More Than Just An Audit
Ensuring your employee benefits plan is in compliance with Department of Labor standards is no small task. To meet the stringent requirements that are unique to these plans, you need a specially trained eye to review and assist you in becoming and remaining compliant.
At Bauman Associates, our goal is to go above and beyond expectations with a team that is dedicated to employee benefit plans. Unlike other firms that manage employee benefit plan audits with any available staff from their audit team, our group is trained specifically on handling these specialized engagements. We are members of the AICPA’s Employee Benefit Plans Audit Quality Center (EBPAQC), which requires all engagement personnel to annually attain a high level of training in the latest ERISA rules and regulations.
Along with the intensive education requirements for individuals, the firm must also adhere to a set of minimum standards that include having an ERISA dedicated partner, established policies and procedures that comply with professional standards, annual internal inspections and publication of peer review reports.
Because of our focused training and knowledge, our employee benefit plan audit process is conducted with an emphasis on efficiency. Unless requested by a client, we never recommend extensions. We focus on a timely turnaround that produces as few interruptions as possible and results in engagements that often run shorter than industry averages. We work with a variety of plan types including 401(k), 403(b), health and welfare, defined contributions and defined benefit plans. Furthermore, we focus even more specifically on Taft-Hartley (multi-employer) plans, allowing us to quickly identify and respond to targeted issues related to these plans, including:
- Collective bargaining agreements
- Training/apprentice programs
- Portability of benefits and reciprocal agreements
- Dollar/hour banks
- Payroll audits
- Expense allocations
With the Department of Labor conducting more audits than ever before, it’s vital to work with a firm with the proven experience and knowledge needed to help you stay in compliance. Contact us today to learn how we can assist you.