bzorc Posted June 8, 2023 Posted June 8, 2023 As I dabble as a benefit plan auditor in my spare time, the following issue came up yesterday; any thoughts would be appreciated: We have a benefit plan out in New Jersey where the manager on the plan reached out to Nationwide for an asset certification so that an ERISA Section 103(a)(3)(C) audit could be completed for 2022; they have always received a certification from Nationwide in the past, but one was not included in the package they received this year. They received a response from Nationwide that “after consultation with our auditors, we are no longer issuing certifications on assets held with Nationwide”. I have a Nationwide client that I have already received the certification letter from for 2022. Has anybody heard anything about Nationwide not certifying their reports anymore? All of a sudden there could be folks out there that need a non-ERISA Section 103(a)(3)(C) audit…..
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