Clearview Group and True Citrus: The Model Audit Partnership
The partnership with True Citrus goes way back, and what makes the relationship so strong is the trust and mutual respect the organizations have for each other, as well as shared values.
And avoid disruptions to your business.
Leave your audit worries behind with a reliable audit partner who excels in communication.
No matter your company size or industry, we can help with your financial statement audit.
Focus on what's important to you - your business and employees - and leave the EBP audit to us.
If your organization receives federal funding, a single audit may be required. We can help.
The partnership with True Citrus goes way back, and what makes the relationship so strong is the trust and mutual respect the organizations have for each other, as well as shared values.
Companies of all sizes and in all industries are responsible for accurate financial statement reporting. When assurance is required, you want confidence in the process with limited disruption to business operations.
Your organization may be asked to provide varying levels of assurance regarding financial statements based on factors such as:
Lending requirements
Board and/or donor expectations
Size of your company or organization
We work with you to determine which level of assurance is the right fit for your unique circumstances.
Audits provide the highest level of effort and are the highest level of assurance.
Reviews are substantially less in scope than audits and provide a medium level of assurance.
A compilation results in a set of financial statements without assurance and therefore, is the lowest level.
If your business has more than 120 participants in its Employee Benefit Plan, you will need an annual Employee Benefit Plan (EBP) audit. You want your EBP audit done the right way, the first time, at a reasonable price.
With the EBP audit experts from Clearview, you can expect:
Deadlines kept, paperwork filed on-time
Clear and consistent communication
An anxiety-averse process
A dedicated partner and subject matter expert
The right price for an annual compliance requirement
With hundreds of Employee Benefit Plan audits under our belt, we'll take the reigns so you can focus on what's important to you - your employees.
You want a hassle-free, anxiety-averse EBP audit at the right price.
We've got you covered. Answer a few short questions, and we'll send you an instant quote for this year's audit.
If your organization spends over $750,000 in federal funding in a given calendar year, you may be subject to a single audit.
A single audit includes a financial statement audit alongside a compliance audit that is program-specific. Single audits are most commonly needed in these types of organizations:
Non-profits and not-for-profits
Medical facilities such as personal care facilities, rehab centers, medical centers, and biotech labs
Government entities, such as cities and counties
In some circumstances, you may only need a program-specific compliance audit, but you will need to get permission from your program director.
We can help you navigate your organization's federal awards compliance needs.
A standard annual audit should be pain-free.
Here's how we work with you to make it just that.
We provide an easy to follow EBP Audit-in-a-Box so you know exactly what you need to prepare. Expect thorough communication at every step.
After we've prepared the requirements, we will meet with the team responsible for the EBP to address any concerns that we may have uncovered.
We provide a finalized report and audited financial statements to be attached to the Form 5500 that is submitted to the Department of Labor.
Audit teams will determine testing strategy based on their initial risk assessment of the plan; however, the following areas would typically be covered:
The three common areas of errors are:
Whenever significant operational errors occur, plan sponsors should consider engaging ERISA counsel.
Plan sponsors can self-correct many operational errors – such as late remittances and minor errors in the calculation of eligible wages, contributions, or vesting. When larger errors are identified, such as material errors in the calculation of eligible wages, or it’s determined that there is a missing plan amendment, then it’s recommended to talk with ERISA counsel.
The DOL tends to focus on:
ERISA stands for the Employee Retirement Income Security Act of 1974. It’s a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to protect individuals in these plans.
ERISA requires plans to provide participants with plan information, including:
There may also be certain state laws that affect employee benefit plans, but ERISA is a federal law that supersedes any state laws that relate to private employer-sponsored retirement and health plans.
We are a full-service management consulting and CPA firm covering all aspects of audit, compliance, risk management, accounting, finance, tax, IT risk, and more. Just let us know what you need help with and an expert will be in touch!
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