Benefit plans often represent a significant cost for companies and many pay for plans with blind faith due to the lack of audits and internal controls used to verify them. Employee Benefit Plan Audits (EBP Audits) are an opportunity to identify potential areas for improvement in the management, spending, and compliance with these benefits.
Employee Benefit Plan Audit Services
Increasing Quality & Adding Value With Professional Plan Guidance
Auditing employee benefit plans protects companies against financial abuse and fraud. An audit goes beyond compliance, safeguards assets from both employee deception and internal errors while identifying areas to streamline and save money. The benefits of an EBP audit are an investment in the company.
An employee benefit plan audit provides well-organized data that can be analyzed to help a company make better decisions regarding benefit plans. Every detail of the company’s benefits package is scrutinized, including health and welfare, vacation, pension, stock options, severance packages, profit sharing, as well as many other benefits.
MDP conducts hundreds of plan audits every year. We work with small to large organizations, with variably sized workforces and corresponding employee benefits plans. Our unbiased team of dedicated managers and pension plan specialists ensure plan audits address the full spectrum of compliance, technical, and financial issues across every aspect of the plan. We provide the guidance necessary to navigate through the challenges of today’s every-changing benefit plans.
Our Employee Benefit Plan Audit Services can help you with:
- Qualified plan consulting and compliance
- Full and limited-scope audits
- Health and welfare plans
- Profit sharing plans and employee stock ownership plans
- Plan mergers and acquisitions
- Partial or full plan terminations
- Compliance matters
MDP is distinct from many other accounting firms. Our practice group consists of individuals dedicated to providing the highest quality employee benefit plan audits. We assist clients with a wide range of audit and assurance services across Southern Ontario, including Mississauga, Oakville, Stoney Creek, Hamilton, Burlington, and throughout the Greater Toronto Area.