Employee Benefit Plans

As an employer, you may provide benefit plans for your employees for a variety of reasons. Employee benefit plans can help attract employees, help employees secure their financial future, and improve job satisfaction and employee retention.  While sponsoring an employee benefit plan provides plenty of benefits, it also comes with certain responsibility and risk. If you sponsor a 401(k) or 403(b) plan, health and welfare plan, profit sharing plan, or defined benefit plan, federal law may require you to obtain an annual independent audit. Plans with 100 or more eligible participants are required to complete an annual audit. Failure to complete an audit can result in significant penalties against the plan sponsor.

What if you sponsor a small plan? Do you still need an audit? While plans with under 100 participants may not require an audit, they can certainly benefit from periodic audits or third party reviews. There is risk related to fiduciary misconduct or mismanagement with any size plan. Even for small plans, an annual review is critical to mitigating potential risk and ensuring that your plan is managed properly.

How can KerberRose help? Whether you are required to undergo an annual audit or simply want to mitigate risk and ensure you are fulfilling your fiduciary responsibility, our employee benefit plan audit team can help. We combine knowledge, experience and independence with a proven process that makes benefit plan audits as efficient and painless as possible for our clients.

Our dedicated team with industry specific knowledge provides employee benefit plans services that include:

Assurance and Accounting

  • Financial statement audits
  • Financial statement reviews

Tax

  • Form 5500 preparation

Business Advisory

  • Evaluating compliance with regulations
  • Reviewing fiduciary responsibilities
  • Plan selection and design
  • Assistance with Department of Labor requests

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