Transparency and Accountablity

Audits exist to ensure money is being handled properly. And no where is that accountability more important than with your company's employee benefit plan because you're responsible for someone else's money.

Employee benefit plan audits allow you to be completely transparent with your employees as to how their retirement money is being handled, as well as providing an accountability check for you on your third-party administrator.

PMBHD currently performs 50 employee benefit plans each year, making up about 10% of our audit practice. Almost all are for plans with assets from $500,000 to $500M. Most have 150-300 participants and a $2M-$20M asset range.

We are a member of the AICPA’s Employee Benefit Plan Auditing Control Center. As such, we participate in webinar updates as well as attend the AICPA Benefits Conference. Each year, our audit team attends EBP training that includes accounting updates as well as directives from the Department of Labor.

Audit Types

Full Scope Audit

The option for an plan where investments are held by more than one party and thus require multiple certifications. It covers all your company investments as well as as any other complicated investments in your plan. Also required for plans that file with the SEC, since the SEC doesn't accept limited scope audits.

Limited Scope Audit

These are generally for a period of less than a year, limited to certain operations or accounts and to a specific purpose. Typically allowed if your plan investments are held by a regulated trust company, a bank or an insurance company as they are qualified to certify accuracy and the completeness of the plans investment information.
Learn more at AICPA

Who We Work With

A few of our current clients

Key Team Members

Don McPhee

Don McPhee

Audit Partner
dmcphee@pmbhd.com
Chris Bona

Chris Bona

Audit Partner
cbona@pmbhd.com
Talon Woods

Talon Woods

Audit Senior Manager
twoods@pmbhd.com
David Forrest

David Forrest

Audit Manager
dforrest@pmbhd.com