Employee Benefit Plan Audit

The Team

Phillip C. Dalrymple, CPA, CFE

Shareholder, Assurance

Karly A. Meza, CPA

Shareholder, Assurance

From performing plan audits in accordance with Employee Retirement Income Security Act (ERISA), to advising on regulatory and reporting requirements, to providing consulting services across the entire ERISA spectrum, R&A CPAs understands the fiduciary responsibilities and risks that plan sponsors face.

Form 11-K Requirements

If a company files a registration statement under the Securities Act of 1933 for its securities held by its employee stock purchase, savings, or similar plan and has reporting obligations under Section 15(d) of the Exchange Act, a Form 11-K annual report is required to be filed with the SEC.

Our team assists clients required to file Form 11-K—we work closely with plan management to ensure that the plan’s filing meets all the necessary SEC disclosure requirements. We also understand the unique requirement to meet both Generally Accepted Auditing Standards (GAAS) and Public Company Accounting Oversight Board (PCAOB) standards and ensure that plan audits are performed in compliance with these standards. R&A is one of just four accounting firms in Arizona to be accredited by the PCAOB and thus able to support companies required to file this form.

Staff Expertise

Our team of employee benefit plan auditor specialists stays current in this highly technical practice area by attending various continuing education programs including the annual AICPA National Conference on Employee Benefit Plans. They also review publications from the Profit Sharing/401k Council of America, United States Department of Labor’s Employee Benefits Security Administration, and the AICPA Employee Benefit Plan Audit Quality Center. Our Employee Benefit Plan audit services include:

  • Audits of pension, health and welfare, and 401(k) plans subject to ERISA
  • Consulting services related to employee benefit plans
  • Preparing IRS Form 5500 and summary annual reports

Our Quality Commitment

As a member of the American Institute of Certified Public Accountants Employee Benefit Plan Audit Quality Center, we adhere to the highest quality standards by always staying in accordance with the center membership requirements. This includes designating a partner responsible for our employee benefit plan audit practice, establishing quality control programs, performing annual internal inspection procedures, and making our peer review report findings publicly available.

  • Strong technical knowledge of GAAP, ERISA, and PCAOB standards and requirements
  • Truly independent review and insights
  • Significant understanding of how to mitigate risks and adhere to regulatory requirements
  • A methodical approach that results in timely filing of Form 5500s without fire drills
  • Staff continuity from year to year to enhance efficiencies
The R&A Advantage

We have a dedicated team of auditors with the specialized knowledge and experience to efficiently and effectively audit a firm’s employee benefit plan, providing trustees, plan administrators, and human resources personnel confidence in their reporting and management.