Randall & Hurley, Inc.
EPIC Retirement Plan Services
Loren D. Stark Company
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|Deficient Plan Audits Tied to Auditors' Size, Experience|
HR Daily Advisor
June 11, 2015
"The agency found a nearly 76-percent deficiency rate for yearly audits of plans' financial statements conducted by independent qualified public accountants that had just one or two benefit plan clients; the rate dropped to 12-percent deficiency among a firm's plan clients when it handled 750 or more of these audits. As a whole, 61 percent of the audits reviewed fully complied with professional auditing standards or had only minor deficiencies under professional standards."
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