Employee Benefit Plan Audits

Members of Gaines Kriner Elliott LLP have been performing employee benefit plan audits since ERISA became effective in the mid 1970s. We have an extensive base of clients, both large and small, for whom we have performed benefit plan audits, in accordance with U.S. generally accepted auditing standards. We understand that our clients want our processes to be efficient and that they don’t want to pay us for support services that they could readily perform.

Our experience includes employee benefit plan audits from smaller engagements - number of participants ranging from 95 to 135 and plan assets ranging from $1.5 million to $4.8 million - to larger engagements with participants from 1115 to 7740, and plan assets in the $94 million to $290 million range. In addition, we have a wide array of employee benefit plan audit experience including:
• 401(k) plans
• Profit sharing plans
• Health & welfare plans
• Traditional defined benefit pension plans
• Employee stock ownership plans
• Supplemental unemployment plans

As part of our firm’s commitment to providing the highest quality service to our clients, we have joined the Employee Benefit Plan Audit Quality Center of the AICPA. The Center’s primary purpose is to promote the quality of employee benefit plan (“EBP”) audits by:

• Creating a community of firms that demonstrate a commitment to EBP audit quality,
• Serving as a comprehensive resource provider to member firms,
• Raising awareness about the importance of EBP audits, and
• Providing Center members with an online forum tool for sharing best practices as well as discussions on pertinent audit, accounting, and regulatory issues.

Membership in the Employee Benefit Plan Audit Quality Center requires a member’s commitment to:

• Designate a partner for firm-wide responsibility for the control of a firm’s EBP audit practice,
• Establish a program to ensure that all personnel on EBP audit engagements have appropriate training for their level of responsibility, and
• Establish policies and procedures for their EBP practice to comply with applicable professional standards including regular internal inspections of EBP engagements performed by individuals with current EBP knowledge and experience.

Amherst: 100 Corporate Parway, Suite 200, Amherst, NY 14226, 716-250-6600
East Aurora: 100 Riley Street, East Aurora, NY 14052, 716-652-1042