Topic Archive: IQPA Audit

Should We Split Our 401(k) Plan to Avoid the Annual Audit?

DWC | 02/6/18

Facts

Our company has been growing over the last couple of years, which is a good thing. However, after seeing your last two Questions of the Week (here and here), I am concerned about the need to have our 401(k) plan audited. We are committed to keeping the plan in compliance, but I cringe at the thought of searching for an auditor and dealing with the related costs.

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How Do You Select a CPA for Your Annual 401(k) Audit?

DWC | 01/30/18

Facts

With over 100 participants in our 401(k) plan in 2017, we have learned that our plan will now require an audit each plan year from an Independent Qualified Public Accountant (IQPA). This will be the first year the plan is subject to an audit. The idea of beginning this process is daunting and a little unnerving, to say the least!

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When Does My Plan Need An Outside Audit?

DWC | 01/23/18

Facts

We are a small business that has been growing quite a bit in the last couple of years and are now up to about 100 employees. Our company has a 401(k) plan and most of the employees who are eligible for it are contributing. We have been told that because of the size of our plan, we might need to have it audited each year by an outside accounting firm.

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The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.