Overview of Employee Benefit Plan Audits

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An overview of EBP Audits. For companies with more than 100 participants in an employee benefit plan, having an EBP audit performed can be mandatory. But not just any Certified Public Accountant (CPA) can perform a quality EBP audit.

Many simply provide it as an ancillary service, particularly as a courtesy to their corporate clients. It takes focus, dedication and experience to do the job right...and that’s exactly the way we do business at Mayer Hoffman McCann P.C. (MHM).

For more information, visit http://www.mhm-pc.com

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Overview of Employee Benefit Plan Audits

  1. 1. our roots run deep EMPLOYEE BENEFIT PLAN AUDITS
  2. 2. EMPLOYEE BENEFIT PLAN AUDITS Fairly valued plan assets. Timely plan contributions. Properly stated plan obligations. Accurate benefit payments. These are all things that the Department of Labor (DOL) is evaluating as they continue to regulate and monitor employee benefit plans. After decades of regulation, the DOL continues to find that there are a significant number of Employee Benefit Plan (EBP) audits that do not meet DOL requirements. Will yours withstand the scrutiny? For companies with more than 100 participants in an employee benefit plan, having an EBP audit performed can be mandatory. But not just any Certified Public Accountant (CPA) can perform a quality EBP audit. Many simply provide it as an ancillary service, particularly as a courtesy to their corporate clients. It takes focus, dedication and experience to do the job right...and that’s exactly the way we do business at Mayer Hoffman McCann P.C. (MHM). Over the past 20 years, MHM has developed a top-notch EBP audit practice with dedicated leadership, training and methodology. We are committed to providing our clients with a reliable, timely, high-quality audit. It’s the only way we do things.
  3. 3. Plan Types Professional Involvement Why Choose MHM?While each plan type does have its MHM was one of the first firms to join With the constant change in the rulesown unique nuances, our depth and the AICPA’s Employee Benefit Plan and filing requirements, it is imperativebreadth of expertise when it comes to Audit Quality Center, which now has companies choose an auditor whoan EBP audit is unmatched by most over 2,200 members. We also have specializes in employee benefit plans.other firms. Whether a company has professionals who are active members Otherwise it could be troublesome,one or multiple EBPs, we work on of both the Employee Benefit Plan or in the worst cases, costly. MHM ismany different EBP types including: Audit Quality Center and the Employee one of the nation’s Top Ten accounting Benefits Technical Resource Panel. firms and has access to vastn Defined Benefit MHM’s commitment to quality EBP resources and expertise throughoutn Defined Contribution audits goes even further with our the country. Our EBP audit practicen Profit Sharing continued investment in firm-wide is one of our leading industry/nichen ESOPs technical training and annual internal practice areas, not just an ancillaryn 11-k inspections. We ensure our profession- service like many other firms provide.n 401(k) als receive specialized training and are Since it is a dedicated practice forn 403(b) kept up to date on the latest changes us, your company can benefit fromn Multiple employer welfare impacting EBP audits and all related the efficiencies we’ve created, which arrangements topics such as updates on the Form translate to timely completion of 5500, independence matters, disclo- work and potential cost savings.Our Experience sures and fiduciary responsibility. Furthermore, our involvement in the profession and depth of expertiseWith a dedicated team of EBP auditors allow us to provide added value to ourand as one of the nation’s leading EBP clients by assisting them in developingaudit providers, MHM is committed to a better understanding of their EBPsproviding quality, thoroughness and and the related filing and complianceprecision at an affordable price. Our requirements.national EBP audit practice has grownto over 1,200 plan audits annuallyfor a wide-spectrum of companies.We work with both public and privatecompanies and companies rangingfrom small-medium sized to Fortune500 companies.
  4. 4. A B O U T M AY E R H O F F M A N M c C A N N P. C . Mayer Hoffman McCann P.C. is a national, independent CPA firm that has grown and flourished to become a national alternative to the Big Four. While we have resources across the country in more than 35 offices, we maintain that our clients deserve personalized, premier caliber service. Guided by our core values of competence, integrity, respect and value, our professionals and our firm, operate as your trusted advisor. At MHM we are steadfast in our commitment to you and the public to deliver sound financial reporting and reliable assurance services. You have our commitment to responsive service and compliance with the profession’s highest technical and ethical standards. Mayer Hoffman McCann P.C. provides a comprehensive range of audit and attest services including: n financial statement audits of public and private companies and nonprofit organizations n yellow book audits n SOC Reports of service organizations n employee benefit plan audits n SEC advisory services n litigation support n reviews n compilations n other attest services© Copyright 2012. Mayer Hoffman McCann P.C. All rights reserved. www.mhm-pc.com our roots run deep ™

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