Services

Employee Stock Ownership Plan (ESOP Audits)

When it comes to your ESOP audits, experience matters. Our team is ready to put their expertise to work to deliver accurate results every time.

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Your ESOP Audit, Our Experts

Your employee stock ownership plan deserves an auditor who understands its complexities. Our team has the expertise to provide efficient, thorough audits that put your plan’s needs first and ensure compliance, bringing the following to each engagement:

In-depth review of company stock valuations
Testing of participant allocations and distributions
Extensive knowledge of ERISA, DOL and IRC regulations
Clear communication throughout the audit process

Audits You Can Count on

Thousands of completed audits. Zero surprises.

Just accurate, on-time results you can trust.

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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

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.

Step 4

Wrap-up Call

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.

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

Does my employee stock ownership plan need an audit?

Whether your ESOP needs an audit primarily depends on the number of eligible participants it has. In general, if your ESOP has 100 or more eligible participants at the beginning of the plan year, an annual audit is required under ERISA. However, certain exceptions may apply depending on the plan’s age, size and structure.

Why do you need a copy of our valuation report?

It’s essential that we see the valuation report because it supports the value of your plan’s main asset — company stock. As auditors, we are required to verify that the plan’s financial reporting is materially accurate, and reviewing the valuation is a key part of that process.

When can you start my ESOP audit?

ESOP audits typically begin later in the year because they depend on the release of the company’s stock valuation. We will discuss the timing of the audit during planning and determine a timeline based on availability of key requests.

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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