How Can Auditors NOT be Responsible for the Financial Statements?

Posted by Maria T. Hurd, CPA, RPA What Auditors Don’t Do In our previous blog, Testing the work of a specialist in a retirement plan audit: how much expertise does the financial statement auditor need?, I explained that auditors cannot be expected to perform or completely re-perform the duties of other professionals, like the actuary, ERISA attorney, third-party administrator, and … Continued

How much expertise does my auditor need?

Posted by Maria T. Hurd, CPA, RPA Testing the work of a specialist in a retirement plan audit: How much expertise does the financial statement auditor need?   Service providers to the employee benefit plan (EBP) industry are often highly intelligent people that talk in “code”: Internal Revenue Code and ERISA Regulation sections. The legislation that regulates retirement plans encompasses … Continued

Are Employer Matching Contributions for Student Loan Repayments Allowed?

Posted by Tyler Starr, CPA The IRS issued a private ruling on August 17, 2018, to allow an unnamed company to implement a new type of benefit for employees with student loan debt who were eligible to participate in its 401(k) plan. Prior to the private ruling, the company offered a 5% match contribution if employees contributed at least 2% … Continued

Changing Jobs? Are You Forgetting Something?

We live in an ever-changing world. Some areas which will most likely change many times during your lifetime include your car, job, the place where you live, your hobbies, your relationships with others, and even the organizations you associate with.