Posted on August 5, 2019

Following a shocking 39 percent audit deficiency rate in an audit quality study conducted by the Department of Labor (DOL) in May 2015, the DOL requested the ASB take a...

Posted on February 11, 2019

Effective 1/1/2017 Internal Revenue Service (IRS) eliminated the staggered 5-year remedial amendment cycle for individually designed plans (IDP) on which auditors relied to verify the Plan’s tax qualified status. In...

Posted on January 16, 2019

Plan Sponsors may consider contributing non-cash assets into the Plan;  typical non-cash contributions include corporate shares and real-estate assets. However, if you’re considering such contributions, be alert as they may...

Posted on July 17, 2017

By Gosia Kanda, CPA and Nadia Cruz, CPA Being able to serve clients with sound audit advice requires practitioners to first learn, understand and explain audit requirements and financial statement...