Employee Benefit Plan Audits

Plans and plan sponsors are facing new challenges, greater responsibility and increased scrutiny from participants and regulators.

If your employee benefit plan is required to have an audit, one of the most important duties of the plan administrator is to hire an independent auditor for the plan. A quality audit will help protect the assets and the financial integrity of your employee benefit plan and ensure that the necessary funds will be available to pay retirement, health, and other promised benefits to your employees.

Our goal is to perform a quality audit as well as to assist our clients to develop and maintain quality plans for themselves and their employees. We believe it is important their responsibilities and the compliance requirements.

Our approach to auditing is to work with the client’s personnel, plan administrator and service providers in a cost-effective and non–intrusive manner. We plan and schedule the audit with the convenience of our client in mind. We are heavily staffed at the management level to assure quality service to our clients. We have experience in auditing a diverse collection of plan types including both full and limited scope audits. Our experience, qualifications and service approach enable us to deliver the highest quality service on a timely basis with a reasonable fee structure.

We are members of the AICPA Employee Benefit Plan Audit Quality Center and as members have committed to maintaining a quality audit practice, including adhering to certain requirements for training/education, performing internal inspections and including a selection of employee benefit plan audits in our peer review process. Our personnel devoted to serving employee benefit plans receive CPE specifically related to employee benefit plans including attending the AICPA National Conference annually. Significant dollars are spent each year to maintain and expand our in-house library. Our hiring standards focus heavily on professional background and experience. You will be impressed by the caliber of the professionals at Shannon & Associates, LLP

Services We Provide:

Audits of single and multi-employer plans including but not limited to:

  • Defined contribution plans – 401(k) and 403(b)
  • Defined benefit plans
  • Health and welfare plans

Consulting and other services:

  • Preparation of Form 5500 and ERISA reporting requirements
  • Preparation of Form 5500 and ERISA reporting requirements
  • Plan design and implementation
  • Operational plan compliance review
  • Fiduciary review and compliance
  • Mergers and acquisitions due diligence
  • Plan terminations
  • Plan internal control analysis and implementation
  • GAAP consulting for all types of employee benefit plans

What Sets Us Apart:

  • A commitment to longevity and personalized service:
    We focus on a one-to-one approach, meeting our clients’ needs with custom strategies tailored for long-term success.
  • Security and efficiency, with leading-edge technology:
    We invest in our clients’ success with the latest strategies, designed to automate processes, improve reporting and prevent fraud.
  • Large-scale resources in a responsive, locally owned firm:
    Our big-picture capabilities mean comprehensive planning with the ability to take a highly customized approach.

CPAs and management consultants focused on helping you grow your business.