Employee Benefit Plan Audits
Compliance keeping you up at night?
It’s not just compensation; it’s trust. Your employee benefit plans make your people feel valued and rewarded. And our risk-based audits will help you protect that foundation of trust.
Perkins is one of the few regional firms to specialize in employee benefit plan (EBP) audits, and our dedicated team completes more than 70 of them every year.
Rest assured with our year-round support.
We subtract the worry and add strategic expertise to your EBP audit so you can focus on initiatives that benefit your business and your employees the most.
You can always expect us to:
- Help you navigate stringent operational and reporting requirements
- Proactively build solutions to help you avoid penalties for noncompliance
- Share ideas and recommendations to streamline your processes or strengthen your internal controls
- Alert you to new risks
- Look for opportunities to improve and protect your plans
- Keep you current on accounting and regulatory changes that may impact your plan and the plan’s operations
- Provide written reports on our observations and recommendations
Lean on our insider knowledge.
As a member of the AICPA’s Employee Benefit Plans Audit Quality Center (EBPAQC), we are held to the highest standard of compliance and peer review. Shareholder Jennifer Elder serves on the AICPA Technical Standards Enforcement Subcommittee, which supports the AICPA Professional Ethics Division. This committee investigates potential disciplinary matters involving CPAs, including those in audits of employee benefit plans through complaints made to the Department of Labor. Her firsthand knowledge of EBP audit problems and errors reported by the Department of Labor gives us timely insight into issues your own plan may face.
The quality of our audits is second to none. We’ve implemented the following to demonstrate our strong commitment to EBPAQC principles:
Significant annual training for benefit plan auditors
Having a specialized benefit plan audit team led by a designated shareholder
Annual internal inspections using best practices, guidelines, and tools focused on quality improvement
Keeping you in the know about EBP trends, news, and issues
The highest standards of audit quality, compliance, and peer review
We can help you with...
Employee Benefit Plan Audits
- Defined contribution plans, including 401(k), 403(b), and profit-sharing plans,
- Defined benefit plans, including cash balance plans
- Employee stock ownership plans
- Health and welfare plans
IRS & DOL Correction Programs
- Employee Plans Compliance Resolution System (EPCRS)
- Delinquent Filer Voluntary Compliance Program (DFVCP)
- Voluntary Correction Program (VCP)
Our 1:6 ratio means more 1:1
Our ratio of executive team shareholders to staff is unusually low for a full-service regional firm: 1:6 or lower, depending on the service or industry practice group. It means you get the direct, involved attention of our top talent from day one. They proactively offer you strategy, feedback, and ideas all along the way.
Don't take our word for it
“The level of service and professionalism in unparalleled. Almost makes getting an audit enjoyable!”
Housing Authorities Risk Retention Pool
“Perkins & Co is professional in all aspects, but most importantly the people we work with are helpful and friendly and seem genuinely interested in the success of our company. We have worked with Perkins & Co a very long time and they know our business well. During hard times they are open to working with us to keep rates as low as possible. We really appreciate their service.”
Alaska Wildland Adventures, Inc.
Health Insurance Plans
We worked with this client in their first year plan audit.
The company had been working with a third-party administrator that didn’t provide them correct, complete, or timely information.
Our team identified and pointed out this deficiency, corrected the problems, and completed the reporting long before the federal deadline. The client was relieved to have escaped any penalties and, based on our recommendation, have chosen another administrator for their plan.