Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
Nova 401(k) Associates
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|Tips for Preparing for Your Employee Benefit Plan Audit|
DiCicco, Gulman & Company LLP
May 19, 2015
"Start by understanding the provisions in your plan documents and adoption agreements.... Schedule a meeting with all of your service providers... Ask your auditors for a planning letter specifying what information and in what format they will need for the audit.... Delegate a gate-keeper to keep track of all audit information... Understand what the auditors will be testing.... Compare your Form 5500 to your financial statement so that you can identify and resolve any discrepancies prior to the audit."
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