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DOL Audit Quality Study: Employee Benefit Plan Auditors Are Not Making the Grade
Belfint Lyons & Shuman, CPAs Link to more items from this source
May 27, 2015

"[The DOL recently] compared auditing retirement plans to brain surgery.... [after releasing] a report from a study that the agency conducted on the quality of retirement plan audits. The results are not favorable. As one would expect, the number of deficiencies the DOL noted show a direct correlation to the size of a firm's employee benefit practice. It appears that many general accounting practitioners are performing these audits and do not have adequate experience or knowledge to perform sufficient audits under the professional standards."

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