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Standards for Form 5500 Plan Audits

social ethics

“For qualified retirement plans that are subject to an audit by an independent qualified public accountant (IQPA) as part of Form 5500 filing requirements, what audit standards apply?”

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Highlights of Discussion

Conclusion

The audit performed by a IQPA is an essential fiduciary element. Plan sponsors should pay keen attention and document their adherence to the DOL’s suggestions on selecting IQPAs for their plans.