• Call us: (303) 665-8060
  • Email: info@kfinancial.com
Schedule Consultation
kfinancial.com
  • Home
  • About KFi
    • Team Page
  • Services
    • Advisory Services
    • SOC Reports
    • Employee Benefit Plan Audits
    • Our Audit Approach
    • Audit and Attest Services
  • SOC Resources
  • Careers
  • Contact
  • Blog

What to expect in your first 401(k) audit

  • 23 Jul 2021
  • jkfin
  • 401k Audit
  • No comment
What to expect in your first 401(k) audit

Preparing your company and plan for its first 401(k) audit can be a tedious task, but with the right knowledge and tools you can help prepare for a successful and smooth audit. 

Insights You Can Gain From 401(k) Audits

  • 02 Jan 2020
  • jkfin
  • Employee Benefit Plans
  • No comment
Insights You Can Gain From 401k Audit

As a company grows, the federal requirements for 401(k) plan reporting can change, prompting a partnership with a Certified Public Accountant (CPA) firm. Companies that are experiencing their first large plan audit can be caught unaware and therefore unprepared to undergo a detailed examination of plan compliance, internal controls, and industry […]

Tax and Compliance Issues for 401(k) Plans

  • 05 Oct 2012
  • jkfin
  • Employee Benefit Plans
  • No comment

The AICPA Employee Benefit Plan Audit Quality Center has published a useful document to provide Center members with a general understanding of the tax and compliance requirements for 401(k) plans that are subject to the reporting requirements under the Employee Retirement Income Security Act of 1974 (ERISA). As we approach the […]

Employee Benefit Plan Internal Controls

  • 27 Jun 2012
  • jkfin
  • Employee Benefit Plans
  • No comment

The AICPA Employee Benefit Plan Audit Quality Center has published a very useful Plan Advisory entitled “The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets”.  The document begins with general background information that might put you to sleep, but then moves into more interesting topics such as “How […]

Employee Benefit Plans DOL Criminal Enforcement Cases

  • 26 Jan 2012
  • jkfin
  • Employee Benefit Plans
  • No comment

The AICPA Employee Benefit Plan Audit Quality Center has developed a summary analysis of the U.S. Department of Labor (DOL) Employee Benefit Security Administration’s criminal enforcement actions involving employee benefit plans during the period April 2009 through November 2011.  The summary includes actual fraud cases categorized by plan type.  This tool […]

Helpful Tool for Year End 401(k) Plan Review

  • 17 Dec 2011
  • jkfin
  • Employee Benefit Plans
  • No comment

Every year it is important for 401(k) plan administrators to review the requirements for their plan’s operation.  This annual review is a “best practice” that is often overlooked, but could save you time, money and headaches in the coming year.  The IRS has published a very helpful checklist to help you […]

Department of Labor Takes Actions Against Employee Benefit Plans

  • 13 Oct 2011
  • jkfin
  • Employee Benefit Plans
  • No comment

The Department of Labor (DOL) released information yesterday that underscores the importance of high-quality and effective audits of employee benefit plans.  The DOL has filed a complaint in federal court seeking to restore over $400,000 to two benefit plans.  The lawsuit alleges that the plans’ administrator failed to account for money […]

401(k) Plan Regulatory Update

  • 13 Jul 2011
  • jkfin
  • Employee Benefit Plans
  • No comment
401(k) Plan Regulatory Update

  There are 2 new rules from the U.S. Department of Labor that all 401(k) plan administrators should be aware of. The first rule has been finalized and creates a requirement for fee disclosure to plan fiduciaries and participants. The second is a proposed rule to update the definition of fiduciary […]

401(k) Plan Tip Sheet – How to Avoid IRS Qualification Failures

  • 16 May 2011
  • jkfin
  • Employee Benefit Plans
  • No comment
401(k) Plan Tip Sheet - How to Avoid IRS Qualification Failures

The top 10 qualification failures from recent IRS exams are listed below, along with tips on how to avoid them: 1) Failure to properly amend the plan This is the most common issue that the IRS finds in its examinations of 401(k) plans. Laws related to retirement plans change frequently and […]

401(k) Plan Audit Season is Here.

  • 03 May 2011
  • jkfin
  • Employee Benefit Plans
  • No comment

Top 10 IRS Qualification Failures The employee benefit plan audit season is underway once again. The K Financial team started fieldwork on several of our 401(k) plan audits in April and will be at client sites working on plan audits through August.  

SOC Resources

View our free SOC Audit resources.

Download Management Review Memo Sheet

Download Vendor Management Policy Guidelines

Download SDLC and Change Management Policy Checklist

Download Code of Business Conduct Example

Recent Posts

  • SOC 2 Reporting Updates January 13, 2023
  • DOL Cybersecurity Guidance January 9, 2023
  • SOC 2 Pro Tip – Addressing Vendor Management Requirements September 21, 2022
  • The Impact of SSAE No. 21 on SOC 2 Audits September 16, 2022
  • SOC for Supply Chain August 27, 2022

Categories

  • 401k Audit
  • COSO Framework
  • Cyber Security
  • Employee Benefit Plans
  • ERM
  • Foundation Events
  • Fraud
  • K Financial Foundation
  • Kfi News
  • SOC Reports
  • Uncategorized

Tags

401(K) Audit Charity Consulting COSO Kfi Team SOC White Paper
Email Us
Ph: (303) 665-8060
Fax: (303) 665-0813
940 Main St. Louisville, CO 80027

kfi-logo-retina

Our focus is on delivering the greatest value possible for our clients.

 

©2022 K Financial. All Rights Reserved.
Website Design by HIVE Strategy.

Services

Audit and Attest

Advisory Services

Our Audit Approach

Employee Benefit Plan Audits

System and Organization Controls (SOC) Reports

Recent Posts

  • SOC 2 Reporting Updates
  • DOL Cybersecurity Guidance
  • SOC 2 Pro Tip – Addressing Vendor Management Requirements
  • The Impact of SSAE No. 21 on SOC 2 Audits
  • SOC for Supply Chain
  • Home
  • Blog
  • Home