Employee Benefits Plans Audit
At FHH, we are committed to providing high quality, cost-effective audits of employee benefit plans. We have a dedicated team of auditors that possess an in-depth knowledge and understanding of the compliance and reporting requirements of the Employee Retirement Income Security Act (ERISA)
Years of Audit Experience
Farber Hass Hurley LLP have over 20 years of experience auditing employee benefits plans.
Employee Benefits Plans Audits
Ensuring compliance with standards and regulations that may impact their plan and fiduciary responsibilities.
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Clients Peace of Mind
Our expertise, combined with Big Four firm experience, gives our clients the peace of mind.
Employee Benefits Plans
Audit Excellence
We are members of the American Institute of CPAs (AICPA) Employee Benefit Plan Audit Quality Center. This membership requires adherence to higher standards of audit quality in the policies, procedures, and training related to the performance of benefit plan audits. These standards are the benchmark of our commitment to quality performance and client service. A quality audit will help protect the assets and the financial integrity of the employee benefit plan and ensure that the necessary funds will be available to pay retirement benefits to plan participants.
Our professionals receive extensive, comprehensive training to stay current on the constantly changing laws and regulations that affect employee benefit plans. We attend annual conferences presented by the DOL, IRS and the AICPA. We are able to identify plan compliance issues and recommend procedures to avoid plan operational errors. Additionally, we can assist ERISA council with correcting for plan defects.
We have experience in auditing all types of defined contribution, defined benefit, and health and welfare plans.
Our audit expertise includes:
401(k) Plans
4003(b) Plans
Employee Stock Ownership Plans (ESOP)
Profit Sharing Plans
Defined Benefit Plans
Plans with SEC Form 11K Filings
VEBAs
Ready to Experience the FHH Difference?
Connect with us for expert audit services. We ensure financial precision and compliance for businesses, executives, and professionals alike, guiding you confidently through your financial journey.
Consulting Engagements
At times you may need a trained outside professional to evaluate your plan’s policies and procedures to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.
We assess your internal control systems to determine the efficiency and effectiveness of your plan administrative procedures. Then we make recommendations that help plan management’s internal controls become stronger by correcting any inefficient or ineffective administrative procedures we find.
WHAT WE DO FOR YOU
- Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
- Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
- Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
- Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
- Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
- Review plan procedures to ascertain whether results are consistent with established objectives and goals and whether the plan procedures are being carried out.
Ready to Experience the FHH Difference?
Connect with us and let’s embark on your financial journey together. Whether you’re a business owner, an executive, or an independent professional, we’ve got the expertise and the heart to guide you.