As we approach the audit deadline for employee benefit audit plans, hopefully things are already in motion with your plan auditors. You have received the list of items they need to complete the audit, documents have been exchanged and meetings are planned. But what else can you do to make this year’s audit more efficient, less painful and – dare we say – more enjoyable than last year?
As an employee benefit plan auditor with more than 18 years of experience working with hundreds of defined contribution plans, I have gone over my past interactions with plan sponsors and created a “wish list” for the things all auditors would like from their plan sponsor clients. These wishes fall into three main categories: Be Prepared. Be Available. Be Proactive.
