TITLE

Auditing the auditors: DOL requests more information from retirement plan auditors

AUTHOR(S)
PALMIERI, FRANK
PUB. DATE
April 2010
SOURCE
Employee Benefit News;Apr2010, Vol. 24 Issue 4, p43
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article explains the auditing the auditors initiative for retirement plans introduced by the U.S. Department of Labor (DOL). Under the scheme, the opinion of an accountant should be attached to the annual Form 5500 filing by employers who maintain qualified plans with over 100 participants as of the beginning of any plan year. The audited financial statements, accountant's opinion and footnotes are the primary products from a plan audit. It suggests the DOL-sponsored voluntary fiduciary program for fiduciary breaches.
ACCESSION #
49676631

 

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