Employee Benefit Plan Audits | Burdette Smith & Bish

According to the Department of Labor (DOL) Employee Retirement Income Security Act (ERISA) regulations, an annual audit of certain employee benefit plans must be conducted. The results of this audit are then filed with the Form 5500 and submitted to the DOL. Audits of these plans have become increasingly complex due to new regulations and financial reporting requirements. It is therefore key that the chosen auditor possess and maintain a keen understanding of these filing requirements and complexities.

At Burdette Smith & Bish, LLC (BSB) we possess and maintain that understanding. As members of the AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) we have a dedicated team of auditors who specialize in employee benefit plan audits. Our knowledge of generally accepted accounting principles and ERISA requirements allows us to provide independent insights, which will assist in mitigating risks while adhering to regulatory requirements. Our careful approach results in a timely filing of Form 5500s with minimum stress.

At BSB, our services include audits of:

401(k) plans (BSB 401(k) plan audit Q and A)
403(b) plans
Profit sharing plans
Pension Plans
Safe Harbor 401(k) Plans
Multiple- Employer Plans
Prevailing Wage (Davis-Bacon) Plans

We also provide:

Documentation and explanation of operational compliance issues
Consultation on Correcting Identified Noncompliance Issues
DOL representation
AICPA Employee Benefit Plan Audit Guide-Based Work
Form 5500 filing
401(k) CPE Opportunities

Our objective for an EBP audit is not only to ensure that your plan is in compliance with the IRS and DOL’s regulations and requirements but also to provide consulting and financial planning to ensure that you are minimizing your costs and risks. We are flexible with our work schedule; most of our audits take place between February and August along with the choice of an off-site or on-site audit to best fit your needs.

Click here to download BSB Employee Benefit Plan Audit

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“I have had the pleasure of working with Burdette Smith & Bish over the last two years. The individualized attention I have received has been nothing short of exceptional. They have identified multiple tax-savings strategies our previous CPAs did not uncover. Also, the time and effort they put into my return gives me the peace of mind I need to focus on my business rather than my taxes. All of the plaudits and recognition they receive is certainly well-deserved. They truly are ‘not your average CPA Firm.’ “

Partner, Web Retailer

“As a small business owner, taxes can be confusing and overwhelming. I am so glad I was referred to Burdette Smith & Bish, LLC. They have been lifesavers, answering all of my many questions in layman’s terms, treating me alike a person, and not just another client. They understand my struggles as a business owner and encourage me at every chance. I highly recommend BSB and I am grateful for their services.”

Owner, Child Care Center

I came to BSB initially for corporate tax help. That was 10 years ago. I am using BSB more now than ever. As my company evolved, BSB was able to grow right along side of it. Tom Crutchfield at BSB, has been very knowledgable and great resource for Consequent Solutions for tax, accounting, and auditing related services.

Government Contractor

As an owner of a rapidly growing small business, we needed an experienced bookkeeping & business advisory partner to keep up with all of the changes my organization was going through. We found that partner in Burdette, Smith & Bish. They are an integrated part of our team and an invaluable resource for us as we go through our growth phase.

Michael Delpierre Conversion Pipeline