Full Scope vs. Limited Scope Audits in Retirement Plans

A Multnomah Group White Paper

Audits are an essential part of the Employee Retirement Income Security Act (ERISA) reporting structure. However, the audit aspects that make employee benefit audits different from general financial audits, mean that their benefits are frequently misunderstood. A good audit should offer comfort that a plan’s financial statements have been subject to an independent examination and that the plan’s operating processes are in good order.

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