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employee benefit plan audits shannon
Plans and plan sponsors are facing new challenges, greater responsibility and increased scrutiny
from participants and regulators. If your employee benefit plan is required to have an audit, one of
the most important duties of the plan administrator is to hire an independent auditor for the plan. A
quality audit will help protect the assets and the financial integrity of your employee benefit plan
and ensure that the necessary funds will be available to pay retirement, health, and other
promised benefits to your employees.
To subscribe to or download issues of our "Employee Benefit Advisor" please check out our
Our goal is to perform a quality audit as well as to assist our clients to develop and maintain
quality plans for themselves and their employees. We believe it is important to help our clients
understand their plan, their responsibilities and the compliance requirements.
Our approach to auditing is to work with the client's personnel, plan administrator and service
providers in a cost-effective and non-intrusive manner. We plan and schedule the audit with the
convenience of our client in mind. We are heavily staffed at the management level to assure
quality service to our clients. We have experience in auditing a diverse collection of plan types
including both full and limited scope audits. Our experience, qualifications and service approach
enables us to deliver the highest quality service on a timely basis with a reasonable fee structure.
Shannon & Associates, LLP, is a member of the AICPA's Employee Benefit Plan Audit Quality
Center. In joining the Center, we have demonstrated a firm commitment to the quality of our
benefit plan audits. As a member, we must adhere to membership requirements including
designation of an audit partner with firm responsibility for the quality of the employee benefit plan
audit practice, establishing training programs/education requirements, quality control policies and
procedures, internal inspection policies and making our peer review report (including selection of
benefit plan audits) publicly available.