"If an auditor concludes that a plan has a 'significant deficiency' in the plan's internal controls (but that deficiency does not rise to a 'material deficiency'), must that be reported in the plan's financial statements attached to the plan's Form 5500?"

"We have a very standard NQDC Plan. Section 409A-compliant. Elective deferrals and employer contributions. Are there any risks that a standard NQDC Plan can make the company/sponsor subject to any Securities Law or Blue Sky Law (Federal/State) requirements?"