The 401(k) Audit CPA Success Show

Topics discussed in this episode include: Key upcoming provisions and their effective dates Strategies for evaluating and implementing plan changes Why documentation is so important for compliance How to prepare for plan amendments by the end of 2026 Education and communication strategies for plan participants Episode resources: Watch episodes of  The 401(k) Audit CPA Success Show on YouTube . Lea...

Topics discussed in this episode include: Practical tips to avoid common errors in census preparation  What steps to take if a test is failed How to correct for plan administration errors  Best practices for maintaining documentation Episode resources: Watch episodes of  The 401(k) Audit CPA Success Show on YouTube . Learn more about the  Anders 401(k) process and pricing . Request a 401(k) audit...

Topics discussed in this episode include: What to ask a potential audit firm The federal communications to look out for and what to do when they arrive How to determine if an audit firm is the right fit for you Tactics to prevent future late filings Episode resources: Watch episodes of  The 401(k) Audit CPA Success Show on YouTube . Learn more about the  Anders 401(k) process and pricing . Request...

Topics discussed in this episode include: Different types of controls and their various uses Why it’s important to layer multiple controls How poor internal controls can negatively impact your 401(k) audit The most common compensation issues auditors come across Episode resources: Watch episodes of  The 401(k) Audit CPA Success Show on YouTube . Learn more about the  Anders 401(k) process and pric...

Topics discussed in this episode include: The pitfalls of customization options in payroll software and modules such as QuickBooks Why it’s important to keep documents clearly organized How delays with documents can result in late filings What is AuditMiner and how 401(k) auditors are able to use it Episode resources: Watch episodes of  The 401(k) Audit CPA Success Show on YouTube . Learn more abo...

Topics discussed in this episode include: A breakdown of the schedules you could encounter and their impact on your audit Why you should always promptly answer any requests from your auditor What to include, and what to exclude, when filing your Form 5500 Key tips to avoid difficulties while using the EFAST system Episode resources: Watch episodes of  The 401(k) Audit CPA Success Show on YouTube ....

Topics discussed in this episode include: How SAS 143 and SAS 145 can impact your 401(k) plan audit. The considerations you need to take with your IT environment, even if either your plan or your IT work is managed by a third-party. The consequences of changes to Form 5500 and why this change especially matters for companies hovering around the 100-participant threshold.  Episode resources: Watch...

Topics discussed in this episode include: Top takeaways from the Audit Quality Study Which sections of an EBP audit have the highest rates of errors The questions to ask your audit firm to determine whether they have the experience your business needs Episode resources: Watch episodes of  The 401(k) Audit CPA Success Show on YouTube . Learn more about the  Anders 401(k) process and pricing . Reque...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing:  https://anderscpa.com/401k-audits/  Topics discussed in this episode include: Tips on defining roles within your 401(k) plan to promote more cohesion The importance of access reviews and why access levels are an equally important part of the discussion Benefits of a compl...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing:  https://anderscpa.com/401k-audits/  “We always say that you can outsource the responsibility, but you can't outsource accountability. And you as the fiduciary are responsible. Even though you have hired this third party and you have a contract and everything else, you're...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing:  https://anderscpa.com/401k-audits/  “[Cybersecurity protection] is not something in passing that [the Department of Labor is] involved in, not something that once a breach occurs, now they're gonna get involved. They're trying to be more preventative. We're trying to get...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing:  https://anderscpa.com/401k-audits/  “It can be worse than time-consuming to fix administrative errors, it can be very costly. Make sure you leave time in your schedule to review the forms, make sure they're correct and get them filed on time.” Topics discussed in this epi...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing:  https://anderscpa.com/401k-audits/  “But I would caution you if an auditor is…half of all other ones… I would be a little bit suspicious of why are their costs so much less. Maybe they have a valid reason…but at the same time if they’re trying to get into something that t...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing:  https://anderscpa.com/401k-audits/ “If it's a first-year audit, they usually take a little longer, as you can imagine. I get calls from people that this is a first audit and they say, ‘Can you do my audit tomorrow?’ I can start tomorrow, but I'm not going to finish it in...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing:  https://anderscpa.com/401k-audits/  “Getting that [third-party administrator] questionnaire turned around quickly is really important, as well as if the provider's asking you for some type of year-end payroll report, a census, those are terms we see a lot. That is going t...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing:  https://anderscpa.com/401k-audits/  “If you delay getting us the information and there's a problem, it can't get resolved. More than likely, your audit is going to be late just because we've got others to work on. It's just the way it is. You have the fiduciary responsibi...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  "It does have some pretty big implications for those of you that either are a 401k plan participant or if you are the planned sponsor of a 401k plan, we wanted to kind of keep you updated so this doesn't hit you as a surprise because we...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  "We're very excited about the possibilities...the joint marketing, the results of that, how that plays into the rules going forward, and the way that impacts our interactions with clients and prospects going forward are some of the reall...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  "I always describe the, the audit timeline as an airplane on a runway. You know, it takes so much runway to get the airplane off the ground and into the air. Depending on the size of the airplane and how much cargo it is carrying and eve...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  "We listened to our customers. AuditMiner is so customer-lead. We don't develop a feature unless it's been requested by a customer and we get the customer feedback the whole time." Kelly Mann   The finer details in this episode: How Audi...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  "As long as you talk to your auditor upfront (and say), make sure they're on board, they know what they're doing. They're handling all this properly. Talk about any of these areas that may have peaked your interest that, oh, that sounds...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  "Some of this we have talked about before, but what we tried to do is put together twelve (12) that we thought are important to plan sponsors and plan participants." - Kim Moore The finer details in this episode: What you should consider...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  "We're seeing it all across different disciplines, all different types of employment and what we're finding is that people are quitting - and that really started from probably I'd say January and still continuing on through today - where...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  "You want to allow people to have very specific questions about their situation. Different companies have different needs. (You) Definitely want to get everybody thinking about this. So they're prepared when it's, when it's time." - Kim...

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/  “The pricing should be transparent. They should be able to tell you what are the factors and why is that important.” - Kim Moore The finer details in this episode: Why choosing the cheaper service provider is not always better in audit S...