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Audit & Assurance

Employee Benefit Plan Audits
A Proactive, Specialist-Led Approach to EBP Audits

Aprio’s EBP audit approach is designed to reduce disruption, improve transparency, and support stronger plan administration while helping sponsors avoid costly penalties and last-minute surprises. Aprio is also a member of the AICPA Employee Benefit Plan Audit Quality Center, reflecting our commitment to specialized training, quality control, and regulatory excellence in EBP audits.

Reduce DOL Risk.
Avoid Costly Surprises.
Audit with Confidence.

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Employee benefit plan (EBP) audits are subject to heightened scrutiny from the Department of Labor. Aprio’s dedicated EBP audit team helps plan sponsors navigate evolving regulations, reduce compliance risk, and address issues proactively before they become findings.

Unlike firms that audit benefit plans occasionally, Aprio maintains a national EBP audit practice focused exclusively on employee benefit plans. Our specialists understand the nuances of plan operations, service provider data, and regulatory requirements, allowing us to deliver efficient, high-quality audits with fewer surprises and clearer outcomes.

Our Focus Areas

Aprio audits a wide range of employee benefit plans and supports sponsors across all stages of plan growth and complexity.

  • 401(k) and 403(b) Plans

    Aprio audits 401(k) and 403(b) plans of all sizes, from emerging plans approaching the 100-participant threshold to complex plans with 80,000+ participants and assets exceeding $1 billion.

  • Form 11-K’s

    Aprio audits Form 11-K filings for plans that offer company stock as an investment option. We support plans with publicly traded securities, multiple service providers, and SEC reporting requirements, coordinating closely with plan sponsors and service providers to facilitate accurate financial reporting and timely filings.

  • Employee Stock Ownership Plans (ESOP)

    Aprio audits Employee Stock Ownership Plans (ESOPs), including the valuation of employer securities and compliance with ERISA requirements. Our team reviews plan transactions, valuation processes, and related disclosures to support accurate financial reporting and regulatory compliance.

  • Defined Benefit Plans

    Aprio audits defined benefit plans, reviewing participant data, benefit calculations, and plan obligations in coordination with actuarial information. We assess compliance with IRS and ERISA requirements and evaluate the accuracy of financial statement reporting.

  • Health & Welfare Plans

    Aprio audits health and welfare plans subject to ERISA audit requirements, focusing on the plan’s financial statements, participant eligibility, and contributions and benefit payments. Our procedures address ERISA reporting requirements and support accurate Form 5500 filings.

Frequently Asked Questions

When is an EBP audit required?

An employee benefit plan audit is generally required when a plan has more than 100 participants (or participants with account balances for a defined contribution plan) at the beginning of the plan year. Certain plans may qualify for limited exceptions, but determining the participant count can be complex depending on the type of plan and should be evaluated carefully to avoid filing deficiencies.

What happens if a required audit is missed or deficient?

Failure to file a complete and compliant audit with Form 5500 can result in Department of Labor enforcement actions, rejected filings, penalties, and corrective filing requirements. In some cases, sponsors may need to participate in DOL correction programs to remediate prior-year issues.

What is an ERISA Section 103(a)(3)(C) audit?

An ERISA Section 103(a)(3)(C) audit is the current name for what many plan sponsors still call a “limited-scope audit.” If this type of audit is elected by management, the auditor does not audit investment information certified by an eligible bank, trust company, or regulated insurance company, allowing audit procedures to focus on other important areas of plan operations and compliance. Although the name changed under current auditing standards, this remains a common audit approach for many retirement plans. Your auditor can help determine whether your plan qualifies.

What does the Department of Labor focus on most often?

Department of Labor enforcement activity commonly focuses on:

  • Late or delinquent employee contributions
  • Incomplete or inaccurate participant data
  • Improper valuation or reporting of plan investments
  • Prohibited transactions and related disclosures
  • Inconsistent or incomplete Form 5500 filings

Proactive audits that identify and address these areas early can significantly reduce regulatory risk.

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Your EBP Audit Specialists

Aprio’s EBP audits are performed by a national team of partners, directors, managers, and specialists who focus exclusively on employee benefit plans providing continuity, consistency, and deep technical expertise year after year.

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