Audit of Employee Benefit Plans

Successfully Providing Public Accounting Services for 30+ Years

Audit of Employee Benefit Plans

Employee Retirement Income Security Act (ERISA) requires an annual audit for the Employee Benefit Plans that have 100 or more eligible participants at the beginning of the year.


Department of Labor (DOL) carries the mandate of reviewing and regulating ERISA audits. Employee Benefit Plan audits are part of an ongoing initiative by the AICPA to strengthen audit quality.


The Department of Labor (DOL) can penalize companies that do not file their audits on time, or if the audit has deficiencies.


Financial Integrity

Help to protect plan’s financial integrity and provide the employees a peace of mind.

Required Funds

Helps users determine whether the required funds will be available to pay retirement, health and other promised benefits to participants.


Helps plan administrator improve and streamline plan operations by evaluating plan’s internal control over financial reporting and identifying possible control weaknesses or errors in plan operations.

Legal Plan

Helps plan sponsor carry out its legal and fiduciary responsibilities to file a complete and accurate Form 5500 for the plan with the Department of Labor.

Why choose us as independent auditor of your employee benefit plan?

Employee benefit plans must follow uniquely complex regulatory requirements from multiple government agencies and are under greater scrutiny than ever before. AFS is one of the few public accounting firms with a dedicated employee benefit plan audit practice, comprised of professionals with the technical skill and knowledge that these specialized engagements demand. We understand the complexities involved – from compliance with laws and regulations to coordination between plan sponsors and various service providers.

Our employee benefit plan audit services cover numerous plans subject to the Employee Retirement Income Security Act (ERISA) under the regulatory authority of the U.S. Department of Labor. Whether your plan requires a full-scope audit or is eligible for the limited-scope audit exemption, our professionals have experience with a wide-range of employee benefit plans including:

  • 401(k) plans
  • Profit sharing plans
  • 403(b) plans
  • Employee stock ownership plans (ESOP)
  • Defined benefit pension plans
  • Cash balance pension plans
  • Health and welfare plans


A quality audit, performed with accuracy by an experienced audit firm, provides vital protection for your employee benefit plan, its participants and its administrators. It is in your best interest to secure the services of an audit firm with the experience and expertise necessary to complete an EBP audit as per the professional standards and DOL guidelines.