The Internal Revenue Service (IRS) and the Department of Labor (DOL) are placing greater scrutiny on benefit plan financial statements and are imposing hefty penalties on plan administrators who neglect to file or file deficient audit reports. Employee benefit plans are an important part of our practice and our qualified team of experts add value to your employee benefit plan audit.
Unlike other firms, our staff is trained in the intricacies of the requirements for ERISA audits, so you don’t have to worry about training or learning curves. We also have an excellent reputation with our clients for providing continuity of staff, which translates into greater efficiency and better solutions for our clients.
The quality of our services is an important part of how we work with you. Hood & Strong LLP was one of the first members of the newly formed Employee Benefit Plan Audit Quality Center. The American Institute of Certified Public Accountants recently created the center to promote and improve the quality of employee benefit plan audits.
As part of our commitment to delivering value, we provide efficient, effective audits with minimum disruption to your daily operations so that you can continue to operate your business. During the audit process, we do more than fulfill a legal necessity. We look for potential risks that can trigger IRS audits, DOL exams, financial penalties and problems that prevent the plan from operating correctly.
But it is our level of service that truly separates Hood & Strong LLP from the competition. As our client, you’re our priority and you’ll know it at every touch point. From working with people who understand your business to professionals who answers calls and questions promptly and knowledgably, we build relationships that you can count on to build your business.
You can count on us to:
- Perform compliance reviews of defined benefit plans, defined contribution plans, and ESOPs
- Perform Full and Limited Scope Audits of defined benefit plans, defined contribution plans, and ESOPs
- Prepare IRS (Form 5500) Filings
- Assist with Plan Accounting and Financial Statement Preparation
- Provide Information Systems Support