Employee Benefit Plan Audits

Taking the necessary measures to ensure your plans remain in compliance.

Is your company’s Employee Benefit Plan (EBP) required to be audited? With an experienced team at Capossela Cohen, we can perform employee benefit plan audits when required to ensure your plan is fulfilling its responsibility to participants and is in compliance with the Department of Labor (DOL) and IRS standards and requirements.

With decades of experience and numerous plans audited annually, our team is committed to helping you receive the highest quality audit possible. If your company has not yet met the threshold for a required EBP audit, we suggest preparing early to ensure your plan is in compliance and tidying up internal controls to prepare for your official audit engagement when the time comes.

Defined Contribution Plans

The most common defined contribution plans for companies are 401(k) and 403(b) plans. Our team can audit your plan and prepare financial statements to ensure all requirements are met, and fulfillments are upheld. We will also review your plan’s Form 5500 filing prepared by third-party administrators.

Defined Benefit Plans

Many factors contribute to an employee’s defined benefit plan for retirement, such as salary and length of employment. With the varying factors contributing to defined benefit plans, you need a strategic and experienced team dedicated to the details to ensure your plan is in compliance.

ESOPs

Employee Stock Ownership Plans are a type of employee benefit plan offering employees ownership interest in the company. Given the regulation-heavy requirements for this EBP audit, our team’s experience and expertise are second to none.

The Capossela Cohen Commitment

Our EBP audit team is comprised of members of the American Institute of Certified Public Accounts Employee Benefit Plan Audit Quality Center (AICPA EBPQC) who attend regular professional education courses in EBP to remain competent and apprised of any regulatory updates to provide the highest quality audits for our clients. Every three years, firms that complete EBP audits are required to undergo a peer review to assess the quality of audit performance. We are happy to share our peer reviews for complete transparency when choosing us as your audit team.