Take care of your business as you take care of your employees.
Making sure your employee benefit plan meets all of the Department of Labor (DOL) and Employee Retirement Income Security Act of 1974 (ERISA) requirements is a key responsibility for most businesses. An audit of the plan can ensure this is the case, and if your company has over 100 employees, the DOL mandates that you undergo an employee benefit plan audit each year.
During an employee benefit plan audit, our team determines if the plan assets are fairly valued, if plan obligations are properly stated, if contributions were received in a timely manner, and if plan payments followed the terms. At the conclusion of the audit, DHJJ issues a report that includes suggestions on how to improve internal controls and operations.
Ensure Your Employee Benefit Plan Meets All Requirements
DHJJ is a member of the Employee Benefit Plan Audit Quality Center (EBPQAC) with the AICPA to keep up with best practices for businesses in Chicago and throughout Illinois. Our knowledge of the EBP industry and technical expertise sets us apart from other firms in the Chicago area to ensure a high-quality audit. With experience in running employee benefit plan audits for Illinois companies, DHJJ delivers a proven process that delivers the required reports and targeted recommendations.
Types of plans audited include:
- 401(k) plans
- Profit Sharing plans
- Defined Contribution plans
- Employee Stock Ownership plans
Don’t risk stiff fines by ignoring this important aspect of your business accounting; stay on top of your fiduciary duties and all the complex DOL ERISA rules that apply to your benefit plan with annual audits by the experienced team at DHJJ. Contact our audit and assurance team at 630-420-1360 to schedule an appointment.