) plans
- Section 403 (b) tax shelter annuity plans
- Section 457 deferred compensation plans
- Defined benefit pension plans
- Health and welfare benefit plans
- Voluntary employee benefit associations
- Specialized services for health insurance purchasing groups
Tax Advisory & Compliance Services
- Annual report of employee benefit plans (Form 5500) for all types of benefit plans,
including retirement and welfare benefit plans
- Services surrounding Form 990 for voluntary employee benefit associations