At last week’s Northeast Area Benefits Conference, co-sponsored by the IRS and ASPPA, two Certified Public Accountants discussed the many moving parts of a retirement plan audit. Timothy J. Desmond, ...
The retirement plan audit is, for most plans, an annual occurrence, but it can still strike fear into the hearts of many—especially those selected for a random audit. It is also a process during which ...
Understanding when and what type of a 401(k) audit is needed — and what that audit will entail — can help keep a company’s plan in compliance with IRS and Department of Labor requirements. Start by ...
The main objective of an audit is to give a true and fair view of a company's state of affairs at a given date. Preparation of the audit report is the last step of an audit cycle. The report renders ...
Employee benefit plan sponsors and ­administrators can save time selecting an audit firm and evaluating the quality of its services by writing a thorough Request for Proposal (RFP). Consider these ...
Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...
When a company establishes itself in the marketplace, it relies upon its employees to help it do so. Employees represent one of the most important assets a company has; securing those assets is the ...
One of internal audit's values is to tell management when the controls to manage risks and assure opportunities aren't working. Internal audit should have a plan for the work it will do, and by now we ...