ERISA Audit Support Services
Fiduciary Advisors provides accounting, financial reporting and other consulting services to plan sponsors subject to ERISA audit requirements. Specifically, our audit support services include:
- Documentation of the control environment
- Evaluation of SAS 70 reports and documentation of how “User Controls” assumed in these reports are achieved
- Preparation of year end trial balance and reconciliation of same to investment account statements provided by asset trustees or custodians
- Preparation of financial statements
- Assembly and /or preparation of other documents and schedules requested in audit planning letters
FAI can take “Prepare for Plan Audit” off of the “To Do” list of plan sponsors. FAI will work with auditors and service providers to put together a comprehensive audit package as soon as a plan’s year-end participant reports and investment statements are available. This should allow plan sponsors and plan auditors to schedule audits more effectively and potentially avoid extension of Form 5500 Annual Reports.