austin3515

In the auditors defense, I'm sure he/she picked that up due to the fact that we are told all the time (as auditors) that if a Plan is self trusteed they (the custodian) cannot provide a certification. As the previous respondent indicated that is categorically untrue. I'm not certain why the auditor cares either, if they do in fact have a certified statement from a custodian... If your in the New Engalnd area, respond - I'd be happy to have my firm do the limited scope audit...

I swear I heard a very high authority at the DOL say that a "duly authorized agent" of a bank, trust or insurance company could issue a certification that could be relied upon for the audit. I have recently obtained such a certification from a pretty major investment firm, where the investment company certfied as "agent for the trust company." From reviewing the regs, I cannot find any mention of a duly authorized agent. Anyone dealt with this before?