Understanding Auditor Communications
Plan Sponsors and others receive various communications from their plan auditors throughout the year.
Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions
Hiring a service organization to perform plan administration services is a fiduciary function and, as such, plan administrators are required to periodically monitor their service organizations to ensure they are performing the agreed-upon services.
The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets
Effective controls reduce the risk of asset loss and help ensure that plan information is complete and accurate, financial statements are reliable, and laws and regulations are complied with.
Valuing and Reporting Plan Investments
Investments are the most significant asset in a benefit plan, and plan management is responsible for ensuring proper valuation and reporting of those assets. Each different investment has unique valuation and disclosure considerations.