Art of the Qualified Plan Audit

Each year, I review the audit requirement rules with pension professionals in all the specialties: investment advisors, third party administrators, recordkeepers, plan consultants, and more. This year, after our conversation, Renee Mrosowski from Summit Group Retirement Planners sent me an excellent summary of our conversation for my review. Her clear methodology is worth sharing, so … Continued

Posted by Tyler J. Starr, CPA If you’re gearing up for your first 401(k) audit, you might be wondering what information the auditor will need. To help you get ready, we’ve put together a sample checklist of documentation needed for a 401(k) or 403(b) plan audit. Keep in mind that your auditor will customize requests … Continued

Nervous apprehension tends to overwhelm new 401(k) audit clients who don’t know how involved they will need to be in the document production for the audit. Often, they are hopeful that one or more of their service providers will “take care of everything” as they promised. The bottom line is that the extent of the … Continued