Employees consider retirement and benefit plans an essential part of their employment package. Well designed and administered plans provide peace of mind and security for employees. Plan administration is complex and usually requires advisors and experts to assist with design and administration. Larger plans have annual filing requirements with the IRS and Department of Labor. Annual financial statements along with a CPA auditor’s report are part of the reporting requirements. A qualified, experienced CPA can make all the difference in meeting these requirements and easing the burden on Company personnel. At Campbell Taylor & Company, we are expert benefit plan auditors. We have many years of experience and it shows in the way we serve our clients. Here is what some of our clients say…………
CFO, 600 participant 401k and ESOP plans: “Campbell Taylor provides top quality service, they look beyond the numbers and really understand how our plans work”
President, 200 participant 401k and ESOP plans: “Campbell Taylor partners and staff provided extraordinary service and helped us resolve issues with the DOL and our past form 5500 filings”
HR Manager, 400 participant 401k and ESOP plans: “We have used Campbell Taylor for 15 years, they have always been responsive and provided great insights to help me administer our plans”
HR Manager, 6,000 participant 401k plan: “Campbell Taylor has provided us with excellent audit services for more than five years. They have also been a great resource in dealing with compliance issues and with a DOL audit”
Selecting a Plan Auditor
A quality audit will help protect the assets and the financial integrity of your employee benefit plan. A quality audit will also help you carry out your legal responsibility to file a complete and accurate annual report for your plan each year. Because an incomplete, inadequate, or untimely audit report may result in penalties being assessed against you as the plan’s administrator, selection of an experienced and reliable auditor is very important.
Your plan auditor should have experience in auditing employee benefit plans >
According to the Department of Labor, one of the most common reasons for a deficient auditor’s report is the failure of the auditor to perform tests in areas unique to employee benefit plan audits. The more training and experience that an auditor has with employee benefit plan audits, the more familiar the auditor will be with benefit plan practices and operations, as well as the special auditing standards and rules that apply to such plans. >
What we offer
Campbell Taylor & Company has a team of experienced CPAs and professional staff who specialize in auditing employee benefit plans of businesses throughout California. Our areas of expertise include: >
· 401(k) Plans
· Profit Sharing Plans
· Employee Stock Ownership Plans (ESOP)
· Health and Welfare Plans
· Pension Plans
Campbell Taylor & Company has specialized expertise in auditing employee benefit plans and we currently serve as auditors to more than 60 employee benefit plans. This expertise allows us to effectively plan and complete the audit in a timely manner while providing quality service. Our audits are tailored to the needs of our clients. You will receive the benefit of a close-working relationship while maintaining the objectivity, independence, and continuity expected from an independent Certified Public Accountant.
HOW OUR CLIENTS BENEFIT
Experience. Our team offers a wide scope of knowledge and experience. Team members have made a commitment to focus their career working with our firm’s employee benefit plan audit clients. Campbell Taylor & Company is committed to quality growth in this area. Our team regularly receives specialized training for performing quality audits of employee benefits plans, keeping us up to date on new developments and requirements.
We work with many plan advisors such as administrators, attorneys and appraisers and we know how to coordinate with these advisors to conduct a smooth and effective audit. Generally, we communicate directly with the plan administrators to resolve any issues and complete the audit. This not only saves you time, but you and your staff don’t have to act as the go-between to get the audit completed.
Advice. In addition to the compliance function of the audit, our team offers management advice to assist our clients in enhancing internal procedures, often increasing efficiency and improved internal control of plan operations.
Efficiency. Our experience and training allows us to perform the employee benefit plan audit efficiently which yields minimal disruption to our clients’ business operations and workflow. The team is dedicated to sharing the knowledge and resources obtained while performing audits and attending national training courses so that our Employee Benefit Plan Audit team can provide the most efficient and informative results for our clients.
Peace of Mind. Ultimately, our clients gain peace of mind knowing they have limited the risk of significant financial penalties or even disqualification of the plan relating to noncompliance with ERISA audit requirements.
Quality and Integrity. We are subject to a rigorous peer review every three years to ensure the quality of our work is in accordance with professional standards. Our most recent peer review was an unqualified opinion with no letter of comments, a rating that less than 15% of all firms obtain.
Campbell Taylor & Company is a member of the American Institute of Certified Public Accountants (AICPA) Employee Benefit Plan Audit Quality Center (EBPAQC). The center was established to help employee benefit plan sponsors and administrators connect with auditors committed to quality. The Center provides best practices, guidelines, tools and resources for audit firms to help them perform quality audits and raises awareness about the importance of doing so.
SERVICE WITH CONFIDENCE
We have audited benefit plans for over 30 years and we understand how to best serve our clients. We are members of the AICPA and the California Society of Certified Public Accountants
Campbell Taylor & Company provides everything you need for a top quality employee benefit plan audit. We hope that this information conveys our enthusiasm and capabilities to provide you with the highest level of professional service.
Campbell Taylor & Company: Members of The ESOP Association, Western Pension Association, and Employee Benefit Plan Audit Quality Center.
