We gather various plan documents and questionnaires from you. We take a look at your 401(k) operation to understand how it works, what controls are in place, and where there may be any internal control weaknesses. This work is done remotely to keep interruptions to a minimum for you and your office. For information on what documents you’ll need to submit, see below.

When we have a solid understanding of how your 401(k) plan works, we’ll begin our review and participant-level sampling and testing. At this point, we take a close look at various items such as, deposits into the plan, payroll testing and random sampling of participants data to ensure 401(k) plan is operating correctly.

Once we’ve done our testing and auditing, we’ll review our findings with you. We know that open communication is often the best remedy for a complex process like a 401(k) audit. We’ll ask any questions we have, review any issues, and go over our draft of the audit report with you. At this point, we’ll clear up any discrepancies, and compile everything into a final report.

Once you have a clear understanding of our final report, we’ll gather all final documents, perform subsequent audit procedures, and submit our final report. Your 401(k) audit is now complete.