Ensuring Compliance: Our EBP and 401(k) Audit Services

Employee Benefit Plan (EBP) and 401(k) audits can be challenging for businesses due to their complexity and specificity–not to mention financial and operational risks, time and resource constraints, the complex regulatory environment, and fiduciary responsibility. These audits are essential for ensuring compliance with the Employee Retirement Income Security Act (ERISA) and other regulatory standards.

Our dedicated team has a thorough understanding of these requirements and manages the entire process from beginning to end. Furthermore, we offer tax advisory services to cater to any additional needs that may arise.

Specialized EBP/401k Audit Services
By entrusting us with your EBP/401k audits, you can be confident in compliance and have a reduced internal workload. As part of our process, we perform the following checks and reviews:

- Regulatory Compliance Check
- Financial Statement Accuracy
- Operational Review
- Participant Data and Contributions Verification
- Investment and Asset Valuation
- Loan and Distribution Processing
- Internal Controls Assessment
- Eligibility and Enrollment Review
- Plan Document Compliance

Comprehensive Audit Solutions
Our expertise extends beyond EBP/401k audits. Madras Accountancy offers a range of audit services tailored to meet various needs, including:

- Compilation and Review Engagements
- Audits of Financial Statements
- Affordable Housing Project Audits
- Not-for-Profit Audits
- Fund Auditing
- Agreed-Upon Procedures
- Tax Audits
- Clerical Assistance for Year-End Needs

Beyond Audits: Tax and Advisory Services
Recognizing the challenges faced by CPA firms, especially during peak seasons, we also offer tax return preparation and Client Accounting and Advisory Services. Our tax professionals are available to ensure timely and accurate tax return filings for individuals, corporations, and specialized entities. Additionally, our Client Accounting and Advisory Services address the diverse financial needs of your clients, offering everything from bookkeeping to strategic financial planning.

Working Together
We understand that these audits are crucial for ensuring compliance, financial health, and operational effectiveness of employee benefit plans. They require careful preparation and specialized expertise to navigate successfully. Our team is ready to assist with any upcoming engagements or discuss tailored solutions that fit your needs. Please reach out to us with any questions, we look forward to speaking with you.