The complex reporting requirements associated with an employee benefit plan audit are essential for filing an accurate Form 5500 for your organization. The IRS Form 5500 series, filed by organizations that sponsor a retirement plan governed by ERISA, provides the IRS and the Department of Labor with information about your company’s plan including details about its operation and compliance with federal regulations. Both large and small organizations are required to file depending on the structure of their retirement plan.
CBM Partner Julia Lafferty has served as co-chair of the employee benefit plan conference of the Greater Washington Society of CPAs in 2022 and 2023. In this role, she has participated as a panelist during the “Ask the Experts” conference panel and helped to develop topics for the program agenda, delivering current guidance about audit procedures associated with benefit plans to attendees. Each year, CBM also supports the GWSCPA conference by sending 10 team members to gain current knowledge from industry peers, ensuring that the expertise governing audit engagements for the firm’s clients remains up-to-date.