Sound advice, timely responses, and swift resolutions.
The rules governing benefit plan compliance have grown increasingly complex, putting your company at risk for costly audit mistakes. Our Employee Benefit Plan Audit team offers sound guidance, timely responses, and a deep understanding of the compliance and reporting requirements of the Employee Retirement Income Security Act (ERISA).
Choosing a qualified firm to perform your ERISA audit is imperative if you want to safeguard your plan’s assets. We are able to offer you the “best of both worlds” with our extensive in-house expertise and direct access to national technical resources when needed through our membership in the BDO Alliance USA.
Protecting Your Employee Benefit Plan
Stambaugh Ness Director Nikki Hoffman, CPA notes the Firm’s EBP Audit Team works hard to prepare for their audits, compiling information ahead of time, communicating often with clients while maintaining orderly processes and work-papers that can stand up to close scrutiny from the Department of Labor (DOL). Through the team’s detailed training and specific knowledge of possible penalties, Stambaugh Ness clients are protected from the consequences of non-compliance.
Find out more about our timely, effective, and efficient employee benefit plan audit services, download the digital brochure today!
Common ERISA Mistakes That Can Cost a Bundle
In light of the immense regulatory complexities impacting employee retirement benefit plans, it’s challenging for plan administrators to know if they are in compliance. The Department of Labor (DOL) enforces ERISA compliance through detailed and time-consuming audits and collects more than $1 billion in compliance penalties annually – many of which are preventable. Being fully prepared is key. Even small errors can cause significant and costly problems. In our article titled Common ERISA Mistakes That Can Cost a Bundle, Principal and ERISA Practice Director, Nikki Hoffman outlines some of the most common mistakes that make the most financial impact on businesses nationwide.