10 Easy Tips to Prepare for Your 401(k) Audit

If your company’s 401(k) plan requires an audit this year, here are ten things you can do to help you prepare for, and pass your 401(k) audit. 1. Gather all plan documents including new amendments that were made during the current year.  Your auditor will ask for them, so you might as well pull them together …

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Is Your Company Vulnerable to Fraud – Part II: Fraud Indicator Checklist

HOW TO USE THE CHECKLIST 1. Review the concept for each internal control area and answer the questions following each section. 2. Each answer identifies an area that needs stronger internal controls. I. SEGREGATION OF DUTIES Concepts: • Certain accounting/bookkeeping functions are designed to cross-reference each other for accuracy.  If the same person is responsible for multiple duties, the …

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