"Clients have so much on their plate and time is valuable, so proper planning to create an efficient and effective engagement helps remove one more stressor from their journey to achieve their goals. "
Lori Reynolds approaches all employee benefit plan audits the same – do them right and do them fast with as little interruption for the client as possible.
That doesn’t mean the Councilor, Buchanan & Mitchell (CBM) manager and co-director of the firm’s employee benefit plan practice group cuts corners on quality and accuracy. Quite the opposite; she and her team schedule out early to plan and pull information from third parties as necessary to get everything ready to be as efficient and effective as possible when they bring the client in. It’s all part of her strategy to take the burden off clients.
Lori, who has nearly 20 years of experience in private and public industry and public accounting, has worn many hats but focuses primarily on employee benefit plans and not-for-profits. That includes 401(k) and 403(b) defined contribution plans and health and welfare plans for various commercial and not-for-profit entities, including public companies, government contractors, architectural firms, automotive dealerships, public charter schools, healthcare entities and trade associations.
Her work doesn’t stop at the technical audit, which includes performing and supervising audits in accordance with generally accepted auditing standards. Nor does it stop with reviewing internal controls and procedures, employing analytical review procedures to detect possible anomalies, or designing substantive audit tests to ensure material adequacy of financial statements. Lori often will go deeper on ERISA and employee benefit plan audits to review each organization’s tax forms. The desired outcome is identifying any issues and errors that need to be adjusted to remain in compliance and support a clean audit to help the plans reflect well to insurance and bonding agencies.
Lori’s additional experience includes reviews and compilations, agreed-upon procedures, Uniform Guidance audits, forensic consulting, tax planning and compliance, and technical assistance with internal audit software.
Helping individuals achieve their goals goes beyond accounting for Lori. The gym and fitness fanatic has a Group Exercise Instructor Certification from the Aerobics and Fitness Association of America, completed the International Weightlifting Association’s Weight Training Certification Course, and is a Certified Instructor of BodyPump by Body Training Systems, and a certified Les Mills Bodyflow® Instructor. Health and fitness have been a passion for Lori since high school, not just for her benefit but to help her community become healthier. If she’s not working out, you can find Lori flexing her brain as part of the Official Trivia Team at Present Company in Washington, D.C.