Employee Benefit Plans

Employee benefit plans with 100 or more eligible participants are required by the Department of Labor (DOL) to have an audit done annually.  This includes 401(k), 403(b), pension, ESOPs and other plans.  Our experienced team is committed to providing the highest quality standards in performing employee benefit plan audits. KN+S professionals are trained in every aspect of employee benefit plan audits, and have many years of experience in financial reporting, compliance, and fiduciary responsibilities.

The Employee Retirement Income Securities Act (ERISA) holds plan administrators responsible for ensuring that plan financial statements are properly audited in accordance with generally accepted auditing standards (GAAS).  The DOL has dramatically increased and revised its enforcement strategies with respect to audit deficiencies.  As members of the American Institute of CPAs (AICPA) Employee Benefit Plan Audit Quality Center, we adhere to strict membership requirements and are committed to ensuring compliance with the rules and regulations affecting your plan.

Our team can help you with:

• Audits of plan financial statements and schedules as required by the DOL
• Preparation of required IRS and DOL filings
• Assistance with IRS and DOL matters
• Review and Preparation of Form 5500
• Internal controls testing
• 403(b) audits for non-profit organizations