Services

401(k) Plan Audits

When it comes to 401(k) plans, we’ve seen — and audited — it all.

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Delivering Comprehensive Audits for 401(k) Plans

Our team is equipped to perform thorough audits for all types and sizes of 401(k) plans. We ensure peace of mind for plan sponsors like you through:

In-depth knowledge of each 401(k) plan’s unique requirements
A thorough understanding of ERISA, IRS, DOL and SEC regulations as they pertain to 401(k) plan audits
Our customized approach — tailoring your audit to meet your 401(k) plan’s unique needs
Efficiency and early testing made possible by direct access to payroll provider and recordkeeper data

Audits You Can Count on

Thousands of completed audits. Zero surprises.

Just accurate, on-time results you can trust.

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Services

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401(k) Plan Audits

We audit 401(k) plans of all sizes — from hundreds to thousands of participants — ensuring compliance with IRS, DOL and ERISA requirements as they pertain to employee benefit plans.

403(b) Plan Audits

For non-profits, our 403(b) audits ensure accurate asset reporting and regulatory compliance, safeguarding your plan’s integrity.

11-K Audits

Registered with the PCAOB to perform 11-K audits, we deliver expert services to companies offering publicly traded stock as part of their benefit plans.

401(a) Plan Audits

Our 401(a) audits focus on verifying employer-only contributions, ensuring that they’re properly allocated and that the plan complies with all regulatory standards.

HOW IT WORKS

With a process refined over multiple decades and thousands of employee benefit plan audits, we know how to keep things running smoothly.

Here’s what you can expect during each step of your audit.

Step 1

Planning Call

Before getting started, we’ll schedule time to talk about your plan. If you’re a new client, we’ll dive deep into the details. If you’ve partnered with us before, there’s no need to start from scratch — we focus our time on what’s changed since we last connected.

Step 2

We Get to Work

Once we have the information we need, we get started on your audit — keeping you updated through Atlas, our centralized, practice management collaborative application. With Atlas, you can securely share documentation and files with our team, communicate with us throughout your audit and track its progress 24/7.

Step 3

Wrap Up

Finally, we’ll meet with you again to discuss the results of your audit and answer any questions you have, whether it’s a discussion with your team or a more formal presentation to a committee.

Step 4

Results

Once your audit is complete, we provide you with an audit report on the plan’s financial statements and a communications with governance letter, which goes over the results of the audit and details our findings. At the client’s request, we typically assist in drafting the financial statements and related footnotes as part of the audit process.

Working With Us

When you partner with us for your employee benefit plan audits, you can count on much more than our best-in-class audit services.

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Unmatched Expertise

Our exclusive focus on ERISA audits enables us to bring deep regulatory knowledge and years of specialized experience to your audit.

A Streamlined Audit Process

With our collaborative practice management application, all aspects of your audit — from communications to file sharing — are centralized for a faster, smoother, more organized experience.

Minimal Disruption to Your Team

Our streamlined audit process and ability to work directly with your service providers reduces the workload on your internal staff, so you can focus on what matters most — running your business.

National Recognition

As one of the largest employee benefit plan audit firms in the country, we’ve earned the trust of small businesses and Fortune 1000 companies alike.

FAQs

Do I need an audit for my 401(k) plan?

The requirement for an audit is triggered by the number of participants in the plan. Generally, plans with 100 or more participants require an audit. How participants are counted depends on the type of plan, and there are special rules for plans with between 80 and 120 participants. Please contact us with your plan specific questions.

What should we expect when transitioning our 401(k) plan audit to Caron Bletzer?

We understand that switching auditors can feel overwhelming, which is why we work hard to make the transition as smooth as possible. While the first-year audit may be slightly more involved, we will work with your team to minimize the lift. We’re often able to obtain records directly from your plan’s recordkeeper and, in some cases, your payroll provider, reducing the number of documents you need to supply. Our team is also experienced with a wide range of vendor systems, which helps streamline testing and keeps your audit efficient.

What is the difference between a 103(a)(3)(C) 401(k) plan audit and a non-103(a)(3)(C) 401(k) plan audit?

The main difference between a 103(a)(3)(C) audit and a non 103(a)(3)(C) audit is the scope of testing. A 103(a)(3)(C) audit is a limited-scope audit, where the auditor relies on the certification of a qualified institution for plan investments, meaning they do not test investment values and related income. A non 103(a)(3)(C) audit, on the other hand, requires the auditor to perform substantive testing of plan investments. At Caron Bletzer, most of our audits are 103(a)(3)(C) audits.

Ready for an Effective, Efficient Audit?

With thousands of employee benefit plan audits completed each year, our team understands the details that matter and has the experience to deliver audit results you can trust — on time and without surprises.

Get in touch with us today to begin the conversation.

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