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DOL Unhappy With Plan Audit Quality (PDF)
BuckLink to more items from this source
June 11, 2015
"DOL said the result of the unacceptable audits was 'putting $653 billion dollars and 22.5 million plan participants and beneficiaries at risk.' Their report correlated an increasing deficiency rate shown by this and prior studies with an increasing number of plans using the limited scope audit exemption. The deficiency rate in their 1988 study found defects in 23% compared to the 39% finding in the current study. The limited scope audit exemption was used by 48% of plans in 2001 and by 2013, 83% of plans."

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