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​Many companies find that while their team has the ability and expertise to prepare their benefit plan’s financial statements, they may not have the resources to do so timely and completely.  Plante Moran has a team of experts ready to assist in the preparation of financial statements.

Financial Statement Preparation

Expertise to ensure benefit plan financial statements meet reporting requirements

Many companies find that while their team has the ability and expertise to prepare their benefit plan’s financial statements, they may not have the resources to do so timely and completely.  Plante Moran has a team of experts ready to prepare financial statements each year that comply with accounting principles generally accepted in the United States of America (GAAP), as well as the Department of Labor’s Rules and Regulations under the Employee Retirement Income Security Act of 1974 (ERISA), if applicable.  For some of these compilations, our services extend to the preparation of detailed trial balances, supporting schedules, and workpapers to assist companies with an efficient review and the ability to take ownership of the financial statements before providing them to their auditors to audit.  You will set the scope of work we perform, which can vary depending on your staff resources and your particular needs.

SEC 11-K financial statements

For many public companies, outsourcing the preparation of their SEC 11-K financial statements and the supporting trial balances and schedules is an efficient way to ensure their financial statements comply with the reporting and disclosure requirements applicable to benefit plans. When Plante Moran does not audit the plan, our staff can compile the financial statements. If desired, we will also work with your benefit plan auditors to help ensure a smooth audit.

With 11-K filings, the Securities and Exchange Commission (SEC) independence rules specifically prohibit the plan auditors from compiling financial statements as part of the 11-K audit engagement. 

You will benefit from Plante Moran’s benefit plan knowledge

We allocate substantial resources to ensure our benefit plan audit staff is trained in reporting and disclosure requirements unique to the benefit plan industry. Our extensive training for new staff and continuing education for experienced staff provides clients the assurance of knowledgeable benefit plan auditors. This allows our benefit plan team to keep you up to date on the ever-changing disclosure requirements.  With Plante Moran, you can be assured that your benefit plan's financial statements will meet the requirements of GAAP, the SEC, if applicable, and the Department of Labor.

You will enjoy working with the Plante Moran benefit plan team. Clients tell us our benefit plan knowledge, continuity of staff, responsiveness, and positive attitude make every project easier.

The U. S. Department of Labor advises: ​

One of the most common reasons for deficient accountants’ reports is the failure of the auditor to perform tests in areas unique to employee benefit plan audits. The more training and experience that an auditor has with employee benefit plan audits, the more familiar the auditor will be with benefit plan practices and operations, as well as the special auditing standards and rules that apply to such plans.