Understanding the basics of an ERISA audit and its advantages can help a company mitigate the risk of costly penalties from the DOL. LONG BEACH, CA, UNITED STATES ...

The Frances Perkins Building of the U.S. Department of Labor headquarters in Washington, D.C. The Department of Labor (DOL) has updated their guidelines about what constitutes an independent ...

Understanding when and what type of a 401(k) audit is needed — and what that audit will entail — can help keep a company’s plan in compliance with IRS and Department of Labor requirements. Start by ...

In 2015, the Department of Labor published a study that found 39% of employee benefit plan audits had one or more major deficiencies. Because of these results, the Department of Labor asked the ...

The Form 5500 is the information return that must be filed by most employee benefit plans subject to ERISA (unless an exception applies), and failure to file this annual return for a plan can result ...

In July 2019, the Auditing Standards Board issued its Statement on Auditing Standards 136, “Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA.” SAS ...

Employee benefit plan (EBP) audits and reporting will be quite different in the near future as changes in generally accepted auditing standards take effect. Communications with management and those ...

Hospital executives, contracting personnel and revenue cycle teams may have heard about The Employee Retirement Income Security Act of 1974 — better known as ERISA — but few clearly understand how ...

The American Institute of CPAs has released a set of questions and answers to help auditors of benefit plan financial statements deal with this complex field and a revised auditing standard. The AICPA ...

In July 2019, the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) issued a revised Statement on Auditing Standards No. 136 entitled, “Forming an Opinion and ...

Fortune 500 cases show that benefits fiduciaries face unprecedented legal exposure, from AI claims denials to hidden PBM fees ...

The hurried changes made to employee benefit plans as a result of the coronavirus pandemic make thorough documentation an important tool for EBP auditors in the current environment. Penalty-free ...