See More: Audit and Assurance
Employee Benefit Plan Audits
While employee benefit plans can provide a sense of security for workers, administrators of such plans are often faced with an array of regulations and compliance concerns that require expert knowledge.
A high-quality audit conducted by an experienced financial professional is often the right way to ensure your plan is structured to avoid penalties or the attention of the IRS or the Department of Labor. Gelman, Rosenberg & Freedman understands the complexity of performing such audits and provides nonprofit organizations and businesses with the benefits of its specialized knowledge. Our professionals offer full- and limited-scale audits for a variety of plans including pension, health and welfare, 401(k), 401(a), and 403(b) plans.
Additionally, we consult with clients to help them navigate the complex issues regarding employee benefit plans and assist in the preparation of IRS Form 5500, the annual return/report of employee benefit plan and summary reports.
It takes a significant (and ongoing) investment of time for administrators to educate themselves on compliance issues related to the ever-changing rules that impact retirement and employee benefit plans. We help clients protect the financial integrity of their benefit plans to ensure that funds necessary to pay retirement, health and other promised benefits remain available in the long term.
Why Choose Gelman, Rosenberg & Freedman CPAs for Your ERISA Benefit Plan Audit
- We have a team of specialists who are experienced in ERISA benefit plan audits. We have performed hundreds of plan audits for various types of plans including 401(k), 403(b), profit sharing, ESOPs, health and welfare and pension plans.
- We provide extensive training to all of our auditors to ensure our team is armed with the technical skills and expertise to address matters unique to benefit plan engagements.
- Jackie Cardello, the partner who oversees the employee benefit plan audit practice, is actively engaged in every audit engagement.
- Our expert team conducts trainings, webinars and seminars to clients and non-clients pertaining to benefit plans and we keep our clients informed of regulatory issues and new laws and regulations.
- We have regular contact with the DOL and the AICPA so we are able to obtain immediate feedback on matters that require further research.
- We have relationships with ERISA attorneys, investment advisors, benefit plan consultants and plan administrators so, when the need arises, we are able to refer our clients to expert, reliable, resources that we have direct experience with.
- We work with a vast group of plan providers and have working relationships with many third party administrators and plan custodians/trustees which enables us to provide more efficient engagements.
- We have extensive expertise in the preparation of tax filings for all types of plans including those exempt from ERISA audit requirements.
- We have experience in assisting clients with plan corrective actions when matters arise regarding plan non-compliance.
We provide peace of mind by remaining current in our knowledge of this highly technical practice area through education and membership in the AICPA Employee Benefit Plan Audit Quality Center. which was established to promote quality employee benefit plan audits. Finally, we work with several plan administrators, attorneys and investment advisors who specialize in employee benefit plans to ensure you have the opportunity to benefit from a broad range of services.
Jerry Rosenberg and Judy Lasley helped us set up the right business structure and continue to get us through the maze of government contracting regulations we face everyday.
Shirley Wayne | Co-Owner
SW Associates, LLC