We are a Specialty CPA Firm
Employee Benefit Plan Audits
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.
New Auditing Standard, SAS No. 136 is effective now!
SAS No. 136, as amended, has been codified in AU-C section 703, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. AU-C section 703 is effective for audits of financial statements for periods ending on or after December 15, 2021.
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.
Click on image for a copy of the AICPA's EBPAQC "Plan Advisory" on SAS No. 136
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."
Click on image for a copy of the AICPA's EBPAQC "Plan Advisory" on ERISA Section 103(a)(3)(C) audits
Peer Review
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.