Employee Benefit Plan Audits

When it comes to employee benefit plan audits, The Bonadio Group’s (Bonadio) experience and expertise across New York State and nationally is unparalleled.  In addition to being one of the largest independent CPA firms in New York State, we maintain one of the largest benefit plan audit practices in the United States. Bonadio is a Top 50 firm for performing benefit plan audits according to the Department of Labor (DOL) as well as a Top 20 auditor of TIAA-CREF sponsored plans in the U.S.

Many CPA firms audit employee benefit plans, but few truly specialize in this complex and highly regulated area.  Our current practice consists of well over 200 plan audits, ranging in size up to 26,000 employees and $2 billion in assets, so our clients benefit by having a team of dedicated and experienced professionals who specialize in this highly regulated industry –  individuals that not only know how to audit employee benefit plans, but who stay abreast of changes in the employee benefit plan arena, including DOL and ERISA requirements.

Bonadio has an established program which ensures that all engagement personnel possess current knowledge, appropriate to their level of involvement in the engagement, of applicable professional standards, rules, and regulations for ERISA employee benefit plan audits. On top of the day to day expertise available at Bonadio, one of our Employee Benefit Partners also is an active member of the AICPA Employee Benefit Conference planning committee and has been a primary contributor on the “Ask the Experts” conference panel.

We are also members of the AICPA Center for Public Company Audit Firms and the AICPA Employee Benefit Plan Audit Quality Center.  We attend the AICPA Employee Benefit Plan Conference on an annual basis, and all managers, seniors, and staff are required to attend annual in-house training on audits of employee benefit plans.

Employers know that sponsoring a benefit plan requires up to the minute knowledge of complex rules, and that ERISA attorneys expect participant litigation to skyrocket over the coming years. Make sure you've got the right team to help keep the plan in compliance and minimize fiduciary liability.