Employee Benefit Plan Audits

In the highly regulated environment of employee benefits, you, as a plan sponsor, must have confidence in your employee benefit plan audit—and auditors. Incomplete or inaccurate audit reports of financial condition or operations can result in plan disqualification or significant penalties for the plan sponsors and plan fiduciaries.

Sikich devotes substantial resources to its employee benefits practice, which offers clear advantages to plan sponsors: assurance of quality, efficient audit process, potential fee savings, and a detailed, constructive management letter. Our professionals are credentialed, highly trained and experienced in employee benefit plan audits, administration and consulting services—working with more than 250 plans. Our EB practice and professionals must abide by specific internal quality control standards and policies relative to independence, personnel assignments, professional development and education, and client acceptance.

Our expertise in EB audits results in an efficient audit approach that reduces the time we need from your personnel—allowing them more time for their regular duties. And, our approach allows us to charge lower audit fees than many of the larger national firms.

As part of the audit, we provide you a management letter that identifies opportunities to correct potential problems before they could lead to penalties or plan disqualification. We also look for planning opportunities to help your company achieve its goals for the plan. And, we include a section on current trends in the employee benefits area to keep you informed of the benefits other companies offer, which can help you achieve and maintain competitive advantage.

Plan sponsors can rely on the employee benefit plan practice of Sikich to provide them accurate, complete, timely, professional, and cost-effective services that will meet their specific objectives, now and in the future.