Thriving (Not Just Surviving) During a Plan Audit: Collaborating to Build Trust, Enhance Communication, and Save Time!

ASPPA [American Society of Pension Professionals & Actuaries]

Plan audits can often feel challenging, frustrating, or even intimidating for clients, while adding yet another task to your already full plate. The goal for this webinar is to foster collaboration and shared understanding, delving into what an audit entails and what auditors are aiming to accomplish. We will also explore actionable strategies to guide clients through audits, streamline the process for everyone, and proactively address potential challenges for future audits. Let’s come together to make audits less daunting, more productive, and ultimately smoother for all parties involved! 

Learning Objectives:

• Articulate the rules governing plan audits and evaluate a specific plan to accurately determine whether it requires an audit for a given calendar year.
• Identify and describe the major sections and objectives of an audit and examine how they align with the materials provided by the TPA and recordkeeper to ensure a cohesive understanding of the audit process.
• Explain effective strategies for supporting clients during the audit process, including methods to streamline communication, foster a sense of organization, and help clients feel secure and on track.
• Implement best practices to optimize your preparation for audits, focusing on strategies that save time and reduce effort while maintaining accuracy and efficiency.
• Analyze common trouble spots encountered during audits and develop proactive strategies to address and avoid these issues in future years, resulting in greater efficiency, cost savings, and reduced stress for all involved.

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