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Teuscher Walpole offers comprehensive Employee Benefit Plan (EBP) audit services to help ensure compliance with regulatory requirements and safeguard the assets of your employee benefit plans. Our experienced team of auditors specializes in auditing various benefit plans, including 401(k) plans, pension plans, health and welfare plans, and other employee benefit programs.
We understand that each employee benefit plan has unique characteristics and compliance requirements. Our team develops a tailored audit approach specific to your retirement plan, considering the plan type, size, and complexity. We collaborate closely with plan administrators, trustees, and third-party service providers to ensure a thorough and efficient audit process.
Our EBP audits are conducted following the applicable auditing standards, including Generally Accepted Auditing Standards (GAAS), the Employee Retirement Income Security Act (ERISA), and the Department of Labor (DOL) guidelines. We stay updated on changes in regulations and accounting standards to ensure your plan remains compliant.
We examine the operational aspects of your employee benefit plan to ensure compliance with plan documents, regulations, and statutory requirements. This process will include reviewing plan contributions, distributions, participant eligibility, vesting, plan investments, and other plan transactions. We verify that plan operations align with the provisions outlined in the plan document and applicable regulations.
Our team performs a comprehensive audit of the financial statements of your employee benefit plan. We verify the accuracy and completeness of the financial information, including plan assets, liabilities, revenues, expenses, and changes in net assets. Our audit procedures assure plan sponsors, participants, and other stakeholders regarding the fairness and reliability of the financial statements.
We assess the effectiveness of internal controls related to your employee benefit plan. This will involve evaluating the design and implementation of controls over financial reporting, safeguarding plan assets, and compliance with regulatory requirements. Our team looks for control weaknesses or areas for improvement and provides recommendations to strengthen internal controls.
Throughout the audit process, we provide guidance and consulting services to help you address any compliance issues or concerns. Our experienced professionals are available to answer your questions, provide recommendations, and assist with resolving complex compliance matters related to your employee benefit plan.
We clearly and concisely report our findings and communicate audit results to management and plan administrators. Our team explains the audit procedures performed, identifies any issues or areas of concern, and provides practical recommendations for addressing any identified deficiencies.
We are a trusted and experienced team of certified public accountants dedicated to providing our clients with exceptional financial and advisory services.