News & Resources

Changes Are Being Proposed to Current Auditing Standards

A new Statement on Auditing Standards (SAS) that is being proposed will directly affect trustees, management, and those responsible for plan governance.  Should the SAS be adopted in its current form, the requirement for management to demonstrate compliance with all relevant provisions of the plan document will place additional burden on plan administrators, increase the time required to perform an ERISA plan audit and increase audit and administrative fees.

Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA