Our Expertise
Recognized for our audit expertise, recommended for our service
As one of the largest benefit plan auditors in the nation, we have a long-standing reputation for delivering world-class benefit plan audit services. We audit over 1,600 plans and $175 billion in plan assets annually. Our plan audit experience includes plans that range from less than $1 million invested to more than $24 billion, with master trusts holding investments over $50 billion. Our experience with plans of all sizes and designs means we have vast expertise identifying and resolving all types of plans, as well as audit, reporting, and disclosure issues.
To demonstrate our commitment to quality benefit plan audits, we’re part of AICPA’s Employee Benefit Plan Audit Quality Center (EBPAQC), holding our firm to a greater degree of scrutiny to ensure the highest level of audit quality. We also have long-term, professional relationships with the Department of Labor, Internal Revenue Service, and the Pension Benefit Guaranty Corporation.
We’re committed to providing a virtually pain-free audit
Our benefit plan auditors have developed a time-tested proprietary approach with exceptional client service, best-in-class technology resources, and a collaboratively driven process to ensure you have a virtually pain-free audit for your organization.
Reach out today to find out how we can help with:
We’ve assisted clients with 403(b) plans long before they were required by the DOL. Our audit experts have expertise in the not-for-profit and religious, healthcare, higher education, and municipal and governmental industries.
From traditional plans to cash balance plans and plans where benefits are linked to a defined contribution plan, our audit approach ensures a thorough, cost-effective process. Specializing in both limited and full-scope defined benefit plans, we’ll make sure to address the distinct nuances of each plan. We often collaborate with our public plan practices to achieve best-in-class results.
Defined contribution plans
With over 1,200 defined contribution plans audited annually, you can trust the breadth of our experience and diversity of plans we cover — including profit-sharing, money purchase pension, and stock bonus plans.
Health & welfare benefit plans
These plans are synonymous with the word “complicated” due to many different types of benefits provided, ranging from medical and dental to unemployment and disability. We’re up for the challenge. We audit various types and sizes of health and welfare plans, including defined benefit, defined contribution, self-insured, fully insured, or partially self-insured health plans.
Multiemployer plans, also known as Taft-Hartley funds, present unique administrative, governance, reporting, and auditing issues. We leverage technology to identify and focus on higher risk areas in multiemployer plans, including payroll audits, collectability of receivables, cost sharing, and actuarial present value of accumulated benefits/benefit obligations, including related census testing.
Multiple employer plans (MEPs)
MEPs and pooled employer plans (PEPs) are becoming more popular as a way to eliminate the administrative burden on employers. You need an auditor who understands the nuances of MEPs and PEPs. We have the knowledge and experience to efficiently audit these plans.
11-K financial statements
We have a long history of auditing 11-Ks for SEC filings, from smaller, simpler plans, to 11-K plans with billions of dollars in assets, leveraged ESOP options, and synthetic GICs. Our team can focus on your 11-K filing while the corporate auditors focus on the corporate filings, ensuring all SEC filings are done timely.
Employee stock ownership plans (ESOPs)
We combine our technical expertise with our deep understanding of the reporting requirements of ESOPs. Our auditors work side by side with our internal valuation and ESOP compliance experts to ensure the audits are performed smoothly without any last-minute surprises.
Governmental retirement systems
We understand your plans, your needs, and the auditing challenges, particularly under GASB’s pension and OPEB standards. Our full-service capabilities mean we can also help you address your technology, cybersecurity, and risk management needs.
Our experienced team of Canadian benefit plan audit specialists works with one of our Praxity affiliate firms to provide a seamless coordinated effort. We understand the specific regulatory reporting requirements, key providers, and full-scope audit requirements in Canada.
Form 990 & 990-T expertise
Has your organization pursued alternative investments to boost returns and increase portfolio diversification? Alternative investments often produce unrelated business taxable income that requires additional tax filings. We can help you prepare Forms 990 and 990-T annually, as well as the related Forms 926, 8621, 8865, 8886, and 5471 to completely and accurately reflect your activities and maximize transparency and minimize exposure to tax penalties.
Financial statement preparation
We can be your ally for financial statement preparation. Our degrees of service are flexible and scalable, including preparation of financial statements from third-party trial balance and preparation of financial statements from trial balance using client and third-party information. Additionally, we can help with supporting schedules/workpapers and back-office-type support.
Fair market value analysis
Our team of experts can assist with gathering and summarizing support for fair value of alternative investments. We can also assist with determining fair value and any potential adjustments caused by lag reporting.
With over 750 Forms 5500 prepared annually, you can rest assured the IRS and DOL will have all the information needed for your plan’s operation and compliance with government regulations. We can help by providing a customized data request, preparing Forms 5500, 8955-SSA, and SAR, and providing electronic copies at completion.
We can assist with requesting Schedule C and/or A information from vendors, reviewing and analyzing responses, preparing applicable schedules, and reconciling Schedules C and H.
Public retirement systems
We understand the unique audit and consulting needs of public retirement systems, particularly under GASB’s pension and OPEB standards. We audit more than 110 public retirement systems, and work with all types of plans, including defined benefit plans, defined contribution plans, VEBAs, single employer plans, cost-sharing and agent plans.
