Get the free Employee Benefit Plan Audit Practice Newsletter - Winter 2014

WINTER 2014 www.bdo.com GET TO KNOW BDO EXECUTIVE AND HR SERVICES CONTACT: BOB LAVENDER Assurance Partner National Partner In Charge of Employee Benefit Plan Audit Quality 215-636-5576 Rosenberg bdo.com

How to fill out employee benefit plan audit

How to fill out employee benefit plan audit:

1. Obtain all necessary documentation including the plan documents, financial statements, and contribution records.
2. Review the plan documents to understand the plan provisions and eligibility requirements.
3. Conduct a thorough examination of the financial statements to ensure accuracy and compliance with accounting standards.
4. Analyze the contribution records to verify that employee and employer contributions match and are properly allocated.
5. Evaluate the plan's compliance with relevant laws and regulations, such as ERISA and the Internal Revenue Code.
6. Assess the plan's administrative procedures and controls to determine if they are effective and efficient.
7. Prepare an audit report summarizing the findings and recommendations for any necessary remedial actions.

Who needs employee benefit plan audit:

1. Employers who offer employee benefit plans, such as retirement or health benefit plans, may need to undergo an audit to ensure compliance with applicable laws and regulations.
2. Companies with a certain number of plan participants, typically 100 or more, may be required by law to have an annual audit of their employee benefit plans.
3. Plan sponsors and fiduciaries, including business owners, HR departments, and plan administrators, are responsible for ensuring the accuracy and compliance of the employee benefit plans, making an audit necessary.

For pdfFiller’s FAQs

What is employee benefit plan audit?

Employee benefit plan audit is a review of the financial statements and operations of a company's employee benefit plans to ensure compliance with regulations and accuracy of reporting.

Who is required to file employee benefit plan audit?

Companies with employee benefit plans that meet certain criteria, such as number of participants and total assets, are required to file an employee benefit plan audit.

How to fill out employee benefit plan audit?

To fill out an employee benefit plan audit, companies must provide detailed financial information, including participant data, contributions, investments, and expenses.

What is the purpose of employee benefit plan audit?

The purpose of an employee benefit plan audit is to provide assurance to stakeholders that the plan's financial statements are accurate and comply with regulations.

What information must be reported on employee benefit plan audit?

Information reported on an employee benefit plan audit includes financial statements, investments, contributions, distributions, and compliance with regulations.

How can I edit employee benefit plan audit from Google Drive?

By combining pdfFiller with Google Docs, you can generate fillable forms directly in Google Drive. No need to leave Google Drive to make edits or sign documents, including employee benefit plan audit. Use pdfFiller's features in Google Drive to handle documents on any internet-connected device.

How do I complete employee benefit plan audit online?

pdfFiller has made it easy to fill out and sign employee benefit plan audit. You can use the solution to change and move PDF content, add fields that can be filled in, and sign the document electronically. Start a free trial of pdfFiller, the best tool for editing and filling in documents.

How do I complete employee benefit plan audit on an Android device?

Complete your employee benefit plan audit and other papers on your Android device by using the pdfFiller mobile app. The program includes all of the necessary document management tools, such as editing content, eSigning, annotating, sharing files, and so on. You will be able to view your papers at any time as long as you have an internet connection.