Make sure your plan is getting a high-quality audit.The DOL is making them a priority.
Understanding that the process of auditing an employee benefit plan has many unique aspects that differentiate it from a financial-statement audit, AGH has developed and trained a specialized team that focuses on these types of audits.
Organizations whose retirement plan has 100 or more eligible participants
Meet Department of Labor (DOL) and Internal Revenue Service regulatory requirements under ERISA
Provide assurance that the retirement plan is handling employee contributions, enrollments, distributions and loans in compliance with plan guidelines and employees' instructions
The DOL has made high-quality plan audits a priority and has issued guidance as to what qualifications a CPA firm should have to audit retirement plans. Additionally, the DOL has staffed up and increased its emphasis on enforcement and conducting its own audits.
Rather than treat plan audits as fill-in work for audit staff between other jobs, AGH has designated an employee benefit plan audit team leader, manager and selected audit staff for additional professional education related to ERISA and DOL requirements.
A recent study of CPA firm audits of employee benefit plans linked higher audit quality to these specific characteristics of an auditing firm. Here is how AGH stacks up against the DOL criteria:
Senior Vice President,
Aron Dunn leads AGH’s employee benefit plan and agribusiness teams. He also has exeperience in employee benefit plan audits, mergers and acquisitions and refinancing.
Aron is a certified public accountant and a member of both the American Institute of Certified Public Accountants (AICPA) and the Kansas Society of Certified Public Accountants (KSCPA). He previously served as one of the youngest-ever KSCPA chairs and now leads KSCPA’s Auditing and Accounting task force and the Peer Review Process Improvement Task Force. He is also a past president of the Wichita Chapter of the KSCPA and a member of AICPA's Accounting & Review Services Committee, among other AICPA committees and task forces.