overview of employee benefit plan audits

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EMPLOYEE BENEFIT PLAN AUDITS run deep our roots

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An overview of EBP Audits. For companies with more than 100 participants in an employee benefit plan, having an EBP audit performed can be mandatory. But not just any Certified Public Accountant (CPA) can perform a quality EBP audit. Many simply provide it as an ancillary service, particularly as a courtesy to their corporate clients. It takes focus, dedication and experience to do the job right...and that’s exactly the way we do business at Mayer Hoffman McCann P.C. (MHM).For more information, visit http://www.mhm-pc.com

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Page 1: Overview of Employee Benefit Plan Audits

EMPLOYEE BENEFIT PLAN AUDITS

run deepour roots

Page 2: Overview of Employee Benefit Plan Audits

EMPLOYEE BENEFIT PLAN AUDITS

Fairly valued plan assets. Timely plan contributions. Properly stated plan obligations. Accurate benefit payments. These are all things that the Department of Labor (DOL) is evaluating as they continue to regulate and monitor employee benefit plans. After decades of regulation, the DOL continues to find that there are a significant number of Employee Benefit Plan (EBP) audits that do not meet DOL requirements. Will yours withstand the scrutiny?

For companies with more than 100 participants in an employee benefit plan, having an EBP audit performed can be mandatory. But not just any Certified Public Accountant (CPA) can perform a quality EBP audit. Many simply provide it as an ancillary service, particularly as a courtesy to their corporate clients. It takes focus, dedication and experience to do the job right...and that’s exactly the way we do business at Mayer Hoffman McCann P.C. (MHM).

Over the past 20 years, MHM has developed a top-notch EBP audit practice with dedicated leadership, training and methodology. We are committed to providing our clients with a reliable, timely, high-quality audit. It’s the only way we do things.

Page 3: Overview of Employee Benefit Plan Audits

Plan Types

While each plan type does have its own unique nuances, our depth and breadth of expertise when it comes to an EBP audit is unmatched by most other firms. Whether a company has one or multiple EBPs, we work on many different EBP types including:

n Defined Benefitn Defined Contributionn Profit Sharingn ESOPsn 11-kn 401(k)n 403(b) n Multiple employer welfare

arrangements

Our Experience

With a dedicated team of EBP auditors and as one of the nation’s leading EBP audit providers, MHM is committed to providing quality, thoroughness and precision at an affordable price. Our national EBP audit practice has grown to over 1,200 plan audits annually for a wide-spectrum of companies. We work with both public and private companies and companies ranging from small-medium sized to Fortune 500 companies.

Professional Involvement

MHM was one of the first firms to join the AICPA’s Employee Benefit Plan Audit Quality Center, which now has over 2,200 members. We also have professionals who are active members of both the Employee Benefit Plan Audit Quality Center and the Employee Benefits Technical Resource Panel. MHM’s commitment to quality EBP audits goes even further with our continued investment in firm-wide technical training and annual internal inspections. We ensure our profession-als receive specialized training and are kept up to date on the latest changes impacting EBP audits and all related topics such as updates on the Form 5500, independence matters, disclo-sures and fiduciary responsibility.

Why Choose MHM?

With the constant change in the rules and filing requirements, it is imperative companies choose an auditor who specializes in employee benefit plans. Otherwise it could be troublesome, or in the worst cases, costly. MHM is one of the nation’s Top Ten accounting firms and has access to vast resources and expertise throughout the country. Our EBP audit practice is one of our leading industry/niche practice areas, not just an ancillary service like many other firms provide. Since it is a dedicated practice for us, your company can benefit from the efficiencies we’ve created, which translate to timely completion of work and potential cost savings. Furthermore, our involvement in the profession and depth of expertise allow us to provide added value to our clients by assisting them in developing a better understanding of their EBPs and the related filing and compliance requirements.

Page 4: Overview of Employee Benefit Plan Audits

our roots run deep™

www.mhm-pc.com

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ABOUT MAYER HOFFMAN McCANN P.C.

Mayer Hoffman McCann P.C. is a national, independent CPA firm that has grown and flourished to

become a national alternative to the Big Four. While we have resources across the country in more than

35 offices, we maintain that our clients deserve personalized, premier caliber service. Guided by our

core values of competence, integrity, respect and value, our professionals and our firm, operate as your

trusted advisor.

At MHM we are steadfast in our commitment to you and the public to deliver sound financial

reporting and reliable assurance services. You have our commitment to responsive service

and compliance with the profession’s highest technical and ethical standards.

Mayer Hoffman McCann P.C. provides a comprehensive range of audit and attest services including:

n financial statement audits of public and private companies and nonprofit organizations

n yellow book audits

n SOC Reports of service organizations

n employee benefit plan audits

n SEC advisory services

n litigation support

n reviews

n compilations

n other attest services