One of the most important functions required by every Taft-Hartley trust fund is the annual audit. To provide Taft-Hartley funds with the professional services they require, a seamless relationship between the certified public accountant (CPA) and the third-party administrator (TPA) is essential. But the functions of each are quite different— and sometimes the relationship isn’t as smooth as it might be.
The authors, an experienced CPA and the president of a TPA, write candidly about their experiences working together and with other similar organizations. They asked each other: What do you like? Where is there room for improvement? Their answers provide both positive and constructive feedback.
Lonnie Maxwell-Cook explores how to make the relationship between CPA firm and third-party benefits administrator more effective in the January 2016 issue of IFEBP Benefits Magazine.