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Employee Benefit Plan

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Fiduciary responsibility is a big deal. With that in mind, Witt Mares formed the Employee Benefit Plan Team, a hand-picked group of experienced professionals dedicated to providing qualified plan audits to a variety of clients.

Team members on the Witt Mares Employee Benefit Plan Team are experienced high performers who enjoy the challenge that employee benefit plan auditing provides. Currently, the team performs audits of more than 60 employee benefit plans, including the plans of a number of public companies.

Employee benefit plan audits are available to Witt Mares clients either as part of the complete package of accounting, tax, and consulting services we offer, or on a stand-alone basis. Whatever direction you choose, your plan audit is job one for our team of dedicated professionals. We practice a streamlined approach that yields greater efficiency and more cost-effective service than the larger, international firms can provide.

Our clients can be assured that we accept no commissions from Third Party Administrators (TPAs) or investment managers for the plan audits we perform, freeing us from any conflicts or issues of independence. Our focus is on compliance services, including employee benefit plan audit and tax compliance services. Witt Mares does not administer any plans, allowing us to maintain greater objectivity. This gives plan fiduciaries a high quality product and increases their peace of mind.

What We Provide

Audits of employee benefit plans involve more than a financial audit of plan assets. In fact, these audits take an in-depth look at an organization’s compliance with myriad relevant regulations.

Count on our Employee Benefit Plan Team to help ensure that your benefit plan meets all regulatory requirements:

  • Our team specializes in auditing employee benefit plans, including, but not limited to: 401(k) plans, defined benefit pension plans, employee stock ownership plans (ESOPs), profit-sharing plans, money purchase pension plans, and other employee benefit programs.
  • The team receives extensive, ongoing compliance training, keeping them ahead of the curve on new developments and techniques. This provides peace of mind to our clients, while improving our audit efficiency.
  • The team implements a focused, proven, step-by-step approach to planning and executing your audit, yielding a timely, thorough result.
  • The team performs a comprehensive analysis to determine that your plan's operation complies with both its documentation needs, as well as with Employee Retirement Income Security Act of 1974 (ERISA) provisions that may impact your company.

Issues & Perspectives

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How You Benefit

Witt Mares is distinguished by an exemplary dedication to client service with high professional standards. Our clients have dedicated resources available to answer questions, and to provide updates as to the progress of an audit at any time.

All of our employee benefit plan audit clients benefit from:

  • Timely delivery of a high quality audit at competitive costs
  • Practical recommendations that have helped clients fine-tune internal procedures, thereby saving time and resources for their organization
  • A highly efficient audit conducted in such a manner that minimizes the need for client assistance

Professional Affiliations

Witt Mares is a member of the American Institute of Certified Public Accountants' (AICPA) Employee Benefit Plan Audit Quality Center. The center is a national community of CPA firms that demonstrate a commitment to employee benefit plan audit quality and raise awareness about the importance of employee benefit plan audits.

The center provides members with best practices, guidelines, and tools CPAs need to perform quality benefit plan audits and better serve their clients. Requirements for membership in the Center include:

  • Designating a partner with firm-wide responsibility for the quality of the firm's ERISA employee benefit plan audit practice
  • Maintaining and demonstrating high quality audit services
  • Establishing a firm-wide training and quality control programs for all staff conducting ERISA employee benefit plan audits
  • Performing annual internal inspection procedures
  • Including ERISA plan audits in the peer review process and making the firm's peer review report findings publicly available
  • Periodically file information about recent employee benefit plan audits with the Center and agree to make all records publicly available
Employee Benefit Plans

Your plan audit is job one for our team of dedicated professionals.

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