Employee Benefit Plan Audit Group
Audits of employee benefit plans involve more than a financial audit of plan assets. The guidance and knowledge provided by our EBP Audit Group professionals is critical to Plan Sponsors, given the incredible amount of fiduciary responsibility involved. A quality audit will help protect the assets and the financial integrity of your employee benefit plan and ensure that the necessary funds will be available to pay retirement benefits to your employees. A quality audit also will help you carry out your legal responsibility to file a complete and accurate annual return/report for your plan each year. Because an incomplete, inadequate, or untimely audit report may result in penalties being assessed against you as the plan’s administrator, selection of an experienced and reliable auditor is critical. If your employee benefit plan is required to have an audit, one of the most important duties as a plan administrator is to hire an independent qualified public accountant.
Since the late 1990’s Deemer Dana & Froehle LLP has focused on audits of qualified employee benefit plans through our EBP Audit Group. Our team of CPAs is dedicated to employee benefit plan audits and we actively train through professional educational development assuring our clients that their Deemer Dana & Froehle LLP EBP audit team has a complete and practical understanding of current issues, ever-changing accounting and auditing standards, and government regulations. Understanding employee benefit plans requires an in-depth technical knowledge of the procedures and practices regarding such plans, along with the wide-ranging insight that only hands-on experience affords. Our specialization also allows Deemer Dana & Froehle LLP a high level of efficiency to offer a quality audit at a fair price.
With a combined 25 years of experience in performing employee benefit plan audits, we presently provide audit services for over 20 employee benefit plans throughout 5 states. Our EBP Audit Group is led by Kathleen Spear, Senior Audit Manager and Shanon Royal, Audit Supervisor, who bring many years of specialized experience preparing audits of retirement plans, for both for-profit and non-profits entities. Our EBP Audit Group currently has 5 team members who have performed employee benefit plan audits for plans ranging in size from $100,000 to $350,000,000. We plan and execute our audits in a way that maximizes audit efficiency and quality and we offer your plan administrator and human resources personnel confidence in their plan reporting and management.
As a member of the American Institute of CPAs Employee Benefit Plan Audit Quality Center, we are committed to adhering to the highest quality standards by voluntarily agreeing to the Center membership requirements, which include designating a partner responsible for our employee benefit plan audit practice, establishing quality control programs, performing annual internal inspection procedures, and making our peer review report findings publicly available.
At Deemer Dana & Froehle LLP our goal is to continue to enhance our quality initiatives within our employee benefit plan audit practice to deliver the highest quality audit services possible.
Service Offerings: - Qualified Plan Audits
- Defined Contribution Plans
- Defined Benefit Plans
- Health & Welfare Plans
- Multi-Employer Plans
- ERISA Reporting & Disclosure
- Financial Statements
- Footnotes
- Supplemental Schedules
- Review and/or Preparation of IRS Form 5500
Our EBP Audit Group specialists not only stay current in this highly technical practice area by attending various continuing education programs but we also attend the annual AICPA National Conference on Employee Benefit Plans and other relevant seminars.
Please contact any member our EBP Audit Group Team Members:
Kenneth Wood, CPA, Audit Partner, kwood@ddfcpas.com
Kathleen Spear, CPA, Senior Audit Manager, kspear@ddfcpas.com
Shanon Royal, CPA, Audit Supervisor, sroyal@ddfcpas.com
Randall Webb, CPA, Audit Senior, rwebb@ddfcpas.com
Avoiding Traps When Economizing With Your Retirement Plans
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