401(k) Plan and ESOP Audits

Even though all qualified plans must meet certain guidelines to be approved by the Internal Revenue Service, there are so many different options within each plan that any two plans are rarely alike. Thus, it’s of utmost importance for an auditor to understand each individual plan and tailor the audit to fit the plan.

We know from experience that good audit planning results in smoother, efficient and timely audits. Our strengths in handling employee benefit plan audits include:

• Years of audit experience involving defined benefit retirement plans and defined contribution plans, such as 401(k), profit sharing, and ESOP plans.

• Extensive experience working with many different Third Party Plan Administrators.

• A staff that takes pride in keeping up to date on the latest rules and regulations regarding qualified plans.

• An excellent understanding of the importance of deadlines!

Our goal with each audit is to make sure your employee benefit plan’s financial statements comply with the applicable accounting principles and disclosure requirements, and to do it in the most efficient manner possible.

At Carolyn A. Mayes, CPA we not only keep up to date on generally accepted accounting principles, but we are also familiar with the latest tax laws, ERISA rules and the Department of Labor’s laws and regulations regarding employee benefit plans.

As a result, we not only provide excellent auditing services, we can also help you prevent costly mistakes.