Employee Benefit Plan & Pension Audit Expertise

Employee benefit plan audits require more than financial statement expertise. They demand an understanding of plan operations, participant data, investments, contributions, distributions, regulatory requirements, and the fiduciary responsibilities surrounding plan administration.

BMK360CPA provides focused audit and assurance services designed to help plan sponsors, administrators, and fiduciaries meet their reporting responsibilities with confidence.

Why Specialized Pension Audit Experience Matters

Pension and employee benefit plans present risks that may not arise in a traditional financial statement audit. Accurate participant information, eligible compensation, contributions, benefit payments, investments, and plan provisions all require careful attention. An experienced plan auditor understands where these risks arise and how they affect the audit.

Plans We Serve

BMK360CPA provides audit and assurance services for employee benefit and retirement plans, with an audit approach tailored to the plan’s structure, operations, investments, and reporting requirements.

  • 401(k) Plans
  • Defined Benefit Pension Plans
  • Defined Contribution Plans
  • Profit-Sharing Plans
  • Other Employee Benefit and Retirement Plans

What We Examine

Our audit approach focuses on the areas that can have a significant impact on the accuracy, compliance, and integrity of an employee benefit plan’s financial reporting.

  • Participant eligibility and census data
  • Employee and employer contributions
  • Benefit payments and distributions
  • Plan investments and related income
  • Participant accounts and allocations
  • Plan expenses and administrative costs
  • Consistency with governing plan documents
  • Financial statement presentation and disclosures

Common Pension & Benefit Plan Audit Risks

Employee benefit plan audits can uncover issues that affect financial reporting, plan administration, and audit readiness. Identifying these issues early gives plan management time to investigate and address them before they delay the audit.

Participant Data Errors
Incomplete or inaccurate census and participant information can affect eligibility, contributions, allocations, and benefit calculations.

Contribution and Remittance Issues
Employee and employer contributions may be inaccurate, unsupported, or not processed in accordance with applicable plan requirements.

Benefit Payment and Distribution Errors
Payments may not agree with participant records, plan provisions, or supporting documentation.

Investment and Valuation Issues
Investment balances, income, and valuation information may be incomplete, inconsistent, or insufficiently supported.

Plan Document and Operational Differences
Actual plan operations may not always align with the provisions established in governing plan documents.

Financial Reporting and Disclosure Issues
Incomplete reconciliations, unsupported balances, or inadequate disclosures can create additional work and delay completion of the audit.

Is Your Pension Plan Audit-Ready?

Answer six quick questions to identify potential audit-readiness issues before fieldwork begins.

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Prepare for a More Efficient Pension Plan Audit

A successful employee benefit plan audit starts before fieldwork begins. Complete records, timely reconciliations, consistent plan administration, and well-organized supporting documentation can help reduce delays and allow issues to be addressed early.

BMK360CPA brings focused audit and assurance experience to employee benefit and pension plan engagements, helping plan sponsors and administrators approach the audit process with greater confidence and readiness.

Planning Your Next Employee Benefit Plan Audit?

Talk with BMK360CPA about your plan, audit requirements, timeline, and preparation needs.

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