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Employee Benefit Plan Audit Services

Employee Benefit Plan Audit Services

Employee benefit plans are a key component of your organization’s overall compensation strategy and an important responsibility for plan sponsors. With that responsibility comes a complex set of regulatory and fiduciary obligations that require careful attention, technical expertise, and a disciplined approach to compliance.

The Employee Retirement Income Security Act of 1974 (ERISA) requires certain employee benefit plans to undergo an annual independent audit. In general, plans with 100 or more participants at the beginning of the plan year must include audited financial statements with their Form 5500 filing to the U.S. Department of Labor (DOL). These requirements are designed to promote transparency, protect plan participants, and ensure that plan assets are properly managed and reported. It also reinforces confidence among plan participants, regulators, and other stakeholders. The diagram below may assist you in determining whether an audit is required:

Does Your Plan Require an Audit - Table

Plan sponsors are fiduciaries under ERISA and are required to act in the best interests of plan participants and beneficiaries. An independent audit supports this fiduciary duty by helping confirm that the plan is being operated correctly and in compliance with regulatory expectations.

At Brontide, we maintain a proven track record by successfully guiding organizations through audits with precision. Our CPAs bring extensive experience auditing a wide range of employee benefit plans which include 401(k) plans, profit-sharing plans, 403(b) plans, employee stock ownership plans (ESOPs), defined benefit pension plans, and health and welfare plans. All audit work is performed in the United States of America. We do not outsource audit procedures overseas which ensures accountability, continuity, and direct access to the professionals responsible for your engagement.

In addition, Brontide is a member of the AICPA’s Employee Benefit Plan Audit Quality Center, reflecting our commitment to the highest standards of audit quality, ongoing professional education, and adherence to best practices specific to employee benefit plan audits.

If your plan requires an audit or if you have any questions, we invite you to contact us to learn how our employee benefit plan audit services can support your fiduciary responsibilities with confidence.

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6701 Democracy Blvd, Suite 300
Bethesda, Maryland 20817

Maryland License Number: 41307