Full Scope vs. Limited Scope Audits

When a 401(k) or other retirement plan requires an annual audit, a plan administrator may have a choice to engage an audit firm to perform a full-scope audit or a limited scope audit of the financial statements. To be qualified for a limited scope audit, a bank or insurance carrier must act as a trustee …

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Selecting a 401k Auditor

As noted in April 6, 2010 post, “Do You Still Need a 401K Audit?” there are several factors to consider in determining whether or not your 401K Plan needs an audit.  After the decision has been determined that an audit will be required for your 401K Plan, the next big question for the Plan administrator …

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