What Is That Auditor Thinking?

Helping the Third-Party Administrators Understand a Plan’s Auditor

Article by Amanda Rae Iverson, COO of Pinnacle Plan Design, LLC

Let’s Set the Stage

Your client has had a plan for many years. This year, they have hit the number of participants so that the law requires that the plan be audited by an independent public accountant. (Generally, federal law requires employee benefit plans with 100 or more participants to have a retirement plan audit as part of their obligation to file an annual return. [ERISA § 103(a)(3)])

Your first thought (and likely your client’s first thought) may be, “Ugh.” However, I advise clients: If your plan requires an audit, do not panic! Being prepared and knowledgeable will help your client throughout the audit process.

Continue reading this article: What is That Auditor Thinking?


This article was first published by Wolters Kluwer in the Journal of Pension Benefits, Winter 2018, Vol. 25, No. 2

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