If your company's employee benefits plan has over 100 eligible participants, you are required by Federal law to have an audit as part of your obligation to file a Form 5500 annual report. A plan administrator has the important responsiblity of hiring an independent auditor with the expertise needed to perform a quality audit. Sheldon Reder CPAs' team is focused on delivering quality audits that will help to ensure the financial integrity of your plan, protect plan assets, and keep your plan in compliance with the latest requirements.
The Department of Labor has significantly increased its enforcement of audit requirements, with large penalties for deficient filings. Your selection of an experienced audit team is crucial to ensuring your reports meet their standards. The following link provides guidance from the Department of Labor on what to consider when selecting an auditor for your employee benfits plan.
Sheldon Reder CPAs is a member of the American Institute of Certified Public Accountants Employee Benefit Plan Audit Quality Center. The Centers member firms demonstrate a commitment to quality and have access to best practices, training, and tools that support us in providing you with the highest level of service. We plan and execute our audits in a way that maximizes audit efficiency and quality, and we offer your plan administrator and human resources personnel confidence in meeting their plan reporting and management responsibilities.
Whether this is your first year with an audit requirement or you are looking for a new auditor or a competitive quote, our team is here to assist you with your employee benefits plan needs.