While employee benefit plans may play an essential role in making your company an employer-of-choice, deficiencies are a problem for plan sponsors and administrators. Fines can exceed $1,000 per day without limit. Experience matters, and you should be confident that your employee benefit plan auditor has dedicated resources to understanding plans.

Did you know: The US Department of Labor (DOL) conducts inspections on employee benefit plan audits and regularly finds a deficiency rate that is too high to protect participants in employee benefit plans. And since plan sponsors and administrators have a fiduciary responsibility to the plan participants, a quality audit from a firm with experience and specialization goes a long way in meeting that fiduciary responsibility.

How can Herbein help?

Our team understands the complex laws and compliance obligations imposed by regulatory authorities – and we’re ranked in the top 20% of U.S. firms based on the number of employee benefit plan audits performed.

We’re so committed to quality employee benefit plan audits that Herbein is a charter member of the American Institute of Certified Public Accountants (AICPA) Employee Benefit Plan Audit Quality Center founded in 2003.