Employee Benefit Plans
Our Firm performs ERISA audits for the following types of employee pension and benefit plans:
- Defined Contribution Plans — Full & Limited Scope (Including 403(b) plans)
- Defined Benefit Plans — Full & Limited Scope
- Health and Welfare Plans
These types of audits are highly specialized and closely scrutinized by the Department of Labor (DOL) and the American Institute of Certified Public Accountants (AICPA) due to the high percentage of substandard work performed by CPA firms. Plan sponsors have a fiduciary responsibility for protecting the assets of the Plan and maintaining the integrity of participant records and will be held liable for mismanagement, including not selecting a qualified CPA firm to perform the annual audit should an irregularity or fraud occur.
GYL has a specialty niche in performing ERISA audits for employee benefit plans. We have a team that has extensive experience and are well-trained in performing these types of audits. Our Firm has undergone and passed scrutiny with the DOL and AICPA peer review. Furthermore, we can assist Plan sponsors with beefing up their internal control over Plan assets to minimize the potential for irregularity and fraud.
Contact us today, and a GYL Partner will be glad to schedule a free consultation with you.