We are a Specialty CPA Firm



Employee Benefit Plan Audits

Changes are coming to ERISA financial statement audits!

Statement on Auditing Standards No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, is effective NOW!

WHAT WE OFFER
  • A quality audit at a fair fee that complies with all reporting and ERISA disclosure requirements;

  • Efficient coordination with the plan sponsor, trustee and third party administrator before, during and after the audit;

  • Continuity of engagement staff which eliminates the necessity to “train” new audit staff each year;

  • Timely completion of reports in advance of filing deadlines;

  • Tailored engagement procedures designed to minimize the time required of your organization’s accounting and HR personnel; and

  • Responsive technical support during the plan year.

ABOUT OUR FIRM

At Jeffrey L. Offhaus CPA, LLC, we perform employee benefit plan work as our primary specialty area.

We have the unique experience required to efficiently perform audits of all types of employee benefit plans at a reasonable cost.

OUR SERVICES

As specialists in this complex and ever-changing area, we understand the impact of new regulations or policies to ensure your employee benefit plans are in compliance with federal laws and current accounting principles.

PLAN RESOURCES

At Jeffrey L. Offhaus CPA, LLC, we are committed to providing responsive technical support during the plan year.

New Auditing Standard, SAS No. 136 is effective now!

Beginning with either the 2020 or 2021 plan year financial statements (plans audits performed in 2021 or 2022) your auditor will be following new auditing standards to perform and report on your plan financial statement audit.


The AICPA issued Statement on Auditing Standards No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, (SAS No. 136) for auditors who perform audits of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).

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Click on image for a copy of the AICPA's EBPAQC "Plan Advisory" on SAS No. 136

SAS No. 136 - What’s new?
The new standard includes new requirements in all phases of an audit of ERISA plan financial statements including engagement acceptance, risk assessment and response, communication with those charged with governance, performance procedures, and reporting.

What happened to my “Limited Scope Audit”?
The standard also establishes new performance and reporting requirements specific to ERISA Section 103(a)(3)(C) audits. The ERISA Section 103(a)(3)(C) audit is unique to employee benefit plans and is not considered a scope limitation. Accordingly, an audit performed pursuant to ERISA Section 103(a)(3)(C) will no longer be referred to as a "limited scope audit" but rather going forward will be referred to as an "ERISA Section 103(a)(3)(C) audit."

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Click on image for a copy of the AICPA's EBPAQC "Plan Advisory" on ERISA Section 103(a)(3)(C) audits

 
Peer Review
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Jeffrey L. Offhaus CPA, LLC received a "clean" unmodified opinion on its most recent Peer Review report.  The link to JLOCPA's Public File Listing is listed below (Firm No. 900004058505)

The firm is an active member of the AICPA and the AICPA Employee Benefit Plan Audit Quality Center, a firm-based voluntary membership center to help meet the challenges of performing quality EBP audits.

Jeffrey L. Offhaus​ selected and featured in AICPA Employee Benefit Plan Audit Quality Center promotional video.