Sector Expertise

Home Sectors Employee Benefit Plans

Employee Benefit Plans

Employee benefit plan audits include pension, health and welfare, and 401(k) plans subject to the Employee Retirement Income Security Act (ERISA) under the regulatory authority of the U.S. Department of Labor (DOL). PKF, P.C. is a leader in this very complex and specialized field, with over thirty-five years of experience auditing employee benefit plans. Our audit professionals have the training and expertise that enables our firm to provide the most cost effective audits for our clients.

PKF, P.C. is a member of the AICPA Employee Benefit Plan Audit Quality Center (EBPAQC), a firm-based voluntary membership center for firms that audit employee benefit plans. Being a member of the EBPAQC not only demonstrates PKF's commitment to quality in the performance of ERISA audits, but we are also able to access resources designed to enhance our audit quality and to apply best practices.

The following is a brief outline of our engagement approach for auditing benefit plans:

  • Incorporation of statistical sampling and analytical  procedures to ensure an efficient audit.
  • Gain an understanding of the plan and its environment which enables us to   identify the risks and tailor an audit approach that is specific for the plan.
  • Perform tests in areas unique to the employee benefit plan
  • Detail the reports to be issued.
  • Set timeline and completion dates for the engagement.
  • Set expectation for the level of plan staff assistance.
  • Detail the information that is expected to be provided by the plan.
  • Determine tax or other professional services our firm is able to provide.