How To Survive an Employee Benefit Plan Audit

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Welcome to another enlightening episode of Middle Market Dojo! Join us as we welcome two experts in the field of Employee Benefit Plan (EBP) audits, Jennifer Patschke, CPA and Kim Marek, CPA. In this captivating discussion, we explore the intricacies of EBP audits, focusing on essential topics such as 5500 filings, the Department of Labor’s (DOL) audit requirements, common plan sponsor mistakes, and effective implementation of employee benefit plans.

Unravel the mysteries surrounding 5500 filings as Kim and Jennifer provide valuable insights into what the Department of Labor (DOL) scrutinizes during audits. Learn about the key factors that can make or break a successful EBP audit and gain an understanding of the common mistakes plan sponsors make and, most importantly, how to avoid them.

Discover the various functions that are essential for implementing a proper employee benefit plan. From management’s responsibilities to internal controls, including service organizations, our experts shed light on the crucial elements that ensure the integrity and efficiency of an EBP.

Gain a comprehensive understanding of the audit process itself as Kim and Jennifer take you through a step-by-step journey. From selecting a quality auditor to managing the audit process, they provide practical tips and strategies to ensure a seamless and effective EBP financial statement audit.

As an added bonus, our experts share valuable insights to make your audit experience more efficient. Discover time-saving techniques, best practices, and effective strategies to optimize resources and streamline the audit process.

Whether you’re an EBP administrator, a plan sponsor, or simply interested in the intricacies of financial audits, this episode of Middle Market Dojo is a must-watch. Join us as we unravel the complexities of Employee Benefit Plan audits, and don’t forget to like, share, and subscribe for more invaluable episodes packed with expert knowledge!

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