Art of the Qualified Plan Audit

On April 19th, the IRS issued an update to the EPCRS which expands the Self-Correction Program (SCP) to cover certain plan loan failures.

Posted by Maria Hurd, CPA Disclaimer: All blog posts are valid as of the date published. In a highly regulated industry with complicated rules that always have exceptions (except when the exception does not apply) it is inevitable that sooner or later a failure to follow the plan document will take place. Such operational errors … Continued

The Auditing Standards Board (ASB) has released a Final Balloted Draft of Statement on Auditing Standards, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA ( Final Balloted Draft).

The IRS is striving to make the process of taking hardship distributions “a little less hard” through proposed regulation issued on November 14th, 2018, ushered by the Bipartisan Budget Act of 2018 (BBA).

In the 14th century epic poem the Troilus and Criseyde, Geoffrey Chaucer portrays a tragic love tale between Troilus, a Trojan warrior, and Criseyde, the daughter of a Greek fortuneteller.

When auditors identify operational errors, clients and service providers often ask whether we can ignore them since they are immaterial to the financial statements. 

There has been a lot of talk about changes brought by the Tax Cuts and Jobs Act (Tax Act) that President Trump signed last December.

In “The DOL can use large retirement plan filings to uncover missing welfare plan filings”, we discussed the importance of plan sponsors not forgetting to file a Form 5500 for their health and welfare plans when filing the annual Form 5500 for their retirement plan.

I recently heard a discussion about variances on how people pronounce certain words.

As required by IRC Section 415, the IRS has announced cost-of-living adjustments that should be noted for retirement planning purposes.