Employee benefit plans are a complex area that require intimate knowledge of plan design as well as performance.
When considering an auditor for your plan, be sure to ask the following questions:
- Is your auditor looking at your plan’s operations, documents, and amendments?
- Does your auditor understand the difference between the requirements for the financial statements and your Form 5500?
- Does your auditor invest in training to keep up-to-date on the latest issues?
- Is your auditor a member of the AICPA Employee Benefit Plan Audit Quality Center?
- Does your auditor assign an experienced benefit plan auditor to service your account?
- Do you understand that the plan fiduciary is responsible for the work performed by auditors
At Fenner, Melstrom & Dooling, PLC, we realize that one of the most important factors in choosing an auditor is feeling comfortable with the people you will be working with. Our ongoing commitment to provide financial and business wisdom, means we are continuously broadening our knowledge, honing our skills, and sharing valuable insights with our clients.
FMD can help with your employee benefit plan audit.