EBP audit deficiencies found by DOL

The EBPAQC prepared this summary of deficiencies noted by the DOL in its review of 400 audits to assist auditors in planning and performing employee benefit plan audits to avoid these pitfalls. It includes the more frequent (5 or more) deficiencies which DOL deemed the finding to be a “major deficiency” with respect to one or more relevant GAAS requirement (Source: U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) report, Assessing the Quality of Employee Benefit Plan Audits