Trust your Mandatory Employee Benefit Plan Audit to Polk Group

If you have more than 100 employees that are eligible to participate in your company’s Employee Benefit Plan, federal law requires you to hire an independent qualified CPA to audit your plan. An incomplete, inadequate, or untimely audit report may result in penalties assessed against you as the plan’s administrator. For this and other reasons, it’s vitally important to engage the right auditor for this task.

The professionals at the Polk Group have successfully conducted more than 150 audits of employee benefit plans, helping to protect the assets and financial integrity of each employee benefit plan and ensuring that the necessary funds are available to pay retirement, health and other promised benefits to employees. According to the U.S. Department of Labor, one of the most common reasons for deficient accountants' reports is the failure of the auditor to perform tests in areas unique to employee benefit plan audits. That won’t happen with the Polk Group on your team. Your dedicated CPA will consider:

  • Whether plan assets covered by the audit have been fairly valued;
  • Whether plan obligations are properly stated and described;
  • Whether contributions to the plan were timely received;
  • Whether benefit payments were made in accordance with plan terms;
  • If applicable, whether participant accounts are fairly stated;
  • Whether issues were identified that may impact the plan's tax status; and
  • Whether any transactions prohibited under ERISA were properly identified.

Our experts know which audit procedures to consider by plan type and are always aware of new audit report requirements.

If you're ready for the technical expertise of a CPA but not for a full audit, it might be time to engage Polk Group for a review

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James Polk

CPA, Managing Member

James A. Polk, CPA, Managing Member, has more than 40 years of accounting experience in Georgia and Kentucky. After building a 35-professional practice in west Kentucky, he moved to Atlanta in 1985. He established his solo Atlanta practice in 1990 after serving as treasurer and CFO for a multi-state company.

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