As a firm, we have chosen to adopt PPC's Guide to Audits of Employee Benefit Plans as our system for auditing benefit plans. This Guide is marketed through Thomson Reuters (Tax & Accounting) Inc. and has thousands of subscribers. Like any tool though, the effectiveness of the Guide, which is the basis for our approach, is the result of the way it is used by our experienced auditor and CEO Daryl G. Krause. Daryl uses his years of experience in completing and signing off as an engagement partner on hundreds of employee benefit plan audits to ensure that the audit process is thorough, in compliance with generally accepted auditing standards, and takes into consideration the published expectations of the Department of Labor regulators.
Value from the Process
The following summary of the specific value you can expect to derive if, DG Krause LLC provides these services, are among the reasons to engage DG Krause LLC:
Compress the "cycle time" and reduce "dead spots" where nothing happens during the audit process. Suggestions to simplify financial reporting and still meet compliance requirements. A source of answers to questions anytime during the year regarding the audit implications of potential actions and/or proposed transactions. Improve the effectiveness and consistency of control procedures implemented. Feedback regarding the effectiveness of service providers involved with the audit process.