Employee Benefit Plan Audits

Protect Your Employees

Strengthen Your Compliance

Employee Benefit Plan Audits that Safeguard Your Team and Secure Your Future.

FAQ

When Employee Benefit Plan Audits Are Overlooked, Everyone Is at Risk

Overlooking a required employee benefit plan audit can quickly become a costly mistake. Regulatory agencies can issue steep penalties for non-compliance, and even minor reporting errors may jeopardize participant benefits. Gaps in plan oversight or inaccurate filings put plan assets and your company’s reputation on the line. Filing Form 5500 without the necessary audit doesn’t just risk fines—it can trigger regulatory scrutiny and create unnecessary stress for you and your team.

Precise, Independent Employee Benefit Plan Audits—So Nothing Falls Through the Cracks

Our audits offer a thorough, independent review of your plan’s finances and operations. We examine benefit payments, employer and employee contributions, investments, and administrative expenses. Our experienced team verifies participant data and plan eligibility while ensuring strict ERISA compliance. With clear reporting and practical recommendations, you gain confidence that your plan is managed properly and your obligations as a fiduciary are fully met.

What Triggers an Employee Benefit Plan Audit?

You’ll need an employee benefit plan audit if your plan has 100 or more eligible participants with account balances on the first day of the plan year. This requirement is often linked to the annual Form 5500 filing. Missing the audit deadline can cause compliance issues, regulatory inquiries, and unnecessary complications for your business.

How the Process Works

1. Discovery & Planning

We review your plan documents, clarify requirements, and set a clear roadmap.

2. Fieldwork & Testing

Our team examines contributions, benefit payments, investments, participant data, and compliance with plan rules.

3. Reporting & Guidance

You receive a clear, actionable report, with practical recommendations to support ongoing compliance, financial integrity, and your responsibilities as a plan sponsor.

The Real Value of a Thorough Audit

A high-quality audit protects your employees’ benefits, demonstrates your commitment to fiduciary duty, and keeps your business on the right side of regulations. It’s about more than just compliance—it's an opportunity to strengthen trust with your team, avoid costly missteps, and ensure your plan’s financial health. When done right, audits create peace of mind for everyone involved.

Every Detail Covered—Every Obligation Met

Every audit includes a complete financial statement review, ERISA and regulatory compliance checks, plan document and participant data testing, and—when needed—a full-scope investment audit. You’ll also receive clear, actionable recommendations to help you strengthen plan operations and meet your fiduciary obligations.

The Assurance Your Team Deserves

A thorough audit delivers assurance that your plan is secure, compliant, and built to serve your employees well. You gain peace of mind, demonstrate your commitment as a responsible plan sponsor, and prepare your business for whatever comes next.

Let’s Protect What Matters Most

Ready for an audit that protects your people and your business?

Empower your team. Schedule a consultation with Geri today!

Frequently Asked Questions About Employee Benefit Plan Audits

  • An employee benefit plan audit is a detailed, independent examination of your plan’s financial statements, participant data, and operational procedures. This process ensures that your plan is managed correctly, benefits are properly administered, and regulatory requirements are met. It’s designed to protect your plan participants and uphold your fiduciary responsibilities.

  • Yes—our audits can follow Generally Accepted Government Auditing Standards (GAGAS) when required. This ensures a rigorous level of quality and independence, often necessary for plans subject to additional government oversight. We tailor our approach to meet your specific compliance needs.

  • Generally, any benefit plan with 100 or more eligible participants with account balances as of the first day of the plan year must have an audit. This requirement applies to most retirement and health benefit plans and is tied to the annual Form 5500 filing. Smaller plans may not require an audit, but reviewing your participant count each year is essential.

  • Employee benefit plan audit requirements can change as regulations update annually. We monitor new developments and ensure your plan remains compliant with the latest standards for 2025 and beyond. Rely on us to keep you informed and prepared for any changes.