Employee benefit plan audits are complex, especially under ERISA Section 103(a)(3)(C) requirements. For plans with 100 or more eligible participants, a well-prepared audit can mean the difference between on-time filings and costly delays. Duffy Kruspodin’s checklist breaks down each audit phase with clear documentation goals to help HR, payroll, and finance leaders stay ahead of […]
Employee benefit plan audits are complex, especially under ERISA Section 103(a)(3)(C) requirements. For plans with 100 or more eligible participants, a well-prepared audit can mean the difference between on-time filings and costly delays. Duffy Kruspodin’s checklist breaks down each audit phase with clear documentation goals to help HR, payroll, and finance leaders stay ahead of the process.
From pre-audit planning to year-end reporting, this checklist helps you gather the right documents, reduce follow-up requests, and improve communication with your auditors. With guidance across internal controls, transactional testing, and compliance confirmations, plan sponsors can move through audits with less disruption and more confidence. Start preparing early and work with a team that knows what regulators expect.
Are you a business owner or financial professional seeking to master the intricacies of financial audits? Do you want to ensure your company’s financial health, drive growth, and maintain compliance? Look no further! This comprehensive guide will walk you through everything you need to know about financial audits, from their purpose and benefits to preparation […]
How Clear Roles Support a Smoother EBP Audit Why Coordination Matters Employee benefit plan audits often involve multiple service providers. Third-party administrators (TPAs), recordkeepers, payroll providers, and custodians may all supply information used during audit testing. When roles and responsibilities are not clearly aligned, audit requests can overlap, stall, or require additional follow-up. Clarifying responsibilities […]
Introduction Many plan sponsors don’t realize when they’re subject to an ERISA audit — until the filing deadline is looming. Retirement plans with 100 or more eligible participants accounts at the beginning of the plan year are often required to file audited financial statements with their Form 5500. But the audit requirement isn’t always as […]
About Our Expertise and Duffy Kruspodin’s Credentials Our team consists of seasoned professionals with over 20 years of experience in audit and financial statement compliance services. Our team consists of licensed CPAs with extensive experience navigating our clients through GAAP and other various accounting standard requirements. We have engaged in numerous industry events and maintain […]
In today’s environment, audits are expected to do more than confirm compliance. Boards, investors, and other stakeholders now look to the audit process for insight, transparency, and assurance that risks are being managed effectively — not simply verified. When an audit remains purely transactional, organizations lose an opportunity to strengthen governance, improve oversight, and support […]
Employee benefit plans are a valuable tool for attracting and retaining talent. But managing the associated paperwork can be a headache, especially when it comes to Form 5500. What is Form 5500? Form 5500 is an annual report required by the Internal Revenue Service (IRS) for most employee benefit plans in the United States. It […]
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