Buyer beware: When selecting a benefit plan auditor, employers must remember not all CPAs are created equal

July 2010
Employee Benefit News;Jul2010, Vol. 24 Issue 9, p11
The article points out that companies need to ensure that all of their auditors tasked to check on employee benefit plans should be properly trained to comprehend the unique aspects of such type of audits or companies could suffer grave consequences. It states that an incomplete Form 5500 filing because of a substandard audit can result in the company being penalized hundreds of thousands of U.S. dollars. Questions that one should ask to find a qualified employee benefit plan auditor are listed.


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