Do you have issues or concerns about your employee benefit plan audit? Contact us with questions--we understand that performing employee benefit plan audits requires a specialized team of professionals, not audit generalists.
When is an Audit Needed?
Generally, federal law requires employee benefit plans with 100 or more participants as defined by ERISA to have audited financial statements attached to their Form 5500 filings. Smaller plans may also need to have an audit if they do not meet certain conditions exempting them from the audit requirement.
Qualifications
We have a core group of experienced personnel who perform all of our benefit plan audits, and there is extensive involvement of the engagement partner. In addition, we maintain the same personnel on the job from year to year. This approach allows us to efficiently and effectively complete the audit with limited disturbance to our clients.
Our employee benefit plan audit team has extensive experience performing audits of a variety of benefit plans: defined contribution, defined benefit, ESOP’s and health and welfare benefit plans.
Thornhill Financial, Inc. is a member of the American Institute of Certified Public Accountants' Employee Benefit Plan Audit Quality Center.
As a member of this group, we have voluntarily agreed to establish firm wide training and quality control programs, perform annual internal inspection procedures, make the firm's peer review report findings publicly available, and adhere to all other membership requirements.
Practice Leaders:
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