Employee Benefit Plan Audits (As required by ERISA)
The never-ending changes in federal regulations governing
retirement plan compliance continue to become more
complex. As you consider your options for a plan auditor,
consider Clayton & McKervey.
Does your plan meet the requirements for needing an audit?
Generally, federal law requires employee benefit plans with 100 or more participants to have an audit as part of their obligation to file an annual return/report (Form 5500 Series). If your plan has filed as a small plan in the past, that threshold increases to 120 eligible participants.
What We Provide
Clayton & McKervey has dedicated an area of our practice to providing audit and consulting services. The team receives extensive, ongoing compliance training, keeping them ahead of the curve on new developments and strategies. This provides peace of mind to clients, while improving audit efficiency.
In addition to auditing our clients' retirement plans, we also work with clients who use other CPAs for their business accounting needs without disrupting their relationship.
Count on us to provide audits, which meet the requirements of the Employee Retirement Income Security Act (ERISA), the Department of Labor (DOL), and the Internal Revenue Service (IRS). Additionally, we are one of about 100 members of the Audit Quality Center of the American Institute of Certified Public Accountants (AICPA).
How You Benefit
- Timely delivery of a high quality audit at competitive prices
- Practical recommendations that, in turn, have helped clients refine internal procedures, saving time and money for their organization
- Assistance in developing strategies to maximize contributions, as well as positioning your plan as an employee recruiting and retention tool
Pricing
Our competitive fees for a limited scope audit, the most common type of retirement plan audit, usually range from $7,500 to $11,500, whether your plan has 100 or 1,000 eligible participants.
Our most competitive pricing is provided when the audit can be scheduled during May, June, July, or August.
248.208.8860 | 2000 Town Center, Suite 1800 | Southfield, MI 48075
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